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Wednesday, January 11, 2023 10:00:13 PM
I like your opinion. I would do the same. Survival is the name of the game until you can get on your feet.
I remember a question brought up on a financial show. They said imagine you run a business and are successful. You have a client however who is 50% of your business. One day the client unfortunately discontinues his contract with you. What do you do?" There were comments to increase advertising immediately, hire more sales force, sale more product to the existing customers, etc. Then the mentor came back and said she appreciated everyone's comments but what good are all those things going to do if you go bankrupt. The first thing you do is you cut your overhead to the bone so you don't lose your company and then build it back as revenue dictates. All just my opinion as well.
I remember a question brought up on a financial show. They said imagine you run a business and are successful. You have a client however who is 50% of your business. One day the client unfortunately discontinues his contract with you. What do you do?" There were comments to increase advertising immediately, hire more sales force, sale more product to the existing customers, etc. Then the mentor came back and said she appreciated everyone's comments but what good are all those things going to do if you go bankrupt. The first thing you do is you cut your overhead to the bone so you don't lose your company and then build it back as revenue dictates. All just my opinion as well.
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