4 Ways to Recession-Proof Your Business
Image by Colorjoy Stock
Let’s talk about the “S” word, babe– Sustainability! There are so many moving parts to building a small business to be proud of, and one of them is making sure your biz baby is protected from the many obstacles that come your way, including a downturn in the market like a recession, for example. We asked our community of members to spill the beans on their most ingenious sustainable business practices and to share the secret sauce to recession-proofing their ventures so their business could thrive in ANY market. The responses are in, and let us tell you, they're nothing short of inspiring! Buckle up, babe! Here’s your guide to making waves while building a strong, sustainable business.
Brittany Ranew | Brittany Ranew, Realtor & Author //IG
“Providing value to your clients and focusing on relationships will never go out of style! No matter what, people always want to work with like-minded people. If you focus on providing value and showing up as your authentic self, you will always win.”
St. Pete, FL
Geily Romero | Cutting Edge Financial Solutions //IG
“Keeping your business recession-proof comes down to effective cash flow management well before there’s any noise about a potential recession. Maintaining low expenses, setting profitable pricing strategies, steering clear of unnecessary debt, and consistently allocating funds for taxes and contingencies are indispensable practices for small businesses aiming to weather recessions."
Weston, FL
“To keep things sustainable, small businesses can amp up efficiency and get creative with innovation. By fine-tuning CRM systems, smoothing out project management, and jazzing up email marketing with some automation, businesses can run smoother and greener. It's all about finding that balance between being resourceful and resilient.”
Clarksville, TN
Sara Toftegaard | Home & Garden by Toftegaard Design // IG
"There are two ways I go about this:
1. I look for areas in my exterior home & garden business that I can offer out-of-season. I ask myself what are things that are helpful year round for homeowners? For example, people like having potted seasonal flowers, or clear expectations of maintenance between them and the landscape maintenance crew - are there ways that I can extend my services to help fill these gaps? So I have started offering those.
2. I also look to see what else I can offer that's different from my main business. I have a background in graphic design, branding and strategy so I start reaching out to that network and others who I know may need extra freelance help."
St. Pete, FL
Disclaimer: The business owners featured in this blog are members of Babe Crafted (at the time of publishing).
