Recession Proof: 10 Ways to Make Your Business More Resilient | E311

EPISODE 311: How can you make your business resilient in the face of challenges? Forget the traditional definition of a recession as a financial crisis–it goes beyond that.

When I say recession, it could be when your star employee jumps ship to a  competitor. It could also mean something happens to you, and your business can't run without you. As a CEO, what's your game plan when those happen?

In this episode, I’ll be sharing ten (10) foolproof strategies to recession-proof your business so it can weather any storm that comes its way.

I'll be sharing some practical and actionable steps you can implement as early as possible, highlighting some of the great resources we have at your disposal so you'll be better equipped with the knowledge to run your construction business through any rough waters.

Ready to recession-proof your business? Let’s dive right in!

 

Key Takeaways:

Introduction (00:00)

The many faces of recession (02:25)

Drive your cash flow (04:24)

Focus on maximizing your bottom line (06:24)

Make your team more agile and efficient (11:39)

Monitor your trade partners in your supply chain (17:27)

Establish a go/no-go date on all of your projects (24:05)

Upsell to current and past clients (28:43)

Focus on your core competencies (30:51)

Jim Collin’s The Hedgehog Concept explained (32:10)

Lead your team well (33:34)

Operate as the CEO (37:26)

Leverage the 80-20 principle (40:44)

Quick recap (42:14)

Great resources for you to check out (43:22)

 

Additional Resources:

- Watch the replay on How to Recession Proof Your Business HERE

- FREE training on how to get out of your business and make it run without you HERE

- Hear our clients' success stories HERE 

- Schedule your business evaluation call with our team HERE

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The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time.

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