Sin #4 – When Times Are Tough
I Need to Hunker Down,
Save Money, and Wait
for the Economy to Turn
Let me introduce you to a fundamental business principle:
You can never save your way into prosperity.
Never.
Similarly, you can't cost-cut your way to growth. Nor can
you expand your business by hiding in it.
Are we clear?
You see, when times are tough, the business that used to
come from referrals dries up, clients become more price-
conscious, competition gets tighter, and margins shrink. And
as a result, businesses collapse by the thousands.
Do not fall into the same trap.
The truth is, you can only spend your way to wealth. Now
don't get me wrong: you must be smarter, more strategic, and
more precise in the way you spend your resources – but if
you want to survive, you absolutely must learn how to spend,
and spend well.
"Spend on what?" you are probably asking.
Listen for more!