Ask a Boss: How Do I Prepare to Do Hard Things?

Adeleke (Ade) Omitowoju

• Entrepreneurship is hard and the last 3 years have been hard. But you have made it to this point and surviving this uncertainty will make you a more resilient company and position you to compete more effectively.

• Cash balance and runway are two of the most important metrics that determine if you survive or not. Often, we see founders who hesitate to make the hard decision to cut back and/or are overly optimistic about future revenue running into problems soon after. As such, you MUST be prepared to make tough decisions:

1. Delaying or renegotiating AP

2. Furloughing or letting go of staff

.Consolidating SKU's

4. Eliminating unprofitable or unproductive business lines or products

Teasers for the Her Fridays (Ties these into the topics)

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