How to Navigate the Uncertain Economy as an Entrepreneur | $100 MBA Show Episode 2565
The economy is tough right now. No way around it. But as entrepreneurs we know uncertainty is just part of running a business. In fact, some of the biggest business successes happened during challenging times. Remember the 2008 financial crisis? More businesses were started then than at any other time in recent history!
Now is the time to hone our skills, sharpen our strategies, and come out stronger on the other side – and that’s exactly what we’re diving into in this episode.
I’m sharing seven powerful strategies, including creating reliable recurring revenue streams, anticipating your customers’ evolving needs, and building a solid financial cushion. We’ll also cover diversifying your income, staying adaptable, and making those strategic connections that can open doors you never even knew existed.
Let’s turn this economic downturn into our biggest opportunity yet!
Timestamps:
00:00 Welcome to the $100 MBA Show
00:27 Businesses That Started During a Financial Crisis
01:27 Step 1: The Cashflow Lifeline You Can’t Ignore
02:47 Step 2: Are Your Customers Still With You?
04:12 Step 3: A Safety Net Most Overlook
06:27 Step 4: Why One Income Stream Isn’t Enough
08:20 Step 5: How You Will Fare Better During Uncertainty
10:07 Step 6: When The Economy Gets Tough, You Need This
11:54 Step 7: Invest In This For A Competitive Edge
12:51 You Can’t Afford to Miss This