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Business Lunch
Tips to Recession-Proof Your Business Strategy
Jun 28, 2024
Learn how to recession-proof your business with tips on diversifying revenue, reducing debt, leveraging AI, and upskilling employees. Discover strategies to enhance efficiency, strengthen customer relationships, and navigate economic challenges for long-term success.
42:08
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Quick takeaways
- Investing in technology can cut costs and boost efficiency.
- Strengthening customer relationships is vital for business resilience.
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Diversifying Revenue Streams to Focus on Existing Customers
When diversifying revenue streams, avoid launching new products to new audiences due to potential unknowns. Instead, focus on selling more to your current customer base for higher margins and familiarity. For instance, shifting to one-on-one services based on customer demand yielded better results than group activities.
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Discover
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