This word causes many business owners to quake in their boots! And rightfully so, as a lot of companies DO actually go out of business during an economic downturn. Are you wondering to yourself,
- “Will I have to lay off employees?”
- “Will I have to downsize my storefront?”
- “Will I have to slash prices just to keep my company’s doors open?”
What if I told you that you make your own economy? Would you think differently of the word “recession” then? All businesses require the owner to make educated decisions about how to move their company along in the direction of their dreams, to be successful. A recession is no different in that it requires planning and thinking ahead and using smart methods to anticipate and prevent issues from coming up in the first place. There are a lot of big changes you can make to recession-proof your company. There are also many SMALL things you can do to set your business up for success through this upcoming downturn.