#208: Tactical Tuesday: Future Proof your Business to Achieve Growth & Success

<p><strong>OVERVIEW:</strong></p> <p><span style="font-weight: 400;">Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the</span> <em><span style= "font-weight: 400;">Healthcare Entrepreneur Academy</span></em> <span style="font-weight: 400;">podcast talks about the importance of risk mitigation as you plan for the future of your business. He shares practical advice for navigating risks such as industry changes, new competition, and emerging innovations. Be sure to listen to the end of the episode to learn about the upcoming HEA raffle Jason will host on Facebook. </span></p> <p> </p> <p><strong>EPISODE HIGHLIGHTS:</strong></p> <ul> <li><span style="font-weight: 400;">Business constantly evolves. You have to think through potential risks and “what ifs” to survive anything that comes your way. </span></li> <li><span style="font-weight: 400;">As the founder of your business, you must guide it into the future to not only survive but thrive! Be aware of trends and make plans to pivot and solve problems. </span></li> <li><span style="font-weight: 400;">Jason identifies some of the things that may impact your business—innovation, macro and microeconomics, federal and state tax regulations, and shifts in adjacent industries.</span></li> <li><span style="font-weight: 400;">Every few months, play devil’s advocate or the “what if” game to plan for the short-term, which is three to seven years. Top military leaders do this and it’s called wargaming. </span></li> <li><span style="font-weight: 400;">Use Google Trends to track shifts in different industries over time. Look at keywords related to your business. Monitor the fluctuations and don’t ride a super flat or declining keyword trend. </span></li> <li><span style="font-weight: 400;">Avoid diversifying your business until you have six to nine months of cash reserves in your business bank account to cover payroll and rent.</span></li> <li><span style="font-weight: 400;">At the same time, don’t keep too much money in your reserves. The FDIC only insures up