233: How Businesses Can Prepare For Recession

This is certainly a time of uncertainty for the business community and nobody knows exactly what the future will hold. But one thing is certain in uncertain times, especially uncertain markets: your business needs a plan before things go bad.

So we called up Jeremy Senften, Chief Operating Officer here at Rea & Associates, to get his take on recession readiness and what businesses can do now to ensure that they are able to stay afloat over the next coming months. Jeremy has been grappling with a variety of scenarios for months – long before coronavirus — in an effort to avoid a repeat of the last recession. In this episode, he’s going to share insight, best practices, and tips you can take back to your own organization as you formulate a plan for survival.

Listen to this episode of unsuitable to learn:

• How to create a plan for a recession before you need to use it
• Why you should identify one or two main “objectives” to your plan
• How to document, categorize, and priorities the items in your plan

Learn more about this topic:

• Read: “What Is Life After Coronavirus? Coping With Financial Anxiety & Recession Worry”
• Read: “Recession-Proofing”
• Read: “Plan For A Crisis To Minimize The Fallout”

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