How to stay afloat dThe Econimic Crisis need not end your business - hes how you can manage?uring an economic crisis
                     HOW TO STAY AFLOAT DURING AN 
ECONOMIC CRISIS
The crisis...and aftermath
● With COVID-19 rapidly changing the business landscape for 
the entire world, most economists expect a long-lasting global 
recession, even after the virus has run its course.
● You’ll be required to make difficult decisions.
● Following slide have some considerations to weather the 
storm of an economic downturn & prepare for smooth sailing.
Look for new opportunities
● Demands need to be met, as well as innovative solutions.
● Get your team together, or consult a business mentor, to 
brainstorm ideas for products and services that meet new and 
timely customer needs. 
● Now’s the time to boost your company’s quality reputation.
Consider innovative recruitment
● Recruiting during a crisis is Not necessarily a bad idea. 
● Hire freelancers and consider HR consultants for project 
hiring.
● There’s a surplus of talent you can tap into on an as-needed 
basis. 
Don’t panic and Cut costs indiscriminately.
● Distinguish between necessary and discretionary 
expenditures. 
● Look for ways to internally pair down operations costs without 
compromising the quality of your products or services. 
● It’s leadership for entrepreneurs in a nutshell: knowing how to 
make the right spending decisions under adverse conditions.
Keep morale high
● Remind your team of the value of their work and unique 
contributions.
● This keeps them motivated to develop and exchange ideas 
that encourage productivity and build the company up in 
difficult circumstances.
Here’s how you too can find success during an economic crisis 
THANK YOU