During the peak of the last economic downturn, Brian Gracon found himself spending a lot of time at the mall. Stopping in to grab some food on the way back for meetings, he was surprised to see crowded parking lots and lines outside restaurants and nail salons.
"I wonder if there are any businesses that … are essentially recession-proof,"he recalls thinking. "It turns out there were many—from luxury car dealers to tattoo shops to nail salons to cosmetics companies." Gracon's research into these economically agnostic businesses inspired a theory he calls "Meconomics 101."
Gracon explains how business can insulate themselves from the market.