Several economic indicators hint at another looming recession. So how can you prepare your business to ride it out or even to thrive through it? Do a checkup of your business and downsize expenses where possible and start to work on your core competencies. Being the linchpin to your customers will all but ensure your survival. It’s time to break away from the pack, realize the status quo won’t carry you through tough times and that you might be expendable, and work to up your game and expand into other markets if possible. Take a lesson from what goes up in a down economy and prepare yourself for the next economic downturn.
Source: Great Business Schools