A Silver Lining in an Economic Downturn - by Ravi Patel

 

Most people are complaining about the economic downturn and how it is adversely affecting their businesses. However, there is a silver lining in this situation and Entrepreneurs should take advantage of it.

 

While business activity has slowed down, Entrepreneurs should take this opportunity to critically examine their  business processes and constructively utilize their human assets (employees) to strengthen and improve their systems and procedures. Taking time now to streamline your operations and intensively train your people will give you a head start when the economy picks up.

 

While continuous improvement should be the goal of every Entrepreneur, the reduced activity now should give a tremendous opportunity to push aggressively and set up improved business processes and trained resources to create competitive advantage when the economy rebounds.

 

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