One effective way to avoid this is to reinvest more into client delivery for your existing clients rather than growth. By ensuring your client delivery is top-notch, you can shore up growth by creating fans who will then refer to you while better retaining your existing clients. This can give you a multi-faceted return on the same investment.
Despite the slowdown that many small businesses are feeling in real-time, the goal at this moment in time isn’t just to survive. Rather, it’s to build a business that’s effective and lean. Then, when the economy inevitably picks back up, you’ve built an efficient business to build on, and you’ve flexed the muscles of regularly monitoring your finances and making data-driven decisions about them.
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