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10 Secrets to Recession-Proof Your Business

When the economic outlook is good, most executives focus on growing sales. It's only natural. But when the economy slows and times get tough, the focus inevitably shifts. Most executives turn inward to reassess business operations, as they face hard choices on how to manage the company.

As businesses struggle to survive a downturn, leaders generally behave in one of three ways:

  • "the ostrich" - preserve the status quo, and just hope for the best
  • "the bull in the china shop" - blindly cut expenses across the board
  • "the fox" - use the downturn to make your business more effective so when growth returns you'll be in a stronger competitive position
Coupa encourages leaders to behave "like a fox." Instead of viewing a recession through fearful eyes, use it as a means to pounce on emerging trends – and to get lean, mean, and in position to crush your competition as economic conditions improve.

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