Adapting to Economic Turbulence in the Steem Entrepreneur Community

Hello guys,
It's a pleasure on my path to share with you all my entries in this week's contest which is titled "Adapting to Economic Turbulence in the Steem Entrepreneur Community" which was organized by @hamzayousafzai. It is an interesting contest and I would love to drop my entry ASAP.

Source

Before we go ahead I would like to invite @malikusman1, @m-fdo, and @lhorgic to join this contest in this community today and share their participation as well, I do hope to see and read your entries as well.

How has the recent geopolitical turmoil affected your business operations, revenue streams, and market dynamics within the Steem Ecosystem?

No doubt everyone has been affected by the recent turmoil in the crypto space. Since the SBD disappeared from the reward system, the platform has not remained the same. You will agree with me that the reward we get now when SBD is not in place is nothing to write home about.

Here on Steemit, this turmoil has affected me because it has slowed my growth on the platform. In the few weeks when SBD was printing, I had significant growth which made me achieve my first 1k SP. The target was to achieve 2k SP before the end of May.

But with the disappearance of the SBD which is due to the price decline of the asset, this dream of achieving such a goal is no longer visible. So this is how the recent turmoil has affected me greatly.

What proactive measures have you taken to respond to fluctuations in Bitcoin prices and disruptions to platforms like Steemit? How are you sustaining your business during these turbulent times?

Up and down movement of the price of crypto is a normal thing and I expect it always. To me, if I need money at any time, what I do is always sell the asset I have in my exchange because you never can predict when the price will rise.

Also, I usually place an order if I have assets in my wallet. This way, I sell even if I'm offline when the price reaches the level I want it to reach. This is what I do always and I use the money to support my business.

When prices are low, the best I do for myself is not to withdraw, I keep accumulating so that I can earn curation rewards thereafter. So the money in my exchange is what I use to run my day-to-day business activities.

This is what sustains me most during price fluctuations in the crypto space and the Steemit platform. Since I have some money saved already I make use of it during that period.

Looking ahead how do you plan to navigate future uncertainties and economic fluctuations? What strategies will you prioritize to enhance the resilience of your business model?

Economic fluctuations will always be there hence we all need a plan to stand strong and not to be taken unaware when the time comes. The major plans I have now are to remain consistent and gather all that I have within the said period.

This involves me remaining consistent and also saving part of my reward and cashing out others so that in the end I can convert this money to fiat when the price is high and keep the money in my bank account.

This way, even if there are fluctuations I can go to my bank and remove the saved money, and then use it for my business before thinking of any other thing.