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Tag: recession proof your business

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Recession Proof Your Business Using AI

Recession Proof Your Business Using AI

AI, AI ethics, AI tools, General Business, Homepage, recession proof your business, Small Business Tuesday, August 29, 2023 5:24 am

Are we going to have a recession or not? Ask 3 economists and you get 3 different answers. The best course of action is to prepare and if we don’t have a recession, the business is in a better position anyway. One way to prepare is to deploy generative artificial intelligence (AI). It’s been reported that over half of businesses have already experimented with AI. If you haven’t tried, you may well do so soon. Here’s what using AI can mean to you and how it can help you if a recession occurs. Generative AI Generative AI is defined as a […]
The post Recession Proof Your Business Using AI appeared first on Barbara Weltman.

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Recession-Proof Your Business by Diversifying—5 Ways to Do It

Recession-Proof Your Business by Diversifying—5 Ways to Do It

diversify, General Business, Homepage, new technologies, Online Selling, recession proof your business, Small Business Thursday, July 20, 2023 5:52 am

The pandemic taught a valuable lesson—the need to adapt and diversify. Those that did—restaurants that launched take-out orders and outdoor dining, bricks-and-mortar stores that began online selling—were the ones that survived that crisis. If and when a recession hits, diversifying your business now can cushion you and help you survive. Even if there’s no recession, diversifying can certainly increase your revenue. Here are some ways to diversify. They’re not new ideas, but may be new to your business plan. 5 Ways to Diversify Your Business 1. Expand your product line Whether you provide goods or services, you can add to […]
The post Recession-Proof Your Business by Diversifying—5 Ways to Do It appeared first on Barbara Weltman.

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Recession Proofing Your Business Requires Inventory Management

Recession Proofing Your Business Requires Inventory Management

General Business, Homepage, inflation, inventory management, recession proof your business, Small Business, SMB Financial, supply chain Tuesday, April 25, 2023 5:08 am

In the last couple of years, the biggest concern for inventory-based businesses has been supply chain disruptions. Now, the focus is on managing inventory in inflationary times with the threat of a recession looming. It’s already been reported that there’s an oversupply of cars, which likely will lead to price wars. What happens when there’s an oversupply? Less demand usually means lower prices. As quipped on PictureQuotes.com, “talk is cheap because supply exceeds demand.” While a recession is not a certainty but surely a strong possibility, what should you be doing now to ensure your inventory meets the Goldilocks standard—not too […]
The post Recession Proofing Your Business Requires Inventory Management appeared first on Barbara Weltman.

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Recession Proofing Your Business: How Women Entrepreneurs Survive and Thrive

Recession Proofing Your Business: How Women Entrepreneurs Survive and Thrive

General Business, recession proof businesses, recession proof your business, Small Business, SMB Financial, women business owners, women entrepreneurs Thursday, March 30, 2023 5:14 am

Recessions certainly present challenges, but there are opportunities too. Bill Gates started Microsoft during the oil embargo recession of 1973 to 1975, which is just one example of success that started during trying economic times. When it comes to starting a business or having an existing business survive a recession, I’m not sure there are any strategies or suggestions unique to women entrepreneurs. But this is Women’s History Month so let’s focus on women business owners. Recession-proofing your business with a focus on women business owners: Advice for women entrepreneurs What can women business owners do to ensure their companies […]
The post Recession Proofing Your Business: How Women Entrepreneurs Survive and Thrive appeared first on Barbara Weltman.

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