their best advice: innovate, adapt, go online. hang on.
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by rick telberg
卡塔尔世界杯常规比赛时间 research
with lessons learned in painful lockdowns and grueling tax seasons, accountants are scrambling this summer to help their small-business clients cope with a harsher, more unforgiving business environment that demands new technologies, new work processes, and, most of all, new habits and attitudes.
more surveys & research: a crash course in the business of public accounting | cpas see best outlook in three years, with notable exceptions | tax pros race to the finish line | another tax season from hell? |
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accountants are working with their small-business clients to:
- keep up with changes in online technologies.
- learn to be flexible, innovative, and super-scrappy.
- pivot from brick-and-mortar to doing business online and virtual.
- manage new customer and employee expectations, and
- brace for revenue-hungry states seeking revenues from out-of-state online sales.
the terrain will be treacherous. in a 卡塔尔世界杯常规比赛时间 study conducted in conjunction with avalara, the tax management software vendor, accountants – by a margin of almost 2-to-1 – predict “much worse” business conditions for small businesses in the next 12 to 18 months. that’s the bleakest outlook in all five sectors surveyed, including the nation’s economy in general, their firms, their clients, and themselves personally.
in fact, about 13 percent of accountants say the outlook for small business will be “much worse” over the next 12 to 18 months, and another 26 percent say it will be “somewhat worse. some 17 percent expect no change from today’s crisis conditions, according to the 2021 accountants confidence report.
the accountants confidence report, produced by 卡塔尔世界杯常规比赛时间 in conjunction with avalara, measured accountant’s attitudes and behaviors on a wide variety of pressing issues, ranging from the 2021 “tax season from hell” to the rise of cloud-based solutions and the impact of the pandemic on business strategy and risk. but today, this report is focuses on the accountants’ outlook for the nation’s small business economy.
among the optimists, seven percent predict conditions for small business will become “much better,” and 37 percent say “somewhat better.”
the changes accountants foresee are broad and far-reaching and represent the lasting effects of the pandemic.
- about 52 percent term “keeping up with changes in online technologies” as “highly important” with “extensive long-term or permanent impacts.
- some 46 percent say it’s critically important for small business owners to learn how to be more “flexible, innovative, and super-scrappy. and,
- almost 39 percent see survival in “pivoting from brick-and-mortar to doing business online and virtual.”
looming ahead: interstate sales tax issues. it’s been about three years since the infamous wayfair court decision, which allows states to collect taxes on out-of-state sales. the study shows accountants estimate that up to 98 percent of small businesses that should be in compliance are not – meaning they’re vulnerable to costly and burdensome rules, regs and, worst of all, remittances. it’s a disaster waiting to happen.
the forecast for small business
- chicago-based kenesha coleman, who has carved out a highly visible niche as “the beauty cpa” in the fashion business, is telling her clients to build “a revenue stream online.”
- in allentown, pa., cpa rachel wehr says, “keep moving forward, change before it’s too late, manage your cash flow better, build the safety cushion so you can look forward and not be frozen in fear. take care of yourself and your employees.”
- “this is going to be a brave new world,” says catherine anderson, a tax and accounting professional in fraser, mich.
- “small businesses near me are having problems restarting,” according to claudia hill, the tax guru based in cupertino, calif. “when unemployment comp runs out, maybe more people will be looking for work.”
- in st. louis, cpa joe eckelkamp advises small businesses, “know what you do best and do it. if it ain’t broke, don’t fix it. don’t try to be all things to all people. pay attention to relationships.”
- “lots of small businesses are struggling and closing permanently,” notes catherine anderson at anderson financial services in fraser, mich. “this pandemic has really gone on too long for some businesses to survive.” her best advice to small businesses: “you need to be scrappy and be able to pivot on a dime! don’t spend a nickel that you don’t need to.”
- from the west african war-torn country of cameroon, christopher awungjia at a pkf affiliate advises, “go digital and learn to work as teams.”
- mike kridel, the @forensiccpa on twitter, says, “focus on cash and credit management. become more web-centric and invest in productive tech stacks. value employees more and don’t prejudge loyalty.”
- in irving, texas, dionne cheshier at cheshier tax resolution, forecasts “much worse” for small businesses, explaining, “the proposed tax laws are going to absolutely kill the clients and take their money.” adding, “hold on, the storm won’t last forever. with a storm, there is always a calm afterward.”
