To achieve stability, entrepreneurs can take several steps:
Financial Management: Effective budgeting and financial planning ensure that resources are allocated appropriately, and expenses are controlled. Building Resilience: Creating a resilient business model that can withstand market fluctuations and unexpected challenges. Diversification: Diversifying revenue streams to reduce dependency on a single source of income. Customer Relationships: Developing strong relationships with customers to ensure loyalty and consistent revenue. Employee Engagement: Engaging and retaining employees to maintain productivity and institutional knowledge.