HOW TO BE INDEPENDENT IN YOUR BUSINESS.
You may think that you have left the job market when you quit your job, but the fact is that running a business on your own sometimes means that you rely on many factors. You can only rely on revenue generated by a few customers. You can rely on suppliers to produce products and services for you in a timely manner. Are you really as independent as you think?
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Small business owners who rely on each other earn income from only a few customers. If one of these customers leaves, the business owner will be in trouble. They will strive to generate enough business to replace this unique customer. Instead, try to target specific major customers as well as smaller customers and become an independent business so that you don’t have to rely on one or two customers to make money. In this way, you can diversify your customer list, and if your customers no longer need your services, then you will not rush to pay.
An interdependent company produces high-quality products...just because its suppliers are cheap, on time, and produce high-quality materials. But what if a supplier is late or exits the market at one time? Your reputation is online and you can seek help from you by looking for some other suppliers (if you need them or current suppliers to increase prices) and become an independent business.
Don't define business capabilities too narrowly, you will miss the opportunity. Let new ideas be brought to you through the inspiration of employees, customers and even yourself. See where they take you.
Employees may be shocked when they resign, especially if you don’t have a contingency plan to replace them. Become independent and avoid this situation with proper processes to make it easier to train replacements and make sure you have enough staff to do the job, rather than overwhelming someone who will relieve the pressure soon.
Thank you very much for reading this article.