Advice for agencies in uncertain economic times

by Marla Kaplowitz and Mollie Rosen

While economists are still divided over whether a recession is imminent, it’s clear that times of economic uncertainty are ahead.

Some factors of these are out of our control. But as Benjamin Franklin said: “By failing to prepare you are preparing to fail.” In other words, putting a proactive strategy in place can put the odds in an agency’s favor of not just surviving, but potentially thriving.

Agencies should avoid making changes based on recessionary fears that can put them in a worse position financially. As mentioned in our new paper, Seven Essential Steps to Recession-Proof Your Agency, agencies must look across all aspects of their business but focus especially on cost management, as it’s the area of greatest control.

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