GROWING IN HARD TIMES ---096
What determines a good business from a great business? In my opinion, I believe a great business is not focused on revenue and success but on long term sustainability. There are a couple of mentions, but specifically companies who survived the dot-com bubble, the 2008 and 2009 financial crisis, and the few mini recessions from then until now, can be considered sustainable companies.
We understand that most businesses that cater to the public sector such as restaurants, bars, gyms, etc have all been shut down. It’s a hard time for many small businesses. I believe that trying to manage a company through a difficult time is not considered a setback, but a period of growth. If you can change your strategy and learn how to adapt, it can be a good learning opportunity.
In order to survive, many businesses are furloughing or laying off their employees. This is a good strategy since wages make up for a good proportion of a company’s cost. Others are applying for zero rate interest loans. These are all good strategies to apply.
We get many questions from customers who ask if we are still open for business. Your concern is greatly appreciated. If you guys are wondering about Linkstyle, the overall eCommerce business is strong. You would expect more people to save their money during this time of financial need, but it turns out that when people are bored at home, online shopping is a good way to kill time. Don’t worry, we won’t be going anywhere.