How to Survive – and Thrive – In a Recession
Three successful industry executives deliver powerful strategies distributors can use to overcome the challenges of an economic downturn.
Economic headwinds are blowing. Soaring inflation. Rising interest rates. Falling stocks. Declining consumer sentiment. It all has some economists saying that a recession is imminent or already underway.
Which got us thinking: What would an economic downturn mean for the promo products industry? And more importantly, how can distributors survive and even thrive in tough economic times?
In this Promo Insiders podcast hosted by ASI Media’s Christopher Ruvo, three top-notch distributor executives who’ve led their companies to success in both bull and bear markets answer those questions.
Providing insights on everything from how to prepare your business for a recession, to markets to target when things get difficult are Zack Ottenstein, president of Top 40 distributor The Image Group (asi/230069); Kathy Finnerty Thomas, president of Stowebridge Promotion Group (asi/337500), a fixture on ASI Media’s Best Places to Work list; and Tom Rector, founder and CEO of Screenbroidery (asi/305623), an award-winning distributorship and creative merchandising agency.
While a more challenging sales environment lies ahead, these promo pros embrace that and see it as an opportunity – a mindset all who would also succeed should adopt. Says Finnerty Thomas: “We have to be comfortable with uncertainty.”