After the stock market’s rocky ride in recent months, some analysts are wondering whether a new economic crisis might be around the corner. Judging by the economy’s overall performance, there is no need for immediate concern. But for entrepreneurs who prefer to be safe than sorry, the question remains: what should you do when the next crisis hits?
What Entrepreneurs Should Ask Themselves When an Economic Crisis Hits
Three questions can help you decide whether to keep your business going.
May 16, 2018
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Summary.
What should entrepreneurs and startup employees do when the next crisis hits? First, how much personal effort are they still willing to make, after accepting that previous efforts amounted to little? Second, what access to cash do they have left, and how willing are they to gamble with it? And third, what is the proven viability of the company’s business model? Examples from three entrepreneurs who pressed on despite the dot com crash illustrate why these questions are useful.