On Planning for the Worst-Case Scenario: Small Business Lessons from the Hollywood Writers and Actors Strike

On Planning for the Worst-Case Scenario: Small Business Lessons from the Hollywood Writers and Actors Strike

The C-Suite with Catherine is a podcast focusing on on entrepreneurship and small business finance through real career stories. This episode discusses the importance of planning for unexpected periods as an entrepreneur using the Hollywood actors' writers' strike as an example.

We'll go over the importance of planning for THREE scenarios in your business:

The Expected Case: When things go as planned, understanding your regular income and expenses.

The Upside Case: Unexpectedly high demand and income, requiring adjustments to accommodate growth.

The Downside Case: Or, what happens in the case of a dramatic drop in demand and income, necessitating preparation to cover fixed expenses and agility to survive challenging periods as a small business owner.

The ongoing Hollywood strike exemplifies the importance of being ready for sudden changes in demand and income. Businesses can benefit from understanding their financial health and making proactive choices even during uncertain times. By preparing for different scenarios, businesses can navigate challenges and emerge stronger from unexpected disruptions.

To access the resource mentioned in this episode, click here to access "Small Business Essentials: The 5 Key Numbers to Know in Your Business"