The talk of recession has a lot of entrepreneurs I know taking a hard look at their companies to make sure they can weather the storm if or when there is one. I’ve read several good articles lately that give advice to business owners about ways they can prepare.
The consensus seems to be that you need to complete a thorough analysis of all areas of your business. Look at ways to become more efficient, solicit feedback from your customers, what are you doing well? Where can you improve? Which divisions are most susceptible to a downturn in the economy? Finally, maintaining cash flow is key to survival.
This might seem a bit like a PKF Texas – The Entrepreneur’s Playbook and in fact, this week’s topic will highlight the need to continue to invest in interactive marketing during a recession.
Do you have any tips for the readers? If you’ve weathered previous recessions, what got your company through it?