Preparing for Recession Part 1

Want a clearer picture of what’s working in your business—and what needs attention? Take the free 12 Fundamentals Assessment for a personalized score and your clearest next step: 12fundamentals.comSince recessions are a natural part of the economy’s ups and downs, the question isn’t if we’ll go into a recession; it’s when. And while there’s no way to fully “recession-proof” your business, there are plenty of things you can do to prepare as a business and as a leader. In part one of this conversation, we begin to talk through three principles and ten actions that will help you better prepare your team and yourself for periods of recession.  It’s not always possible to “recession-proof your business,” but you can prepare (0:43) Good leaders respond to crisis, great leaders prepare for it (4:46) Luck is when preparation meets opportunity (7:29) You can’t be strategic if you’re just trying to survive (9:05) There are ten actions that you can focus on to prepare for recession (13:27) 1. Get your house in order (13:58) 2. Reinforce, amplify, and publicize culture (20:42) 3. Understand and minimize risk (26:35) 4. Consistently assess the landscape of reality (31:37) 5. Play the role of narrator (36:14) Check back for part 2 where we’ll discuss the final five actions (41:41) Lead from a spirit of love, power, and self-control, not fear (42:25) Path for Growth MembershipPath for Growth One-on-One CoachingSign up for the Worth it Wednesday EmailJoin Path for Growth on Instagram and Facebook Not sure where to start? Describe what’s happening in your business or team, then explore 400+ practical resources to help you take the next right step: resources.pathforgrowth.com