There’s no questioning that COVID-19 drastically changed the U.S. economy in a heartbeat. We went from one of the best economies in history to a recession in a matter of months, or even weeks. With the oncoming next round of stay-at-home orders, many small business owners and entrepreneurs are wondering how they can expect to weather the storm again.
As business owners, it can be tough to know whether you’re making the most of your business assets — especially in a time where many companies have had to shift their strategies to keep up with the new demands of COVID-19. Whether you’re shifting to e-commerce or trying your hand at freelancing parts of your company, the rise in people using technology to work is something that’s likely here to stay even after the pandemic ends.
So if your business needs to revamp its strategy to stay afloat, how can you survive the oncoming financial crisis? From investing in your marketing strategy to building closer customer relationships, it’s important to know what’s next for businesses in the coming years so you can stay ahead of the curve. While your small business may not be at the scale of companies like Starbucks and Delta, there are important lessons you can learn from how they survived economic fallouts of the 21st century like the Great Recession.
Want to learn how to recession-proof your business today? Check out the infographic below for some valuable lessons that resilient entrepreneurs learn during previous U.S. recessions.