This blog has been rather obsessed with the global cash
crisis over the last few weeks.
No apology. We all are. We all should be. The decisions
being made by the world’s political and financial leaders will impact on us all.
We ought to be aware of them. We ought to discuss them.
However, there is little we, as entrepreneurs, can to
What we can do is prepare our businesses for the stormy year
At the risk of repetition:
1 Prepare now
2 Cut all
unnecessary expenditure and borrowing
3 Identify your core
business and focus your resources on it
4 Build a cash
5 Sell surplus
assets now – forget about optimum price, survival is the priority
6 Keep selling –
cutting marketing in a crisis is a false economy
7 Be open to new
business opportunities that often arise in recession, but not at the expense of
risking your survival.