Survival Rules During Cyclical Lows

Having experienced three economic cycles, I know the struggle of downturns. But these difficult moments shaped true entrepreneurial spirit. ## Three Misconceptions in Downturns **Misconception 1: Over-contraction**: Cut all investment, miss the recovery. **Misconception 2: Blind bargain hunting**: Think it's the bottom, but there's a deeper bottom. **Misconception 3: Waiting for a savior**: Place hope on external environment changes. --- ## The Right Posture **Protect Cash Flow**: Cash is life; profit is icing on the cake. **Build Internal Strength**: Downturns are precisely good times to improve efficiency and optimize structure. **Maintain Composure**: Don't let short-term fluctuations disrupt long-term rhythm. --- *Cycles are touchstones and accelerators. Endure them, and there's new life.*