Entertainment, travel, and hospitality industries, among others, took a hit as businesses and cities shut down across the nation.
Stay close to what you're familiar with. If you try to add too many new revenue streams, you'll end up "not doing any one thing particularly well." So the company came up with two new ways to generate revenue: It launched an executive representation practice to represent entertainment company CEOs and manage their media relations and social media and it created a digital touring service as an extension of their physical touring business.
One of the first expenses CAD Management cut was its office space, Durant said. The savings went toward overhauling the company's website and building a flexible, remote workforce.Businesses shouldn't stray too far from their core competencies, Sury said. The focus should always be on what they do well, how they add value to customers' lives, and how they differ from their competitors.
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