While there are times to watch your expenses and conserve cash, there are a few areas where it makes sense to invest whatever you can.
Those areas will be different from business to business but usually involve bottlenecks and constraints in your core value delivery.
Your value delivery is the series of actions that your business does to create value.
That could be sourcing products from supplies and dropshipping them.
Or it could be taking raw cloth, turning it into high-end fashion pieces, and selling them direct to customers.
For me, part of my value delivery involves researching algorithms and analysis strategies, turning them into code, and making them available for customers to use as part of my app.
If any step of that process is limited, investing resources to improve it makes sense.
That could be an improved ordering process for the dropshippers, machine to cut waste while sewing, or even something simple as a new keyboard for myself.
The idea is to improve the parts that are holding you back and ignore the rest. Anything that's not part of your core value delivery can be ignored as long as they are still functional.
Eric Davis
Analyze your customer's behaviors before they defect
Your customers aren't yours forever. Some might have defected today, never to be seen again.
You need to analyze your customer behavior so you can reach them before they defect.