5 Vital Things A Small Business Entrepreneur Should Do In A Market Downturn

How to get through the market downturn and get back on your feet as a small business entrepreneur

Have you seen this economic malaise over and over again? The small business news reveals small business owners asking, “what should we be doing in this financial market turmoil?’ It’s a complicated question, and there are many people who can answer it.

Simplest answer to what a small business entrepreneur should do

Without beating about the bush, this is a buyers market. This is the best time to position your small business entrepreneur mindset to switch up and join the biggest league of the most influential movers and shakers in marketplace.

Why? If over 90% of liquidity in billions of dollars is held in long positions and only a handful of millions in short position, what does this tell you?

Assuming that no black swan event takes place, if you have any bags of cash, you could swap them for the instruments that the whales, wholesalers, and banks are scooping up right now, and hold your horses.

What if you are a small business entrepreneur without access to cash flow that can be set aside for such a risky venture?

Read this disclaimer: The information contained in or shared here is for general information or entertainment purposes only and does not constitute professional financial advice. If you are a small business entrepreneur, please contact an independent financial professional for advice regarding your entrepreneurship situation.

Would you like some advice that will help?

Are you feeling overwhelmed and stressed by the difficult economic contractions, constraints, and challenges? If you are a stealth small business entrepreneur determined to unstuck and scale, here are important things to know and consider when going it alone.

Which are topmost small business entrepreneur characteristics vital for you to thrive? In this situation of an eminent recession, we’ll only tackle two:

1. The extend to which you are flexible and adaptable
2. Having a plan in place for the future

These leads us to the fundamental questions that will help you get past a looming black swan event in the bear market within a slumping economic sinkhole of a deflation.

Question 1: How flexible and pliable are you?

Question 2: What is your plan for the future?

The easiest answers to these questions stem from the subsequent answers to the the following +29 questions. There’s a way out for the savvy small business entrepreneur: get in the right financial mindset.

“After the Big Recession of 2008, many Americans found themselves without jobs, homes, and savings. We realized that we really can’t rely on our 401k’s to keep us safe. It’s up to us to achieve financial freedom for ourselves. And home-based businesses is the way to go.”

― Kevin J. Donaldson

Top 7 questions all small business entrepreneur MUST have answers to

Question 3: How well do you know your business?

• What exactly is your business?
• Who are your customers?
• Who is your competition?
• What are your strengths and weakness?
• What actions can you take today to start improving your business?

Question 4: Who is your competition?

• What do they do?
• Who do they sell to?
• How do they market themselves?
• What are their strengths; weaknesses?
• What can you do that they cant?
• What can they do that you cant?
• Do you know your competition well enough to out-do them?

Question 5: Is your cash flow management strategy strong?

• How are your cash inflows and outflows?
• Ever prepared a cash flow statement?
• Can you access capital like larger businesses?

Question 6: Would love to access an SBA micro loan, just incase?

• Do you know what a SBA micro loan is?
• Why should you get one?
• How much do they cost?
• How do you apply for a SBA micro loan?

Question 7: How strong is your savings plan for the next downturn?

• What are examples of saving money for your business?
• What are the exact steps of setting up a savings plan?
• What is the importance of having a savings plan?

Action plan

Each small business entrepreneur should prep for a recession.

How do you prepare for when the market is down?

Know a small business entrepreneur stuck with the market down turn?

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