Stumbled upon this fascinating piece from the SmartCompany and thought we would share it. The article is called “Cash is king”: How small business can prepare for economic downturn.
It's got a lot of interesting insights. This one's particularly thought-provoking:
Michelle Hargreaves, founder of NSW-based small business That Ladie Tradie, says she’s found being open and honest with clients, employees and her agents about the dips and dives of doing business has helped immensely.
This includes being upfront with workers about how business is going, particularly in an environment where it can be hard to come across ...