When the environment supports growth, focus your energy on building to the upside. Focus more of your energy on downside protection when times are bad. Are we headed into a recession? As we likely are, I recommend you shift some energy into downside protection as failure to protect the downside is a company killer. Protecting the downside involves conserving cash, protecting your best people, and looking hard at what you can do to take advantage of a recession to eliminate or acquire a competitor, among other things.

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