ADU 01292: What should we be doing to prepare for 2023?

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Today’s show is a very special show as we wrap up 2022. Our question for today is from Tom, who would like to know what steps should business owners take for a successful 2023.

Thank you for the question Tom. Planning for 2023 which is expected to see a huge recession is no easy task. We share our insights into what we believe will be the areas pilots and business can focus and work for a great year. While this is not the only way to plan for 2023, we share our insights into what constitutes a successful year and how businesses can plan effectively for the year ahead.

We delve into critical areas of business as asked by Tom today – expenses, purchases, budgeting and business growth in a tough economic environment. We discuss the old adage “Cash is King” and how business with cash have often been strong at facing economic challenges. We then discuss about purchasing and strategies for businesses to follow for spending and prioritizing resources effectively. On today’s show we also cover aspects for growing and nurturing your business and these include taking steps such as automation, analyzing expenses and understanding margins and prioritizing business efforts.

Tune In to this details packed podcast !! Write to us at [email protected] to let us know how you would plan your 2023.

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[00:48] Today’s question is about planning your drone business and efforts for 2023
[05:04] Question from Tom Powers on navigating 2023 – expenses, purchases, budgeting and business growth in tough economic environment
[06:46] Rob discusses the importance of capital and navigating tough times
[09:50] Spending on purchases during a possible recession
[11:16] How tough times have the potential to keep businesses busy and growing
[14:38] Structuring things to achieve during lean times and how consistent efforts
[21:40] Focusing on 20% of your work that brings in 80% of your revenue
[24:11] Managing expenses, time management and setting priority for your business such as automation
[25:47] Automating payments and reviewing your business expenses to prioritize margins and identifying opportunities
[25:47] Automating payments and reviewing your business expenses to prioritize margins and identifying opportunities
[27:20] Paul summarizes priorities for business owners in 2023

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