Stay Lean and Measure Risk

Focus on maintaining a lean business model by eliminating old inventory and adopting just-in-time ordering. Build strong relationships with vendors for secure access to supplies during crises rather than planning for worst-case scenarios. Avoid taking on debt for growth if your revenue is under $10 million, as small businesses cannot afford significant mistakes. Make informed investments and ensure a minimum profitability of 10% before considering any growth initiatives. Small businesses should prioritize sustainable growth and cautious experimentation over risky expansions.