Why Every Entrepreneur Must Be Prepared for Tough Times

In this video, Entrepreneur's Insights Editor Liz Webber explains the importance of planning ahead.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
1 min read

As an entrepreneur, it’s important to be present in the daily operations of your business; however, it’s just as important to also focus on the future of your business. Ask yourself this question: Would your business survive financially if something drastic occurred right now? If you answered “no," then it might be time to reassess.

Related: 5 Ways to Prepare for Disaster in a Startup

In this one-minute mentor video, Entrepreneur Insights Editor Liz Webber explains why entrepreneurs must be prepared for anything and everything that might come their way. Webber refers to an Entrepreneur article by guest writer Tony Batman, who describes his experience beating cancer and how he, because he was prepared, managed to keep his financial footing.

“It pays to prepare for those disasters,” explains Webber. “Otherwise, business owners risk losing it all.”

Related: Don't Wait for a Disaster to Interrupt Business. Prepare Now.

To learn more about how you can prepare yourself and your business for tough times, click play.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! Plus, enjoy a FREE 1-year Entrepreneur magazine subscription.
Entrepreneur Store scours the web for the newest software, gadgets & web services. Explore our giveaways, bundles, "Pay What You Want" deals & more.

Latest on Entrepreneur