Strategies for Uncertain Times

There’s no doubt that we’re in uncertain times:

  • Inflation is up, but it seems to be declining
  • Unemployment is down, but layoffs in certain sectors are increasing
  • Demand is up, but supply chains can’t keep up
  • Small business is ‘critical to the economy’, yet 45% of online sales are dominated by Walmart, Costco, and Amazon
  • Stock markets are recently up, but are way down YTD

So what’s the best strategy for a small business to maintain sanity – and prosperity – going forward?

There are 2:

  1. Drive out all risk from your business: reduce your debt, don’t take on more, defer capital purchases, conserve cash, optimize every aspect of your operation
  2. Look at your markets differently: who are you serving and why? Is there another market that you could serve that is nearby, or accessible digitally, that would be interested in your product or service? Find a way to reach them.

We’re happy to speak with you about any of these issues, to make your business more profitable – quickly.