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To be honest, my main goal at the moment is to continue trading at the same levels that I have been for the last few years. The retail market has taken a real hit over the last few months and it has been tough to keep the customers coming in. I mainly deal in luxury goods, a sector that is certainly in danger of losing business as the people’s disposable incomes drop.
Therefore, for me success is more about protecting what I have built, rather than taking my business to the next level. I would be interested to hear how many other entrepreneurs feel the same way, and feel that keeping afloat and retaining existing levels of business is more important than expansion.
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Posts:
31
Registered:
10/10/08
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(4 of 4)
Re: Protecting what I've built
21-Nov-2008 10:33
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Well, I've done both actually (why put all your eggs in one basket?!). I've invested most of my savings in property abroad and have also set up an ISA with Interactive Investor which is an online financial services provider. As you say since shares are so low at the moment, it seems rude not to!
I also find Martin Lewis is really good for money savings tips too, in some respsects it's like he's done most of the price comparisons and thinking for you and picked out the best bits!
Hope this helps!
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1
Registered:
21/11/08
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(3 of 4)
Re: Protecting what I've built
21-Nov-2008 10:15
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Protecting what i ve built includes protecting my spare cash. Does anyone have any advice on what they are doing now that interest rates are getting so low. Should i invest in commercial property, or should and how should i invest in shares as they are so low.
Any thoughts?
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Posts:
51
Registered:
02/10/08
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(2 of 4)
Re: Protecting what I've built
03-Oct-2008 08:15
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Hi
This is the debate that everyone is having at this time and the discussions I have been having are around protecting the customers you currently have, dont neglict them, still treat them well even if they are not spending as much.
Without knowing your exact business, there are examples where the high end supermarkets are loosing business to the lower cost supermarkets - is this an opportunity you could look to exploit ??
good luck and if I can help more just ask..
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Geoff Gwynn
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Posts:
4
Registered:
04/07/08
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(1 of 4)
Protecting what I've built
11-Sep-2008 15:41
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To be honest, my main goal at the moment is to continue trading at the same levels that I have been for the last few years. The retail market has taken a real hit over the last few months and it has been tough to keep the customers coming in. I mainly deal in luxury goods, a sector that is certainly in danger of losing business as the people’s disposable incomes drop.
Therefore, for me success is more about protecting what I have built, rather than taking my business to the next level. I would be interested to hear how many other entrepreneurs feel the same way, and feel that keeping afloat and retaining existing levels of business is more important than expansion.
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