It's no secret that the US economy has been experiencing steady growth for the past decade, but as with any economic cycle, it will eventually end. We should ask ourselves not if but when the next downturn will occur and how we can be prepared.
Today, I want to talk to you about strategies that US companies can implement to build resilience, survive a downturn, and thrive in the next cycle.
First and foremost, let's talk about building resilience. The key to building resilience is to diversify revenue streams. Companies that rely heavily on one market or product are more vulnerable to economic shocks. By diversifying revenue streams, companies can spread risk and ensure that they have multiple sources of income in case one market or product experiences a downturn.
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