How to Prepare Your Business for a Recession

Things are looking grim:

  • The S&P 500 is down 20% YTD (source).
  • Tons of layoffs at big tech companies: Klarna laying off 10% of staff. ClickUp laying off 7%, On Deck laying off 25%, Cameo laying off 16%, Rivian getting ready to lay off 5%… and so many more that’s it’s impossible to keep up (source).
  • CPI — aka inflation —at +8.6% over the past 12 months (source).

We’re seeing this in our business too:

Sales data for Originals 2022.
June 2022 was down 21% year-over-year, a marked change from previous months.

It feels a bit like we’re all squirrels nervously stacking food for a cold, dark, long winter.

As I prepare our businesses at AppSumo Originals and Albedo for dark times ahead, here’s what I’m thinking.

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