How Entrepreneurs Can Thrive in an Unstable Global Economy

cheerful black male entrepreneur talking on smartphone in summer cafe
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In times of uncertainty, entrepreneurs need to be prepared for whatever comes their way. They must be able to execute on a concrete plan and build a team that is ready to tackle any challenge.

Move beyond survival mode.

This is the most important thing you can do for yourself, your business and your employees.Say’s Cheikh Mboup, If you’re only focused on the present and what’s happening now, it makes it difficult to plan for the future or even think about what matters most to you.

  • Focus on what’s happening in the world around you, but don’t let it consume all of your energy or time — especially when there are so many other things that need attention! The goal isn’t just survival anymore; now we need entrepreneurs who can thrive in an unstable global economy by focusing on growth opportunities instead of just making sure they stay afloat through each day (or week).

Create a deliberate, strategic plan.

The best way to ensure your success is by creating a strategic plan. A strategic plan is an organized, detailed document that outlines your business’s goals and how you plan on achieving them. It should include:

  • Goals–What do you want? What are the end results? Make sure these are specific (e.g., “sell 1 million units”) and measurable (e.g., “sell at least $1 million worth of products by December 31st”). Also consider what will happen if these goals aren’t met, such as losing money or customers leaving due to poor service or product quality issues.
  • Strategies–How will we get there? This section describes how each goal will be achieved; this includes any steps needed along the way (e.g., hiring additional staff members) as well as resources required in order for those steps to happen (e.g., new equipment).

Build your team carefully.

  • Find people who are passionate about your mission.
  • Find people who are experts in their field.
  • Look for the right attitude.

Invest in yourself.

You can’t grow your business without growing yourself. The best way to do that is to invest in your personal development, especially the areas where you are weak. If you are not good at marketing but want more customers, then invest in some training or books on marketing from Salesforce or Hubspot. If sales are weak, but that’s not really where you want them to be anyway (i.e., if it’s not part of your core competency), then find someone who has experience selling and hire them as a consultant for a few weeks/months until they’ve helped train up one or two employees so that they can take over sales duties full time themselves later on down the road when needed again by either replacing those employees with new ones who have been trained well enough by their predecessors or simply hiring someone else who already knows how things work within this particular industry niche because they’ve worked elsewhere before coming here


As we’ve seen, the global economy is in a state of uncertainty. Entrepreneurs who want to thrive in this environment must be prepared for anything. That means staying flexible and being able to adapt quickly as new opportunities arise–or disappear. It also means knowing how much risk you can take on before it becomes too much for your business or personal life. Ultimately, though, entrepreneurs should focus on what they can control: their own actions and mindset when facing challenges or setbacks.

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