My general belief is that, the best way to save money is to try and make much more money. So rather than drastically reduce your costs to a point that affects your efficiency and quality of out put try to generate more money to offset the new costs. So dropping some products was not going to be the way to go for us. Reducing ingredients was going to mess with the one thing clients like most about our products, taste/quality so that was a no go area.
The market is responding slowly to our price changes but we are also trying to make them understand it where we can. Looks like they are going to adjust just fine with time as we also keep adjusting things here and there to remain afloat and also continue serving the market. Yes, it’s decisions, decisions, decisions. One wrong decision and your gone. One right decision and things are great. That’s the reason you see most CEOs make the kind of money they make even when you feel they don’t do so much of the physical work/heavy lifting. It’s for those decisions that lead every one and everything on, in the right or wrong path.
So make decisions in your business with the importance, proper judgement and urgency they deserve. Take time to critically think about the changes that need to be made. Make them and make them at the right moment. A minute ealier or a minute late can make the difference.
Jaluum Herberts Luwizza is a Speaker,Writer, Columnist with the C.E.O Magazine and Contributor with the Nile Post.He is also a Business Consultant with YOUNG TREP East Africa’s No.1 Business Management and Consultancy firm that helps people start and grow profitable businesses.twitter:jaluwizza
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