Welcome to a new episode of Business Lunch! In this episode, hosts Roland Frasier and Ryan Deiss discuss essential strategies for businesses to not just survive but thrive during economic downturns. They cover topics such as diversifying revenue streams, reducing debt, leveraging AI, and much more to ensure your business remains resilient and profitable.
Highlights:
"Investing in technology can cut costs and boost efficiency."
"Strengthen your customer relationships; they're your most valuable asset."
"Always be upskilling your employees to enhance their value."
Timestamps:
00:00 - Diversifying Revenue Streams: The Smart Way
01:17 - Introduction and Current Business Climate
02:28 - Economic Shifts and Business Adjustments
05:00 - Indicators of Economic Recession
06:14 - Building Cash Reserves for Stability
08:08 - Reducing Debt to Free Up Cash Flow
10:14 - Reassessing and Prioritizing Expenses
17:11 - Leveraging AI for Cost Reduction
18:54 - Upskilling Employees for Greater Efficiency
27:41 - Acquisitions as Growth Opportunities
CONNECT
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RESOURCES:
• 7 Steps to Scalable workbook
• Get my book, Zero Down, FREE
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Mentioned in this episode:
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