7 Rules of Doing Business in Turbulent Times

Opinions expressed by Entrepreneur contributors are their own.

Uncertainty, turbulence and rapidly changing business environments pose serious threats to entrepreneurs. Businessmen trim their sails for the weather all the time when looking for new markets, reconsidering their approaches to team management and taking risks to survive the competition. Entrepreneurs cannot indulge in being passive in difficult times.

Undoubtedly, despite the pitfalls, crises do give rise to new business ideas and opportunities. Roughly half of Fortune 500 companies were founded in times of recession or economic crisis, according to Morgan Stanley. Here are seven tips on how to overcome adverse externalities and successfully develop your business.

Related: 4 Steps to Take

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