How Small Businesses Can Pivot Amid An Unexpected Crisis
- By
Julia Austin
Source: Dean Mitchell / Getty
Keep an eye on internal trends
“Of course there are other signs that changes should be made,” Warner says, explaining that the signs may exist within one’s company rather than within the industry or world at large. “Like if you’re seeing a downward trend, a loss of clients or customers, if you’re seeing a downward trend on cashflow and your margins. Really knowing what those industry benchmarks and metrics are that tie back to the health of your business and monitoring that data on a frequent basis, whether that’s weekly, monthly, or quarterly, based on your sector. Is there a downward trend that should warn you to start moving now to solutions to put in place to get in front of the downward trends?”
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