If you are still feeling the effects of the economic downturn, try the following tips from Doug Richard, entrepreneur and Dragon.
6. BUSINESS SURVIVES ON THE BOTTOM LINE. NOT THE TOP LINE
Don’t worry about growing revenue. Worry about growing profit…. Make sure you understand what drives profitability in your business. To spur demand, you may have to get creative with pricing and product offerings, and you don’t want to put something out there that is actually unprofitable.
Consider diversifying to make the most of potential opportunities. Others’ weaknesses and instability could work to your advantage. You never know – you may identify a new market.
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