How to Prepare Your Small Business for Uncertainty: 10 Proven Strategies
If the past week left you wondering, Are we in a trade war?, you're not alone. Whether it’s tariffs skyrocketing overnight, inflation creeping in, or global politics shaking the market—uncertainty is the name of the game.
But here's the truth: if you're a small business owner, uncertainty isn't new. It's always been there. What sets successful businesses apart is how well they prepare for it.
I've lived through the dot-com bust of 2000, the financial crash of 2008, the pandemic of 2020, and now? We're in another era of unpredictability. So let's talk about how to face it with strength and smarts.
Here are 10 strategies you can use right now to protect your business and position it to thrive—no matter what headlines hit tomorrow.
1. Diversify Your Supply Chain
If you make and sell products, you need multiple suppliers and manufacturing partners. Don't rely on one country, one factory, or one distributor. That’s handing your business over to someone else’s stability. Build options. Diversify. That’s how you stay resilient.
2. Review and Adjust Pricing Regularly
Are your prices stuck in 2019? If your margins are too thin, any market shake-up—like tariffs—can wipe you out. Build a regular pricing review process. Understand your costs, your margin, and what you can absorb before you’re forced to raise prices overnight.
3. Build a Business Cash Reserve
You’ve heard the personal finance advice: save six months of expenses. Same goes for your business. If you’re profitable, stash some of that cash. A reserve can help you self-fund through volatility, make smart investments, or survive a slump without debt.
4. Stay Informed on Current Events
You may hate the news—but your business can’t afford to ignore it. From regulation shifts to trade policy to global unrest, you need to know what’s happening. Build a habit (or hire someone) to monitor economic and political trends. It’s not paranoia—it’s preparation.
5. Double Down on Customer Loyalty
Loyal customers are your lifeline. When times are tight, people still spend with the businesses they love. Be that business. Create unforgettable experiences, be consistent, and build relationships that keep your customers coming back—even when their budgets shrink.
6. Know What’s in Your Own Backyard
What if your imported energy gets cut off? What if your national distributor goes on strike? What if you can’t ship across state lines? Understand your local options—vendors, backup locations, resources. A Plan B is only helpful if it’s already in place.
7. Continuously Optimize Operations
Break down your processes. Where are the risks? What could break? How can you streamline fulfillment, delivery, and communication? A continuous improvement mindset helps you spot issues early—and builds long-term stability into your business.
8. Lock in Contracts and Fixed Rates
Prices are volatile. If you can lock in fixed-rate contracts—even at slightly higher upfront costs—you gain predictability. Negotiate long-tail pricing and write everything down. Don’t rely on “trust.” Get it in writing, and get a lawyer to review it.
9. Scenario Plan with “What If” Exercises
What if there’s a protest? A hurricane? A tech crash? Scenario planning (also called business continuity planning) helps you build calm, logical responses to wild, chaotic situations. Your future self will thank you for having a binder of backup plans.
10. Stay Lean, Agile, and Clear
Now is not the time to bloat your team or tech stack. Run a tight ship. Know exactly who makes decisions. Keep your org nimble so you can pivot fast. When the next unexpected event hits, your speed will be your strength.
The world isn't getting more stable—but you can build a business that thrives anyway. Uncertainty isn’t a one-time event. It’s a reality. The good news? You don’t need to predict the future. You just need to prepare for it.
So start now. Even one small action from this list can make a huge difference.
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Want help building your business continuity plan or refining your operations?
Learn more about working with Melissa Franks and the On Call COO team.