- “our economy is suffering,” says teresa m. ferro, an ea in okatie, s.c. “businesses are closing due to lack of staff.”
- “small businesses are still struggling with supply chain issues and other new challenges,” says timothy wright, a cpa in plano, texas, who sees small business conditions ahead as “somewhat worse.” but, he adds optimistically, “overall, things are picking up elsewhere.” his best advice to small businesses: “prepare to be flexible and prepare for change.”
- “small businesses are being challenged for complex tax laws, higher tax rates, and faced with lack of employable staff,” according to tamatha k polichetti in bedminster, pa.
what’s your best advice for small businesses these days?
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accountants have no shortage of observations and advice. here’s a sample:
- learn to be flexible and embrace change.
- stay flexible, have the “worst-case” scenario plan in place just in case.
- must be able to adapt to the rapidly changing economic environment.
- control your costs, maintain a strong cash position and retain your good employees.
- hunker down.
- winston churchill’s: when you are going through hell, the best option is to keep moving!
apply for every grant available. - hope.
- the government needs to stop changing things midstream, and we really need to be flexible with more options for clients to do their returns.
- pivot and keep moving forward.
- remain flexible, continue to develop new ways of doing business, and have good advisors around you.
- be flexible.
- specialize.
- try to make yourself more competitive.
- be flexible and open to new revenue opportunities.
- be nimble!
- stay liquid.
- stay aware of doing business differently, even going back to the office.
- find a niche. be flexible. survive the short term while planning for the long haul.
- watch your cash flow and be creative!
- build and improve your computer/tech resources and skills.
- be relational and intentional.
- prepare to be flexible and prepare for change.
- plan for tomorrow today. focus on factors you can control.
- learn technology and then expect it to change. do not get behind on paperwork and keep records.
- close! so they don’t lose money.
- time to learn about the key differences in a high inflation economy versus a low inflation economy.
- get and keep good employees.
- to be tough and hang in there as the economy will improve more.
- be well funded. be prepared to pay more for employees.
- change the way things used to be done.
- hang in there, take it slow.
- keep the pedal to the metal and hand in there. don’t give up.
- business models are changing.
- they know what they have to do. expect more online purchases.
- expect disruption.
- the pandemic will not be the last thing to turn the economy on its head, so have a plan and always look for ways to survive.
- work harder.
- flexibility.
- keep your head up!
- don’t give up your dreams. learn to adjust
- be flexible.
- adapt your business to the technological advances that came about during the pandemic (social media, online ordering, etc.). focus on your core business and keep pace with your competition.
- be flexible.
- have a revenue stream online
- personal relations will keep customers coming back. electronic security will be challenged and should be outsourced.
- innovation. innovation.
- stay awake to changes
- be flexible – invest in technology
- stay in the know! things may seem like they are getting back to normal, but we all know they will never be the same. stay abreast of changes in your industry and make management changes in your business to use the current environment to build your strengths.
- keep informed of all the tax and new regulations coming down from the us government, and make sure to properly utilize the loan facilities available to support your business.
- how do you plan and invest for the future when we can’t even predict what will happen in short to mid-term.
- getting known by your community.
- quit or retire.
- do not expect that everything is going back to normal until 2023.
- take one day at a time and continue to keep ears and eyes open regarding government assistance.
- control and manage cash flow.
- keep adapting to your customers’ needs.
- keep moving forward, change before it’s too late, manage your cash flow better, build the safety cushion so you can look forward and not be frozen in fear. take care of yourself and your employees.
- don’t get comfortable, work on growth, have backup plans for suppliers and employees.
- e-commerce. new platforms. and more taxes.
- before making major changes contact your cpa /ea first
- get online, be remote work-ready, manage customer expectations, be flexible
- hang in there and think outside the box!!
- stay flexible and informed.
- conserve cash.
- be careful.
- patience.
- get really laser-focused- know your ideal customer. know your ideal employee.
- know your “zone of genius” and outsource or delegate everything else.
- try to survive until the economy opens back up.
- be flexible.
- eliminate the need for humans and employ more technology.
- be responsible.
- be adaptable.
- think outside of the box.
- hold on. the storm won’t last forever. with a storm, there is always a calm afterward.
- don’t give up.
- stay agile.
- be cautious.
- stay financially conservative.
- be unconventional. think outside of the box.
