Entrepreneurial tips for survival - it’s all about perspective and yes, sanity too

Author: JT Comms
Date: 27 Jan 2015

In a global decline the one thing no one can afford to lose in between everything else is HOPE. Entrepreneurs under the whip need to keep it together and ensure the wheels of the economy allows for growth in spite of difficult markets

Our top tips on how you can survive the low down and embrace new opportunity to expand your prospects into new markets while you plan your next move

  • Don't say Can't and Won't and definitely REFUSE to become complacent and whatever happens Don’t give-up
  • Surround yourself/brand with business mentors – positive role-modelling is key
  • Use every opportunity to learn and be open to be inspired by leaders in business who can influence your business growth - learn to rely on people smarter and more effective than you
  • Use the lessons learnt or challenges in the market to come up with innovative solutions to current problems and put in interventions to help you learn from your mistakes
  • Build a network that can support your passion -  Build prospective clients or ambassadors for your brand/ product offering
  • Partnerships are the new economy – work towards creating the sacred economy you desire with businesses that share your value systems
  • Focus is key – more than Cash Flow – TIME is the most precious commodity you have - make your TIME work for you.  Be intentional about how you achieve the outcomes you seek and guard your time
  • Cut out the trimmings – now is not the time to be frivolous BUT at the same time it’s also not the time to compromise your potential growth. If you need to get your taxes in order to secure your next job make a plan. If marketing is your shortfall re-look at those figures and be decisive in your action plan
  • Embrace the new digital markets creating new economies but don’t lose track of traditional income sources
  • Adapt your product offering and position your service/brand where you identify a gap and can move into the space
  • To win you need to be in a winning circle cut out and isolate those dead end business deals that don’t rake in the cash flow
  • Always make sure you have a plan B and a Plan C. Push those boundaries, innovate, scale your product to new markets/opportunities  and increase profitability
  • Staying power is key BUT make it work for your bottom line
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