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Recession-Proofing Your Business: Plans B and C

Recession-Proofing Your Business: Plans B and C

business plan, contingency plans, General Business, Homepage, planning, recession, recession-proofing your business, Small Business, SMB Financial, supply chain Thursday, June 22, 2023 5:40 am

It’s common knowledge that having a business plan is helpful, if not essential, in running a successful business. But savvy business owners know that having backup plans to address anticipated or unexpected contingencies is just as important. Understand how contingency planning operates and what matters you should address so that you’ll be prepared to handle a recession if it should happen. How plans B and C work The concept of contingency planning is nicely illustrated by HUD’s approach to winter planning back when COVID-19 was a serious issue. Plan A covered the usual or normal projected needs of communities for the […]
The post Recession-Proofing Your Business: Plans B and C 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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