- knowledge is power
- stay the course, don’t let the media hype and “buzz” control your direction, your destiny, and ultimate business goals!!
- as always, adapt or die.
- remain focused on delivering your best product to customers.
- be flexible.
- cybersecurity!! be vigilant.
- keep pushing through. you’ll make it.
- make the accounting piece of your business a priority and hire outside help before you need it.
- technology and consumer needs continue to change and evolve.
- being flexible is key to sustaining future growth.
- not forgetting where you came from is key to success in the future.
- be flexible and adapt to changing conditions.
- think outside the box to increase your offerings and improve profitability.
- take it slow when making changes to adapt.
- be flexible…stop multi-tasking and focus on one thing at a time.
- hang in there. hope is on the horizon.
- be flexible and prepare.
- be innovative and light on your feet.
- stick to procedures
- figure out what works.
- be wise, spend smart, don’t trust government or politicians
- adjust to the changes and keep adjusting.
- try to hang in there. get help!
- adopt a.i. technology.
- hang in there!
- cash is king, and moving to a profit-first model ensures the ability to weather storms like covid.
- be on a quarterly tax planning session with your cpa to keep your tax plan on track with changes in your business itself for strategy changes, tax law changes, opportunities, income fluctuations throughout the year.
- expecting to continue to see significant change ongoing and a static saly plan won’t provide what is needed.
- work with a proactive cpa partner who does planning, not just as a tax return preparer.
- be good at what you do, and farm out anything you are not good at. learn to market your product/service online as a driver of sales.
- all plans are subject to constant change.
- do not take the 30-year sba loans.
- if you cannot manage currently, i would modify costs.
- work, work, work, but work smarter!
- customer relations.
- do what you do best.
- hire great staff.
- remain vigilant and become flexible.
- stay nimble.
- concentrate on your niche.
- plan for government policies/spending
- hang in there
- try to keep up with the daily challenges and adapt to the now and the future changes.
- find a way to continue commerce if at all possible.
- increase your ability to work in a remote working environment.
- follow cdc guidelines.
- hang in there.
- be hyper-alert and subscribe to peer marketing groups, stay healthy, and let people know the steps you are taking to keep people safe.
- pay off debt
- don’t leverage beyond the business’s capacity to repay.
- stay lean and liquid.
- conserve cash. work with fewer but better-trained staffs
- you need to be very certain you have a viable model for profitability quickly-less tolerance from clients.
- stay vigilant.
- better start running your business as a business, in a more mindful way, not as a job you created for yourself.
- stay lean and mean.
- monitor cash flow regularly.
- provide quality service/products. whatever you do, if you provide excellent service/products, customers will keep coming back. there are enough crappy service providers out there. don’t be one of them.
- keep up with technology.
- how you reach customers today is not how you are going to reach them tomorrow.
- we are living in an environment that expects 24x7x365 access.
- roll with the punches.
- we can’t be stagnant when things change.
- stay on top of your market and know your customers, and be ready for anything.
- keep debt to a minimum.
- do you really need an office?
- be firm with employee expectations.
- owners are stressed; they need to take more short vacays.
- embrace virtual for your business.
- stay current and adapt.
- get a good cpa.
- if you insist, then plan on total sacrifice for ten years.
- being flexible and looking at markets outside of your box, and being willing to change.
- innovate and help clients move ahead of their businesses.
- get in the cloud.
- get a plan. stick to it. but be flexible. i always have a plan a, b, and c. watch the market but listen to your customers.
- keep a good handle on the situation of your employees. make sure they are ok. look around when you go into stores.
- see what’s happening. watch the moods of people that you contact in public.
- watch the political climate, but don’t get involved until it’s imperative.
- stay abreast of issues and changes with their business.
- fight to get government control out of your business.
- as always, know your why, and remember if you don’t adapt, you will die.
- hunker down.
- it’s going to be a bumpy ride.
- don’t open a blockbuster or radio shack franchise. (haha) or any business product or service on its way out.
- work hard, stay positive, never give up.
- learn as much as you can from others.
- all we can do is hang in there and hope for the best.
- adjust & adapt.
- keep pressing forward and do your best not to listen to mains steam media. get your data from alternative sources. stay well and manage your health wisely through eating right, exercise, v c, zinc, vit d, and stress management.
- look for new ways to do business in a changing world.
- relationships are important. care and provide great service.
- keep plugging away and control expenses.
