Is it Time to Recession-proof Your Association?
Preparing for a downturn is smart strategy
Happy new year! So, have you made a resolution about what you’re going to do about the coming recession?
I’m being a touch hyperbolic—I’m no better equipped to predict when a recession is going to strike than anybody else who scans the business headlines every morning. But those headlines are concerning enough that a downturn ought to be, if not top of mind, at least on your mind. A sizable number of corporate CFOs believe one is coming in 2019, the markets swooned in unsettling ways in recent weeks, and some who read the market see a slowdown of some sort in the offing.
It’s been a decade since association leaders have had to think seriously about a downturn. That’s long enough, in fact, that plenty of association leaders have never occupied the C-suite to deal with one. “Many leaders today have not really been tested in a downturn, whether the 2007 downturn, 9/11, the dotcom implosion, or many of the others that preceded those times,” tech executive F. Scott Moody recently told Fast Company. “It’s never easy to be a leader, but it is darn harder when the tide is not in your favor.”
Please select this link to read the complete article from Associations Now.