By Nathaniel Luce
Publication: THE TENNESSEAN
During tough economic times, entrepreneurs are on the hunt for recession-proof businesses, like funeral parlors and liquor stores. GERMAIN BOER, the director of the Owen Entrepreneurship Center at Vanderbilt University, said it’s less important what the business is than who manages it. “If you have the right kind of manager, they will figure out how to make their business better than anybody else,” he said. Boer said managers who guess correctly about what’s six months down the road are more likely to buy the kinds of products that will sell, for example. Those who cut expenses, even laying people off, earlier than competitors may get an edge in a recession, he said. “If you get a manager who is creative enough, (the business) may not be recession proof, but it may do better than competitors,” Boer said.