- pay attention to your customers and competitors
- cash is king.
- stay abreast of the changes in technology that can help them.
- look at all options and be creative.
- know what you do best and do it. if it ain’t broke, don’t fix it. don’t try to be all things to all people. pay attention to relationships.
- it depends. the most important is to embrace technology and your people.
- cash is king.
- be resourceful and always have extra working capital.
- be ready for new opportunities.
- focus on cash and credit management. become more web-centric and invest in productive tech stacks.
- value employees more and don’t prejudge loyalty.
- prepare for the worst, but don’t become paralyzed!
- hold on and survive the next 2 to 4 years.
- invest in digital advertising, lose the brick and mortar if possible.
- get used to online and zoom.
- stay awake.
- make the necessary changes now, and don’t wait.
- test run combinations of technology before you need to use it!
- be flexible.
- build loyalty.
- be thorough with your business plan.
- don’t be afraid to ask questions: consult others in the field you are entering.
- do not expect to be a millionaire any time soon.
- have strong project management skills and strong computer interaction to address whatever situation comes up and be willing to trust in technology.
- embrace technology … keep up with the changes.
- modify your current business model, products, and services to meet the needs of your current and future customers.
- closely monitor your cash flow
- redefine your business to fit the world today.
- go digital and learn to work as teams
- who knows what’s coming.
- brace for a downturn.
- utilize all the grants and federal funding that you are eligible for at this time.
- utilize technology to leverage your business as best as possible.
- don’t continue to use covid as an excuse for declining customer service. customers can see right through that.
- budgeting and making sacrifices
- develop a budget as best as possible and keep a close eye on results versus budget.
- implement changes on the fly as necessary.
- hang in there, stay agile, keep flexible
- be nimble and open to changing your model.
- apply for ppp draw 2 if you haven’t yet, and explore all relief measures.
- be respectful and timely.
- relationships are more important than ever. don’t let the pandemic and the virtual business allow you to lose touch with your clients!
- be savers and plan for potential economic downturns.
- be ready for major changes and be able to react to those changes.
- avoid taking 30-year sba loans that need to be repaid personally.
- educate your customers on the importance of doing business locally.
- make good use of social media.
- be flexible. be patient. don’t move too quickly.
- there are two economies emerging: a “uniform economy” and and “white glove” economy.
the modus operandi of the uniform economy will be virtual (i.e., not in person), mass production (think the way you feel at the checkout line at wal mart), and low impact (i.e., little to no customer service).
in contrast, the white glove economy will be brick and mortar (i.e., face to face), job production (i.e., a la carte – think of how you feel when you walk into a charles schwab branch), and high impact (i.e., extra-ordinary customer service).
the vast mass of consumers will exist within the confines of the uniform economy, say about 80-90%, with little to no chance for advancement.
the remainder will exist within the white glove economy, which, while backward-looking in its approach, will be the engine of prosperity. - keep looking for ways to grow.
- keep your hands in your own pockets
- flexibility.
- focus or make a niche on what you do best and set yourself apart from your competition.
- don’t misuse your resources. improve the quality of service.
- stay flexible and maintain a cash reserve.
- be ready for more change.
- simplify to reduce overhead.
- consult with your cpa, financial advisor, and attorney on important business matters, so you are current with all of the newest legislative changes and technological advancements. …
- be flexible, adaptable, and stay apprised of all the latest news, politics, and technology.
- consult with others both within your industry and outside of it.
- positive impact focus … creating an impact in the market place with positive consistency couple with sustainable results.
- be prepared for everything. be adaptable.
- don’t panic. review what you are doing. go over your costs. develop a budget and stick to it for the business and yourself. expand on what is working and rethink what is not. sometimes we have to let go to survive. …
- good customer service.
- be attentive to what is happening in the world, your state, your town, and your industry. watch what is working and be prepared to change.
- work smarter remotely and move to online shopping…
- keep employees happy, grow customer base adapt to new technology.
- be responsive to changes. become nimble in implementing new directions and exercise thought and foresight in making decisions…
- know your business and map a route to success that will include new pathways.
- show up for work every day. learn and grow.
- stay focused on the kpis that strengthen your business first…. be nimble for growth, but make sure the growth is additive to the value of the business… understanding the intrinsic value drives of their business and keeping a kpi dashboard on their improvement.
- cash flow is always important, so take advantage of any government plans you are eligible for now. improve your technology position. most companies will benefit now from the cloud and technology.
