How to Survive a Recession - To Close, Start A New Business or Hunker Down?
Join us for this episode with Stephen Halasnik, Serial Entrepreneur, founder of numerous businesses including his current one, Financing Solutions https://financingsolutionsnow.com/. With the economic fall out from the COVID crisis and forced shut down of many businesses, a national recession is real and now is the time to examine if your business is ready for it. It's time to assess if your business is in an industry that will likely thrive or survive, or if it will suffer and face a significant challenge in a recession.Stephen recounts the decision process he went through in determining whether to sell, close, expand or contract his businesses in the 2001 and 2008 recessions and the current 2020 COVID recession. Many of the decision processes applied to a business should also be applied to your personal budget. And, if you are a business owner, having your personal budget in order is even more important to making the right conclusions about how to best position your business for a recession.
Duration: 51 min