Talk to valued employees. Schmooze with important customers. Of course, a deep recession on the national or state level can severely test even the best, most carefully monitored financial management. You only do the things that keep you alive and jettison the rest. Still, well-managed businesses have higher survival rates, and even new enterprises can make it through a downturn.
Entrepreneurs know that any business has to expect the curve ball, the wicked twist of fate.
No one knows when the next recession will come. But if you handle it the right way, then there is a good chance you will come out stronger. The McGraw-Hill Companies Inc. All rights reserved.