- target the right customers and focus on serving them—all of these need to be done profitably. write down company processes and reduce the cost per transaction.
- i believe that the key is to have a mission for the business. for example, i am in business because i want to provide for my community, i want to create jobs, not just for the money. have real goals, positive communication with clients and employees, have a targeted audience, and market to them. follow through with the product.
- find a good cpa…
- put clients first.
- shore up your financial situation while the economy isn’t doing too badly, and always live within your means.
make a plan for your business and keep your eye on tax changes in the next two years. be ready to pivot again… - creating a process of doing business that is easy to navigate and does not create resistance for the customer.
- always look for opportunities to improve your situation by addressing additional revenue streams or decreasing unnecessary or inefficient costs if there is a way to do the work once and capitalize on it moving forward, invest the extra time and effort to do it.
- keep your books current. take advantage of government programs but be sure you aren’t double-dipping. use an outside bookkeeping/accounting firm to help you – you don’t have to do it all yourself…
- remember it’s a changing world – the old ways may not work anymore. what and how can you change your biz to succeed in the future.
- dream big! throw things out and see what sticks – collaborate with employees/vendors/customers and see what they think – you may come up with the best new idea from an unlikely source! don’t just say, “it won’t work”… be open to change – it’s here, and you can’t do anything about it, so embrace it.
- to obtain funding and push to lower state regulations and restrictions. … if they are struggling and unable to obtain aid, contact a bankruptcy attorney.
- prepare, modify, expand to take advantage of government infrastructure spending…
- retail has fundamentally changed.
- if you are in retail, you must adapt to a new customer experience.
- get ready for additional taxes and green regulations.
- hang in there, and things will turn around for the better, i hope.
- we all need to do the best we can and make the best of the situation…
- if you want to save your business, you will need to do what you can to keep your business going, and it will be hard, but in the long run, you will come through this
- get federal help
- stay diligent
- adapt or die
- stash cash
- weather the storm. take advantage of government assistance…
- be flexible—lots of different options working from home and the office.
- focus on technology for automation.
- stay out of debt and build your cash reserves.
- prepare yourself for more taxes and regulations that will all cost you money.
- make sure and do planning for taxes, transactions, and cash flow.
- be flexible.
- find opportunities that dovetail into your main focus.
- understanding your customer and the market you serve and how well you meet their needs and contribute real value…
- understanding the demand for your product or service and adjust accordingly based on industry trends.
- data analytics for key activities driving your business must be looked at weekly to make timely decisions and track your trend for sales, profits, cash flow, and managing your working capital effectively.
- be innovative and evolve.
- be nimble – make adjustments as needed quickly.
- embrace changes.
- get more analytic info and plan to look forward rather than focusing on the past.
- plan for the unexpected. uncertainty is the only constant in business.
- turn to professionals – i.e., business bankers, tax professionals, and attorneys not to feel overwhelmed. innovate and pivot.
- do your best to continue to provide excellent customer service. customers remember that, and word of mouth is still huge in getting and keeping business.
- be innovative and flexible.
- do what you can now. if we don’t cooperate, the big ones will make us extinct.
- do everything and anything you can to keep your doors open.
- this will pass.
- maintaining flexibility, staying on top of technology, and making sure staff and clients are satisfied.
- beware of the coming storm, but there will be loads of opportunities for those who look for them.
- stop thinking about “production” and start thinking more about “impact.” to paraphrase einstein: do not try to be a person of success; seek to be a person of value!
- education education education. more education.
keep swimming…the tide will turn your way eventually. - do what you do best and hire out the rest.
- be flexible and open-minded. what seems to be impossible may actually be possible.
- as always, conserve cash.
- make sure you have relationships with trusted professionals, particularly accountants. many changes are coming, which will require significant planning on your part. flexibility
- find a niche that is not easily entered into and continue to innovate.
- need more education.
- work both harder and smarter, don’t make excuses or blame the economy
- be flexible and look for the opportunity, not the problems, with change, cause change is here to stay.
- buckle up
- change has come. more change is coming. either adapt or be ready for extinction.
- stop relying on business interruption insurance/government intervention to secure the future of your small business.
- secure an emergency capital fund as soon as reasonably possible to avoid external events having the ability to take you out completely.
- show up on time and get the work done.
- innovation will be important throughout your business’s lifetime. don’t just set it and forget it.
