In this video I'd like to tell you a story
about a conversation I had with someone when
I first went into business and some words of
advice they gave me and they said to me.
Now I knew nothing about business way back then, but I did know that business and bankruptcy in the same sentence didn't sound good, so I was really interested to see what they had to say.
They said look, our message is pretty simple and these folks have been in business for a long time, I was starting a business, I had really no idea at all and they said business you're going to go through good times and bad times, at times you have cash, at times you won't have cash, they said one thing we've learned over the years is that you can't save yourself to prosperity.
You know if you try and reduce costs reduce costs and reduce costs it gets to the stage that actually there is no growth and bankruptcy is really the only option.
And the message they were trying to give me there was that at times when we're under pressure it is very easy to cut costs back out of our business and we should be doing that, that's good business practice, but they were saying invest in your people, think about the training and support systems you have in place, invest in marketing your brand, invest and plant, invest in trying to build the business as opposed to prune cost, prune costs and prune costs.
So it's something that's always stuck with me you know, you don't want to save yourself to bankruptcy.
And the reason I share the message is that in the current economic environment we're in, there is going to be pressure in a whole lot of different areas.
But I think we need to be keeping an eye on that bigger picture as well and continually be investing in both our people and our hard items in our business.
Thanks for watching, I hope you took something out of that, if you like it please give it a thumbs up, uh subscribe to the channel or share with someone else and until next time, catch you later bye bye
