The Entrepreneurs Council: how founders lead through economic uncertainty

Atif Siddiqi, Branch

"Understanding our ideal customer and the unit economics of the business has been crucial. We made sure our business could operate in a variety of industries, especially those where there would be continued demand even during economic shocks, including healthcare, last-mile delivery, logistics, and restaurants/hospitality. Providing continuity and staying responsive to customer needs during uncertain times can make your business more resilient and reinforce your value.

Business resiliency also means ensuring that your business remains adaptable to conditions and can innovate to meet customer needs. We’re always listening to our customers and that’s served as inspiration for the launch of new products."

Diana Lee, Constellation

"It’s crucial for businesses to prioritize resilience by taking control of their own destiny and managing their cash flow effectively. When you have a cash flow positive business and establish targets and bonuses based on EBITDA, you set yourself up for long-term sustainability. Unfortunately, there are too many businesses out there that burn through cash and accumulate excessive debt, which hinders their ability to operate in a sustainable manner."

Arthur Souritzidis, Momentum Solar

"Reinforcing resiliency in your business is a critical and perpetual function of any enduring business. Unfortunately, many companies only go through these crucial initiatives when reacting to difficult circumstances within the business or macro-economic backdrop, and oftentimes that is too late.

As organizations thrive through periods of expansion, bloat is inevitably inherited. New hires are thrown at growth areas indiscriminately, excessive middle management is layered in, and spending authority is widely distributed across the organization.

Work towards efficiency, tightening controls, and establishing metrics to closely monitor employee contributions. This will not only provide the opportunity to stem the tide of bloat, but also provide a means to recognize and appropriately elevate the most valuable employees in the organization.

It is important to remember that good times breed inefficiency, and inefficiency can easily destroy a good business, so we must be proactive in our resiliency efforts."

Gary Cooper, Palmetto Infusion Services

"At Palmetto Infusion, we have overcome many challenges over 30 years. Through it all, two things have sustained us: keeping a low debt-to-equity ratio and surrounding ourselves with outstanding leaders.

You never know how great a captain is until they have steered the ship through turbulent waters. When our financial condition changed in 2022, there wasn’t an atmosphere of panic. We simply rallied and decided how we would make it through the storm together. 

As of 2024, our company is performing incredibly well, our entire team is in place, yet we have had to deviate from our route from time to time. Success is not a straight line. Success is not always pretty. It takes leadership and faith to ask others to walk in the dark and trust that each step is going to be fine when the world around you is getting worse day by day.

So, what have we done to withstand the economic shocks and uncertainty? We have controlled what we can control, with the most critical element being our attitude."