Will we have a recession? Are we already in a recession? I don’t know. I’m not an economist.
Even if we have a recession — far from a certainty — I believe Northwest Arkansas will weather it better than anywhere else.
For this treatise, however, let’s assume we will at least have some slowdown. One of my pet peeves is how most people believe a recession will hurt their business. That doesn’t have to be the case. Even if your industry is affected in its totality, no single company necessarily must decline in a recession.
You can grow during a recession if you do the right things by taking business away from other firms whose owners are not responding to it appropriately. That is especially true for companies operating in large, mature, fragmented industries with many providers — the exact situation many of our readers are in.
Here are my thoughts on how your business can thrive in…