I Think We’re in a Recession Now
In our latest podcast episode, the business owners talk about what they can do to prepare for a recession that seems increasingly likely.
Good Morning!
Here are today’s highlights:
The Trump administration is scrambling to come up with a plan for reciprocal tariffs by April 2.
You probably don’t have to worry about being audited by the IRS (and neither do big corporations).
A Ukrainian restaurant on the front lines continues to do what it takes to serve sushi.
Thomas Moser, who sold armchairs that cost $2,730, saw value in different terms: His furniture was meant to serve multiple generations.
THE 21 HATS PODCAST
I Think We’re in a Recession Now: This week, Mel Gravely tells Shawn Busse and Jay Goltz that he believes we will eventually find out that the U.S. economy has already slipped into a recession. The funny thing about recessions is that they can start and even end before the GDP numbers make it official, which leads us into a conversation about what businesses can do to prepare for a possible recession. Mel, for example, says his team is checking in on everyone and everything: suppliers, customers, and employees. We also discuss why a lot of pricing models no longer work, why some businesses have never fully recovered from the pandemic, and how Mel turned around a facilities-management business that was losing $1 million a year.
Plus: the owners debate the relative merits of planning to fund your retirement by investing in a 401(k) vs. by selling your business.
You can subscribe to the 21 Hats Podcast wherever you get podcasts.
