What business owners should do in a recession, with Forbes Contributor and Economist Dr. Bill Conerly


“Recession” is one of the hottest words in economics right now—and it (rightfully) has many small business owners worried. But the good news is there are steps you can take to prepare for whatever is coming. They just might not be what you would expect.

This week’s conversation is with Bill Conerly, a second-time guest on the Measure Success Podcast. He’s a senior contributor at Forbes, and a consultant who connects the dots between the economy and business decisions. He has the unique combination of a Ph.D. in economics from Duke University and over 30 years’ experience helping companies adapt to changing economic conditions.

Tune into the full episode for more on how to prepare for a potential recession, some of Bill’s forecasts for what’s coming next, when and why small businesses should raise prices, and more.

Here’s a Glimpse of What You’ll Learn: 

  • What’s surprised Bill the most about the economy from Q4 of 2021 to now, plus what he thinks about the Federal Reserve
  • Where Bill thinks short-term interest rates are headed, and what he believes about a potential recession 
  • How it’s determined whether or not the country is in a “recession” — and why that decision isn’t actually as helpful as people might think it is 
  • What Bill has encouraged businesses to do when it comes to determining their “creditworthiness” (even if they’re not currently taking out loans from a bank) 
  • The advice Bill would give businesses who are just treading water right now, amid higher labor costs, inflation, interest rate fluctuations, and more
  • Why it can be helpful to be a little pessimistic when it comes to planning against potential recession 
  • Whether small businesses should be raising their prices right now, and why
  • What Bill thinks is coming for home and rent prices, plus what he thinks is the “fundamental rule” for buying a house
  • Where Bill believes gas prices are headed, plus the lesson we can learn from fuel price fluctuations that can apply to any “capital-intensive” business 
  • Bill’s most important lesson about the economy for small business owners 

Resources Mentioned in This Episode:


Check out this episode!

Comments

Post a Comment

Popular posts from this blog

Business Economics with Bill Conerly

Bill Conerly is a leading expert on the economic forecast and a Consultant, Speaker, and Writer for his company, Conerly Consulting LLC. Conerly Consulting was founded with the goal of helping business leaders improve their company economics. Bill has over 30 years of industry experience, shares his expertise as a Forbes senior contributor, and is the Chairman of the Board for Cascade Policy Institute. His previous roles as the Director of Economic Research for NERCO, INC and Senior Vice President and Economist for First Interstate Bank strengthened his economic strategies. Bill graduated from the New College of Florida with a Bachelor’s Degree in Economics. He went on to earn his Ph.D. in Economics from Duke University. In this episode… When a sizable disturbance hits the economic market, how can we brace for the variations that follow? The pandemic abruptly halted the supply chain, and with the industry surge forward, how can businesses cope with the aftermath?  Bill Conerly is
Read more

How to skyrocket your personal and leadership development — one book at a time — with BookThinkers Founder Nicholas Hutchison

What if you could spend just one day learning what it took someone else *decades* to learn?    That’s the power of picking up a book: you get the most important lessons and advice, condensed down into a couple of hundred pages. Spend just one afternoon reading a great personal development book, and you could reap the benefits for decades to come.    It’s that concept that inspired Nicholas Hutchison to start his business, BookThinkers.      Nicholas is our latest guest and is the Founder of BookThinkers, a company dedicated to spreading the power of personal development books. Nicholas is focused on developing insightful content and interviewing the world’s top non-fiction authors for his podcast, BookThinkers: Life-Changing Books. As a digital nomad, Nicholas runs his business from a different country every month and gives all the credit for this lifestyle to some of the early books he has read.   Tune into the full episode for more on Nick’s top book recommendations (of cours
Read more

Day 7 - One Week officially in the Books

Working on that daily habit to exercise again. 7 Push Ups completed. Starting to get that strength back. For those following, there will be a point that you need to break up the push ups into different sets. That is ok and makes sense. Here's my recommendation, whether you do the push ups from your knees or standard push ups, try to do the most amount of reps in a specific set right before you are unable to do anymore. Rest two minutes and then start your next set. Another option is to split the sets in different parts of the day. As you build strength, you will be able to do more reps in each set.
Read more