Learn During Lean Periods

A Lean period can be defined as one where there are reduced work opportunities for a business. This may be due to weak market conditions, some policy issue or general sentiment of customers. What should an entrepreneur do during such a period? Learn.

Look Internally: See if you business is running efficiently and can be improved upon. Since you have a lot of time at hand, use this time to improve systems, processes and efficiency in your operations.

Read: Read up on the latest developments in your Industry and know what’s happening all over the world. Try to identify any opportunities to maneuver your business.

Plan: Plan for when the conditions and sentiment becomes optimistic again. Have a solid plan based on your previous experiences. Start building up resources and systems to be able to capitalize on the better periods ahead.