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Playing it safe in business

  Sometimes it can pay off in the long-run to play it safe rather than take risks in small business. Many talk about the importance of risk-taking in small business. But for all the successful entrepreneurs out there, there are just as many, if not more, who have taken too high of a risk only to fade away, never to be heard of again. There will be times when a small business must take leaps of faith. However, it is worth remembering that, at times, there’s value to being conservative. Here are some aspects small business owners should keep an eye on to ensure they grow a healthy and sustainable business: Marketing Many entrepreneurs mistakenly believe that simply marketing their products or services will guarantee success. However, successful marketing requires time, strategic thinking and a ton of experience to master. Therefore, small businesses should focus first on simple marketing practices that guarantee a more tangible return on investment. Cash It is a sad fact of business life