Some Ways to rethink your strategy in this economy
1. Stop waiting for Clients to reach out to you. Improve your marketing efforts and offer samples and best prices to your customers
2. Do not always look for maximum profit; Work with your clients and settle with a mutually beneficial deal.
3. Create a video's on your website where clients can actually see your company and get a feel of all the Cutting tools & Threading Tools that would be supplied to them. Transparency is the key to success
4. Diversify your list of client and try and market your product in different parts of the world.
5. Cut Operational Costs to the maximum
6. Retain all your employees and may be work with them on a Part Time basis.
7. Be willing to change rapidly, this is the key to survive in any bad economy.