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Navigating a Downturn: Strategies for Business Resilience

Tom Spencer

Although it is fairly common for a successful business to generate 80% of its profits from 20% of its products, relying heavily on a small number of products, services, or markets exposes a business to significant risk. Diversify Revenue Streams One fundamental strategy for business resilience is to diversify revenue streams.

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Don’t Drive (Your Business) Over the Curb

Martinka Consulting

Owners travel a road every day and their road has curbs. The industry is shrinking – as in the product is dying a slow death. The industry is shrinking – as in the product is dying a slow death. Possible solution: get other territories or product lines. Flat sales (and therefore decreasing profits) narrow the road.