recession-proof your business

How to Recession-Proof your Business

This is a strange point in time…

We see it too. You’re hustling, reach is wonky, sales are a little quiet and the news is thick with fear. A recession-proof business plan is a must right now.

But despite the doom and gloom around us, there is still so much opportunity ahead of us, if we choose to see it! Our team and our partners at the Hub have teamed up to pull all the important next steps and resources we can, to help YOU stay strong and continue to grow during this time! 

We know that nothing in the economy is ever certain. But whether you are feeling the weight of stand-still sales now, or just want to be prepared for anything, use these tried and true strategies to recession-proof your business from the Hub.

recession-proof your business

Cash Flow Projection

Do you know your cash flow projection for the next four months? This is vital information that can offer valuable insight.

Run this report in Quickbooks, or simply break down your next 4 months’ revenues minus expenses, and remaining cash on hand. Get an honest look month by month at what is happening in your business based on the current trend.

Where does this leave your cash? Do you need a line of credit, or what can you do to move old inventory and get lean?

Unsold Inventory Strategy

Sales are tight, and the inventory you’ve invested in keeps getting older. We get it! Try these avenues for keeping aged inventory moving. Restyle/reshoot/repost old inventory to make it look new, sell in The Boutique Hub Inventory Exchange, on Poshmark, on Facebook Marketplace, local Facebook groups, Shop The Best Boutiques group from The Boutique Hub, or several discount boutique groups on Facebook. You can also try swapping inventory with other stores or drop shipping for them.

Great clean-out sales to run: Deal or no deal, grab bag sale, Freaky Friday $10 racks, or find local events to set up for clearance racks and lead generation for your brand!

Investments vs. Expenses

Understanding your investments versus expenses can clear up some cash for the future. Some of the expenses on your Profit and Loss are investments more than they are expenses. Meaning, that they can provide an ROI. Take email marketing platforms, education, optimized apps, and payroll. But some expenses become expenses when we don’t make them lean. Like unused apps, untrained staff, expensive leases, or unnegotiated contracts. What can you eliminate at home or in business if even for a short time – like Hulu, Starbucks, private labeling, fancy tissue, consolidating shipping down to 3 days a week only, etc?

Resources to Recession-Proof your Business

The Hub is here for you. We created a Recession-proof Toolbox for business owners and retailers to be prepared for anything.

recession-proof your business

In this toolbox page, you’ll find access to the FREE live training we just hosted, Summer School, with 4, 1 hour long videos diving into your best path forward this year.

From there on this page, you’ll find links to both free and member-based resources (for those of you at the Hub) with downloads, checklists, videos, blogs, idea guides, and tools! TOGETHER, we are shaping the future of this industry, as we walk through this opportunity of a time, with one another. Cheering you on always, Ashley Alderson & The Boutique Hub Team & Community

We hope you loved our article on How to Recession-Proof your Business

How else can The Boutique Hub help you grow? Get more information on growing your business by joining The Boutique Hub where we have tons of training, information, and most importantly, connection! www.theboutiquehub.com/join 

Try out our service for a month, cancel anytime. Follow along on Instagram @theboutiquehub!

Skip to content