Tips for Maintaining Your Business During a Recession

There’s a lot of fear and overwhelming for business owners because of the current climate of the economy and impending recession. The recession doesn’t affect all of us the same way and this is something we definitely learned during the pandemic. The best thing we can do is to see how far forward we can look in the market, economy, industry, etc., and do our best to predict what will happen. This week’s episode 94 of Female Founders Breaking Boundaries includes tips for maintaining your business during a recession!

Have you ever felt like you were WAY too busy, stressed out, burnt out, and overwhelmed, so you were advised to delegate some tasks to take things off your plate and free up some time? Except, maybe it didn't work. If getting out of the day-to-day in your business was as simple as hiring more people, then why are you still feeling overwhelmed and burned out? You are not alone! Sometimes, simply delegating tasks doesn’t work and instead shifts your workload from “doing” to “managing.”

I invite you to use the exercise that our own C-Suite clients use to take the first step in turning your team into a well-oiled, self-managed machine- and get you out of the delegation catch-22. Download the exercise here to get started!

In this episode of Female Founders Breaking Boundaries, I share the importance of preparing our businesses for the down economy so we aren’t feeling as stressed or making poor business decisions. I’ll go through some actionable steps you can take right now to be proactive instead of reactive. 

Some of the things I cover in this episode are:

• The importance of focusing on the fundamentals during a recession.
• How a recession can impact your business. 
• Why you need to get really friendly with your finances.
• The importance of having the right people in the right roles.
• How to use the information available to you to be proactive instead of reactive. 
• Simple ways to support your team in times of stress. 

Thanks for listening! Be sure to tune in to all the episodes to receive tons of tools, advice, resources, support, and encouragement that resonate with the modern businesswoman and to hear even more about the abovementioned points.

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Learn more about Female Founders Breaking Boundaries and Casey at https://c-suiteboutique.com/podcast/ 

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Chapters

• 0:00 Tips for Maintaining Your Business During a Recession.
• 3:27 The best thing we can do is try to see how far forward we can look in the market.
• 5:34 Take a step back and focus on the fundamentals.
• 7:12 Consider your return on investment in the recession.
• 12:23 Using seasonal trends to predict the future.
• 14:35 What used to work may not be working for you right now and that causes stress.
• 17:23 Creating a solid financial plan.
• 20:18 Tightening up accountability charts and prioritizing tasks.
• 22:40 How to support your employees through communication.