How to Prepare for an Economic Downturn

These are unpredictable times, to say the least, with all signs pointing to a dramatic economic downturn. When conditions improve, many businesses will not look the same as they once did. Instead of just bracing yourself and hoping for the best, now is the time to take proactive steps to shore up your business. That’s the advice of Jonathan Slain, author of Rock the Recession, who in 2009 had to borrow a quarter-million dollars from his mother-in-law to keep his business afloat. In the years since, he’s dedicated himself to identifying what he could have done differently so that instead of sinking in the downturn, he could have used it to his advantage. We spoke with Jonathan about some of those lessons, how meeting professionals can determine their level of preparedness, and what they should be doing right now to strengthen their business as the going gets tougher.See omnystudio.com/listener for privacy information.

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