Rich Dad Radio Show: In-your-face Advice On Investing, Personal Finance, & Starting A Business

Surviving Tough Times: Lessons for Entrepreneurs and Small Business Owners

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Synopsis

Are you an entrepreneur or small business owner wondering how to survive a bad economy? Look no further than the advice of Vic Keller, a serial entrepreneur and private equity expert. In a recent episode of the Rich Dad Radio Show, Keller shared his insights on how to prepare for and navigate difficult times.One key takeaway? Be both a pessimist and an optimist. While it's important to be realistic about the challenges ahead, it's equally crucial to seize opportunities when they arise. Keller also stressed the importance of focusing on efficiency and protecting margins, as well as retaining and serving your customers through increased marketing and promotion.But perhaps the most important factor in building a successful business? People. Keller emphasized the need for a talented and passionate team, and advised entrepreneurs to surround themselves with tenacious, ferocious learners who understand the economy. He also stressed the importance of treating employees as partners, rather than just employees.So, whe