What to do when hard times hit your business

Learn to negotiate during times for your business.

 

At some point, most new businesses will come across rough patches in their business operations. One of the ways you can help your business survive is by re-negotiating terms with your vendors, suppliers, and/or distributors. In particularly your payment terms. Ask them for payment discounts or extended payment terms. Part of being a business owner is the ability to wear many hats, including the hat of a Negotiator. This is a skill that will be very beneficial for the success of your new business.

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