3min chapter

2Bobs—with David C. Baker and Blair Enns cover image

How Would You Prepare for a Downturn?

2Bobs—with David C. Baker and Blair Enns

CHAPTER

Tactic Number Three for Building Resilience in Your Firm

Debt is a trade that we make with our present self and our future self. In this environment, you're making all kinds of assumptions which are almost certainly wrong. Instead of giving somebody a permanent salary increase, consider giving them a one time bonus instead. If you're going to use contractors to keep your variable costs higher and your fixed costs low, then this would be the time to do it.

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