An economic boom isn't always a boon for entrepreneurs.
Opinions expressed by Entrepreneur contributors are their own.
You've heard the saying: In life, there are no guarantees.So consider this: Although the economy is flourishing andunemployment rates are down, and despite the fact that countlessbusinesses are doing better than ever, continued prosperity is nota sure thing.
Experts insist it's actually quite a challenge to survive ina booming economy, when entrepreneurs are being seduced by the goodtimes, says John Keough of management consulting firm George S. MayInternational Co. in Park Ridge, Illinois. "They expect thosetimes will last forever," he says, "and make longer-rangecommitments based on extraordinarily good times, [a strategy] that,in a downturn, could be very difficult [for thebusiness]."
Continue reading this article — and all of our other premium content with Entrepreneur+
For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:
- Digestible insight on how to be a better entrepreneur and leader
- Lessons for starting and growing a business from our expert network of CEOs and founders
- Meaningful content to help you make sharper decisions
- Business and life hacks to help you stay ahead of the curve