We tend to increase our expenses when our income increases.
We start to over-hire, move to bigger offices and overspend.
Seldom looking at creating liquid assets (Emergency Funds) for our business.
Every business has dry seasons where sales become difficult.
Recessionary markets are becoming an irrefutable phenomenon every 2-3 years.
Slow market is an excellent opportunity to:
1) Retain the right talent!
2) Handle unresolved personnel issues.
2) Create optimum structures to run businesses.
Believe it or not, the dust does settle and companies with the best talent reap results!
Stop firing & start retaining!