In my book They Ask, You Answer, I wrote candidly about one of the darkest times in my professional life.  When the ...

What Small Business Leaders Need To Know to Thrive During a Recession By Marcus Sheridan, Monday, May 23, 2022 8:02 AM In my book They Ask, You Answer, I wrote candidly about one of the darkest times in my professional life.  When the Great Recession hit in 2008, we thought our business, River Pools and Spas, would never recover. Almost overnight, we lost much of our expected revenue as customers decided they weren't comfortable going forward with spending on the pool we agreed to.  And it was understandable.  However, within a few months, our business bank account was overdrawn, and we were forced to contemplate shuttering retail stores, laying off workers, and, potentially, closing our business for good.  Now, more than a decade later, I can look back on that experience as a truly formative one in my own development as a businessman and leader.  Today, we again face economic uncertainty that comes from a complex bevy of reasons that stretch around the globe. Although no two recessions are the same, the way you should prepare doesn't change. In this article, I'll share what I learned — and the tips I share with businesses today: Seeing opportunity in every challenge Key metrics to watch for to know what's coming Making plans A, B, and C so you're ready for anything I know this isn't the most pleasant conversation to have, but it's necessary. And you'll be glad you did. Let's dive in. Read more »     Schedule a call with an advisor → Join IMPACT+ for free → What Small Business Leaders Need To Know to Thrive During a Recession By Marcus Sheridan In my book They Ask, You Answer, I wrote candidly about one of the darkest times in my professional life.  When the Great Recession hit in 2008, we thought our business, River Pools and Spas, would never recover. Almost overnight, we lost much of our expected revenue as customers decided they weren't comfortable going forward with spending on the pool we agreed to.  And it was understandable.  However, within a few months, our business bank account was overdrawn, and we were forced to contemplate shuttering retail stores, laying off workers, and, potentially, closing our business for good.  Now, more than a decade later, I can look back on that experience as a truly formative one in my own development as a businessman and leader.  Today, we again face economic uncertainty that comes from a complex bevy of reasons that stretch around the globe. Although no two recessions are the same, the way you should prepare doesn't change. In this article, I'll share what I learned — and the tips I share with businesses today: Seeing opportunity in every challenge Key metrics to watch for to know what's coming Making plans A, B, and C so you're ready for anything I know this isn't the most pleasant conversation to have, but it's necessary. And you'll be glad you did. Let's dive in. Keep Reading  ⟶ How To Build an Effective Instagram Video Marketing Strategy Instagram is doubling down on video, and with the right strategy your business can grab more eyes, traffic, and leads.   Read More  ⟶ 10 Marketing KPIs You Should Be Tracking These metrics are the ones to track to effectively analyze your digital marketing strategy so you can increase traffic, leads, and sales.   Read More  ⟶ Free Course: How to Write "The Big 5" In this course, you'll learn what comprises The Big 5, how to execute them for your organization, and examples of them done well.    Watch Now  ⟶ Follow us on Instagram Check out our Instagram for the most relevant inbound marketing and sales tips, videos, podcasts, and more!   Follow Now  ⟶ Connect with us and share your They Ask, You Answer success stories with hashtag #TheyAskYouAnswer Sent with 💙 by IMPACT  IMPACT, 470 James Street, Suite 10, New Haven, CT Unsubscribe Manage preferences