Why some businesses thrive while others implode during an economic recession remains a puzzle to many business-owning entrepreneurs. Some mistakenly assume that all businesses must suffer through recessionary cycles. But the fact is that some companies are essentially recession-proof, and it is not necessarily because they are bigger, better known, or more generously capitalized. What really separates the successful enterprises from those that collapse during down cycles is that they are organized around a uniquely dynamic and healthier approach to business. They plan for the future and have contingencies in place to confront whatever challenges might arise. They sell products and services that do not go out of fashion as easily. And they focus on profits in an intelligent manner that helps them grow and prosper in both good and bad economic environments. Here are some ideas for creating a company that will greet a recession successfully: Set, measure, and consistently monitor inventory targets, sales goals, and revenues. But make profit – net profit – the main overriding focus.
