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How do you build a resilient business despite the market conditions? In this video, I share 10 traits that’ll help you create a recession-proof business that’s built to thrive in change.
The first one is prudence. Exercise caution over false optimism. Believe in your business, but also challenge that belief.
Second, you need cash. Make sure you have sufficient reserves for whatever direction you need to go in.
Third, more cash! It’s important to be able to access additional cash if needed. This might mean that you have liquid assets, or that your business is lendable. Just don't become too reliant on your lines of credit.
Another important part of building a resilient business is to nurture key business and financial relationships. Having a trusted coach, business banker, attorney, insurance agent, and CPA will greatly help in building a recession-proof business.
Make sure to also have a stable team. My team is aligned with our values and our company goals. Are you building a company where people truly want to stay?
I share 5 more traits that make up a truly resilient business. If you’re looking for ways to improve your business this year, then start working on these 10 fundamental traits I share in this video, and create a recession-proof business that’s sure to outlast the economic threats we face today!
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Karie Kaufmann
San Diego Business Coach
ActionCOACH Business Coaching + Training Center
3111 Camino del Rio N STE 101, San Diego, CA 92108
(619) 321-9262
www.kariekaufmann.com
LinkedIn / kariekaufmann
Facebook / coachkarie
Instagram / coachkariekaufmann
Stock footage provided by Videvo
Video edited by: www.dennisleyton.com