- keep qualified employees happy, find new ways to attract quality customers
- be prepared for every eventuality.
- don’t panic, and take a moment to really think about where you want to go.
- concentrate on what you do best and be flexible.
- while the immediate importance of keeping the lights on cannot be minimized, commit to figuring out where your business needs to be 12-18 months from now. to succeed, it may very well look significantly different than it does now.
- be scrappy! get a good cpa to be a continuous business advisor, and be willing to pay for it.
- we were already utilizing paperless, cloud-based software and remote work options pre-pandemic. keeping ahead of the curve is the best advice.
- reduce and minimize debt.
- be flexible and pivot when necessary
- take advantage of the loans and grants offered by the sba and control costs.
- communicating with your clients on the internet
- always be looking to grow, diversify your revenue stream and be nimble enough to make changes.
- have a vision (it should be “pie in the sky”) around which your company’s short-term and long-term objectives are organized.
- cash is king. have adequate debt facilities to deal with asset purchases and cash flow
- adapt quickly. these changes are not temporary.
- planning is essential.
- stay current with the effect of hardware, software, and online technologies that affect your business operations. also, stay current with the business risks associated with the significant changes taking place. stay current with the accounting, legal, and insurance changes associated with your industry.
- get even closer to your clients. they need your help and support more than ever!
- be knowledgeable and flexible. work with a team of advisors to help you with that.
- ensure that you are aware of pending and enacted legislation and regulatory changes.
- align with others – small businesses, networking, and lobbying organizations – and communicate with your government representatives as changes are being offered and considered, which would have a significant negative impact on your small business.
- being aware of upcoming changes, voicing concerns and providing feedback as opportunities present and situations warrant.
- ensure that you are communicating with / seeking feedback from customers as frequently and efficiently as needed or desired.
- get out of debt.
- be flexible.
- be flexible and make changes.
- productize all service offerings.
- obsessive focus on your customers.
- stay flexible and watch what is going on around you.
- be agile and nimble.
- don’t get behind.
- be flexible!
- live within your means and develop good relationships with your best customers.
- be flexible.
- being empathetic and listen to your clients of ways you can help them if they are turning to you
- update your business for remote/online services as much as possible.
- be flexible. embrace online but don’t abandon traditional channels.
- more change is coming.
- stay positive.
- don’t take extra money out of your company.
- set customer expectations upfront, under-promise, and over-deliver.
- stay the course.
- flexibility is key to survival.
- start with the least complexity. focus on how to bring in business. delegate non-niche areas quickly.
- stay small and find your niche; take care of your good employees. they are hard to find
- stay organized.
- you have to be willing to learn and shift to thrive.
- be quick to change. don’t be stuck in the way things have always been done.
- frankly, don’t…..someone starting a small business is going to be even more difficult than before.
- be flexible and set up to do more remote and online business.
- get back to better service and quit blaming covid on delays and poor customer service.
- day by day
- stay informed. there are lots of things changing at the same time. the best way to know how to pivot is to stay informed about all issues.
- innovate wherever you can. beat the amazon’s of the world with better customer service at almost any cost. build inventory where feasible. a lot of people still want to touch the product before they buy it
- be open to change and technology — be flexible. one day at a time!
- relax. it’s going to get better.
- be prepared to take advantage of the changes–get smart on what your clients want/need and be prepared to take advantage of a coming boom!
- show up every day.
- be flexible, and try to build in a “bench” of employee talent.
- keep expenses low.
- understand your numbers and actively manage your business with the help of your cpa team.
- hang in there.
- be aggressive in pursuing options for doing business.
- pay down debt, work hard, and plan on higher taxes.
- manage cash flow very carefully.
- learn to be flexible and fluid.
- be nimble and ready to change on the fly.
- keep going. it will get better soon.
- seek and obtain qualified professional accounting and tax professionals!
- you need to be scrappy and be able to pivot on a dime! don’t spend a nickel that you don’t need to.
- hire people with diverse backgrounds that will complement your knowledge. you can train for skills.
- work with your cpa, communicate with your stakeholders (owners, employees, customers, and vendors), and stay focused.
- focus on the basics.
- review core values, mission, and strategy, and plan for the future.
- know your customers and target marketing accordingly.
- have a plan and continuously review it and adapt to changes.
- keep your costs low and take every government handout you can get.
- focus and maintain good cash reserves