With an economic downturn forecasted by 2021, business owners across all sectors are preparing to batten down the hatches for the next recession. Ten designers—Brian Gluckstein, Sarah Eilers and Sandra Lucas, Jennifer Mabley and Austin Handler, Garrow Kedigian, Lisa McDennon, Amy Lau, Sandra Funk and Keita Turner—tell us how they weathered the last economic crisis and share their strategies for recession-proofing their firms.
Mix It Up
“Diversifying the categories that you work in is a great strategy. Whether you work in retail or hospitality, branch out—don’t do just retail, or just condo development, or just offices. Find some crossover with compatible areas. If you focus on retail, add some hospitality; if you focus on offices, mix in some retail. A diversity of projects leads to new clients.” —Brian Gluckstein, Gluckstein Design, Toronto
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