23. How to Recession Proof Your Small Business: An Interview with financial coach Kristen Ricupero

Let’s just face it… not many of us were prepared for much of what 2020 threw at us. Mentally, emotionally, or financially. As small business owners ourselves who always thought we were prepared for the ups and downs of running a business, like many we found ourselves in a new and uncomfortable spot. You can be prepared, but what do you do when outside forces tell you your business isn’t essential? You have to shut down for 6 months, maybe more?

2020 has taught us how essential having emergency funds are, and the need to be prepared for financial strain and Recessions when they happen. 

Kristen Ricupero is a financial and business coach just outside Pittsburg, PA and is a small business owner herself. She manages financialfitnesscoaching.com and helps small business owners maximize their profits, master their cash flow and build confidence with money.

Questions for Kristen:

1. Tell us a little about your story, how did you end up being a financial coach?
2. Why do you think so many small business owners (or people in general) have such a hard time with financial literacy in the first place?
3. Let’s say someone needs to make a change, and is just getting started with getting their finances in order, what’s the first thing they should do?
4. What are your top 3 tips in Recession proofing your business?