The economy in Singapore is facing a slowdown, although not many people think it will be a long downturn, but enough to worry many small business owners like myself. In times of crises, I would take financial stock of the business, ensure there is enough cashflow, push for as many orders big and small and hope for the critical breakthrough.
The smile after the struggle, Port Vell, Barcelona Dec 2016
As in a marathon, the struggle to the finish line is never ever easy, for each race is different,and each year presents a different set of challenges, as is 2015, this year has been really good in terms of numbers, but collections and after sales and managing the vendors have been a new experience for me.
I am 100% convinced, that we will overcome all these challenges by this month and make this year a great year to remember, even though the challenges are not easy to overcome.
Finally made it ! 2014 finish line of the SC marathon
It would also be prudent of me to develop the business in a concentric diversification, circles which are outside the industry but whereby the product at hand can be used in differing and emerging markets locally and internationally.
A prudent business owner will be mindful that his business needs to be nimble and fluid, but the efforts,vision, guts and the mental stamina and collective will to carry out the plan well will be the final decider of whether we succeed or fail. 2015 is the year we learn, and learning at this age is always a challenge. It is never easy, but it will bode us well in the future.
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