Reducing your salary can be a good way to show solidarity with your employees and free up some resources to keep your business afloat during tough times, Victor Cheng writes. It may be a good idea to lower your pay if sales and profits have dropped or if you need extra cash to help your company enter a new market. "Taking a short-term pay cut now, can help your business fund new R&D investments and enable future sales growth," Cheng writes.

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