Surviving The Cycle

So you’ve survived the economic downturn. Now, the question might be, are you ready to take advantage of the next upswing — because inevitably that’s the nature of economic life in a modern economy. One key to surviving downturns, and thriving during upturns, is a strategic approach to business planning.

The best businesses think through two extremes—what is my dream scenario and what is my nightmare. Once you think about how you’re going to operate in those two extremes, it gives you to the confidence to make decisions in any scenario that falls in between.

This article draws on two experts: John Bayliss, a principal with the Boston Consulting Group in Toronto, and Dawn Desjardins, assistant chief economist at RBC^®.

Find out the “7 Signs Your Business might be in Trouble” and “6 Tips on Coping with a Downturn”.

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