Identify the risks to your business and develop ways to mitigate them. What are your contingency plans? In this difficult time, plan for the worse and hope for the best. Ninth, measure where you are. You cannot achieve what you cannot measure. We must keep proper accounts and records. Tenth, we must innovate. I am often told the story about village canteens.
When someone in the village sets up a canteen many others copy irrespective of the size of the market. Similarly, when one sets up a grog place, a few more spring up. Taxi business is the same. It’s a herd mentality. Why don’t we diversify and synergize? Take time to innovate. There are many possibilities out there.