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What is think small in strategies for a going concern?

 

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"Think small" is a strategy that encourages businesses to focus on the details and small steps that can lead to long-term success. In the context of a going concern, this means paying attention to the small decisions and actions that can help a business thrive and remain sustainable over time.

Some examples of "think small" strategies for a going concern might include:

1. Focusing on customer relationships: Building and maintaining strong relationships with customers can help ensure repeat business, positive word of mouth referrals, and a loyal customer base over time. This requires businesses to pay attention to the small details that make a difference in the customer experience, such as responding promptly to inquiries or complaints, providing personalized service, and offering incentives or rewards to loyal customers.

2. Streamlining operations: Small changes to operations can add up to big savings over time. This might include reducing waste, optimizing supply chain processes, or automating routine tasks to free up time and resources for more strategic initiatives.

3. Investing in employee development: Providing opportunities for employee growth and development can help businesses build a strong and loyal workforce that is invested in the success of the organization. This might include offering training and development programs, providing opportunities for advancement, or recognizing and rewarding outstanding performance.

Overall, "think small" strategies encourage businesses to focus on the details that can make a big impact on long-term success, rather than getting caught up in grandiose plans or big-picture thinking that may not yield tangible results.