Cash and Costs are two critical factors in a business. With
costs you need to be stingy, but not petty. i.e. you buy things which are
essential, but do not be ostentatious in spending on things for show and which
does not add value to the business.
Demand factor is also key. Keep the advt. offer going through social media, so that at one point of time, the consumer when searching comes across the offer. At that point, he/she is more likely to buy and not search further for more options if he finds the offer is good.
Ensure sufficient cash is always available. Always have a safety net as Banks, while easy with giving facilities when doing well, pull out the rug and demand the money when it is most needed. Most of the business is evaluated (after revenue growth) by how much of cash is generated by the business. One has to be on top of the Debtors to ensure these are collected quickly in a matter of months or account blocked for further sales to avoid bad debts.
