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How to Prepare for Changes in Your Small Business


Published on 2025-01-19 14:21:13 - MSN
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  • Business owners should be ready and prepared for unexpected changes in 2025. Jamar Cobb-Dennard, a business broker with Indiana Business Advisors, says the one constant in business is change. From new government regulations to fluctuations in materials pricing,

The article from MSN Money outlines several key strategies for small business owners to adapt to changes effectively. It emphasizes the importance of anticipating change by staying informed about industry trends, technological advancements, and economic shifts. Flexibility is highlighted as crucial, suggesting that business owners should be ready to pivot their business models or operations when necessary. The article also discusses financial preparedness, advising businesses to maintain a cash reserve to weather unexpected changes. Employee training and development are recommended to ensure the workforce can adapt to new roles or technologies. Additionally, customer engagement is vital; understanding and responding to customer needs can guide business evolution. Lastly, the piece touches on the significance of technology adoption to streamline operations and stay competitive, and networking with other business owners to share insights and support during transitions.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/small-business/how-to-prepare-for-changes-in-your-small-business/ar-AA1xtnSG ]
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