6 Ways to Build a Business That Can Survive ANYTHING

(Yes, Even The Coronavirus!)

Ask yourself, “what would it take to put us out of business?” Consider how Blockbuster Video did not notice the power of online content and streaming, not to mention those red boxes in front of grocery stores.

You need to do a war assessment: where are you vulnerable to attack?

What crushes many businesses is they have all their revenue coming from few sources and when an industry changes or something you have not foreseen comes and wipes out your enterprise. You must plan for multiple sources of revenue based on expanding product lines and services.

What I learned during the economic collapse of 2008 is when you need money, nobody will give it to you as lenders don’t like to put money in companies trying to survive. They prefer thriving companies. My advice? Get credit BEFORE you need it.

We have all heard the wise saying, “it’s not what you make — it’s what you save.” This is true in business as well. I don’t care what your revenue is. Tell me, what do you systematically save, putting in reserves? We have all seen billion-dollar companies go under in weeks due to a lack of cash.

Cash is like oxygen to business — I want endless tanks of it stored up for my companies.

I share these six essential tips with all aspiring and veteran business owners who ask about how to say alive during challenging times.

Go back and read #2 again! It may just save your business someday.

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