5 steps you can take today to prepare your business for a recession - and come out stronger than the rest
- Kelly Roach is the founder and CEO of the Unstoppable Entrepreneur, an online business coaching program.
- Roach says that not only can you survive the recession onset by the novel coronavirus pandemic, you can use it to strengthen your company - if you prepare for it the right way.
- Make a plan, adapt your brand, prepare your finances for upcoming hits, consider new essential hires, and sell as much of your services ahead of time as possible.
- Visit Business Insider's homepage for more stories.
Nothing in life is ever a straight line: Small business owners know this better than anyone. And while there have been talks of a recession for over a year, it seems the coronavirus pandemic is delivering the next economic downturn right to our doorstep a little sooner than expected.
With a downswing upon us, how can small business owners not only survive, but leverage the coming recession?
Here are five things to start doing now in order to win during an economic downturn:
1. Commit to making moves that will boost your business now
2. Reposition your brand
3. Get your finances in order
4. Think about who you need on staff
5. Sell as much as you can
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