A Book That Helps You Know How Recession Proof Your Business
When looking to recession proof your business, I highly recommend “Whatever Happened to Penny Candy?” by Richard J. Maybury.
In these tough economic times, it is imperative that you find effective ways to recession proof your business.
As a small business owner, it's imperative that you understand that your business doesn't operate in a vacuum.
There are a lot of variables at play that determine whether your business will actually fail or succeed.
“Whatever Happened to Penny Candy?” is a great book for anyone looking to recession proof their business because it explains economic principles in easy to understand language.
In fact, the author said that he wrote the book because he was having trouble finding a suitable textbook for his economics students.
Investing time with this book will help you to develop a holistic understanding of a variety of economic variables at play when considering how to protect your business from a tough economic state.
Though having a base understanding of economics will give you any business a definite edge, there are many who are totally clueless as to how the basic economic principles actually impact their business.
There are many people, including economists and businesspeople, who have a flawed understanding of basic concepts of like supply and demand, inflation and recession.
You can benefit from reading it, whether you're just starting out or if you've been in business for a long time.
I had a heated debate once with a very liberal friend who was defending labor unions and price and wage controls, saying that they were good for customers and businesses.
His arguments sounded good, but something seemed to be missing.
I ended up reading this book, and I had some good points for my friend next time we met.
“Whatever Happened to Penny Candy?” discusses economics as it relates to money, inflations and recessions, and how inflation leads to a price/wage spiral.
It teaches you about the law of supply and demand, and a lot about economic principles that aren't very clear to you right now.
A sound understanding of these principles and how they work is essential to running a small business.
In fact, it is the author's opinion that starting your own business is really the best investment you can make, and he suggests that business owners study up on Business Cycle Management to learn how they can profit the most from the boom-and-bust cycle that repeats itself over and over in our economy.
The list of resources and suggestions for further reading at the back is valuable to anyone who wants to learn more after they've finished this book...and I promise you, it really is an easy read.
Give your business a boost by investing your time understanding how to recession proof your business and steer it toward success in these tough economic times!
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