how to beat an economic recession

how to beat an economic recession (& what to do now to prepare)

You need to know an economic recession is not a war. It’s a chess match. Economic cycles are forces of nature, like an earthquake, hurricane, or tornado. You don’t try to control them or mitigate them.

Instead, you figure out how to use them to your own advantage. You can either build your company to be resilient against them, build to capitalize on them, or allow yourself to get swept away by them altogether.

In the good times, you’ll find a lot of companies floating along, doing ok — but mostly succeeding in spite of themselves.

It’s the downturns that really prove businesses. That’s when you’ll find out which were actually built on a strong foundation, with great systems, great people, great customer base, and a great value proposition. You’ll see which ones were simply shells built with optics & a wall of mirrors.

If you’re waiting to navigate this until the downturn, you’re going to be too late.

It takes discipline, but you’ll 100% want to keep your eye on companies who have:

• agility
• cash reserves
• world-class systems & customer experience

These companies have a VISCERAL feeling associated with them, and if you haven’t ever experienced that, you should do whatever you can to find what it’s like to be in that place.

And if you can keep that experience from getting into your ego, it’ll become a north star. You’ll be able to smell out opportunities that other people are missing.

Few things make me happier than seeing a client who’s committed to being world-class. And few things make me more frustrated than seeing folks pass on simple, inexpensive tweaks that create an “average” customer & employee experience.

Still, at the end of the day, it’s not my choice…

It belongs to my clients…

But for every one who’s willing to say “yes”, I’m going to go all-in and do everything I can to make sure they’re positioned to win.