Adapting to Economic Turbulence in the Steem Entrepreneur Community

Hello everyone,
It's your favorite Steemian @rakiya from Nigeria and I'm delighted to join in this contest organized by @hamzayousafzai in this noble community today. It's a wonderful contest and I love to share my participation in it.

^{Image from main contest}

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

Market dynamics refers to the unstable movement of the market within the crypto ecosystem. Steem is also a cryptocurrency hence it is also involved fully.

Recently we saw a sudden decline in the movement of the Steem token alongside another cryptocurrency which has affected if you will permit us to use the word the growth of many users on the platform.

Before the decline about a few weeks ago, we saw SBD printing in full which helps to give users more return but ever since the price decline showed up, the SBad disappeared which made the reward earned on Steem reduce drastically.

So in my case, the decline has made my growth slower on the platform. Usually, I power up at least 50 Steem every Sunday when the SBD is printing but now I can't power up 30 Steem. This is how the decline affected my growth.

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?

Indeed, the price of the cryptocurrency is never stable hence one should always prepare for the worst-case scenario. If that is true, then one should always have a backup plan to survive during the unfavorable conditions of the market.

So, I intend to cash out or transfer out a few tokens when the SBD is printing and then use it to buy USDT and hold so that even when the price declines it won't affect me much and I will have a place to put my hands and get a few money to put in my business.

In doing so, I won't have issues with many price fluctuations especially when it is not in my favor. I have already made some savings which I believe will sustain me and that will also help me to continue growing my account.

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?

For my business, the best I can do as it stands is to gather some money and keep it on standby so that if everything works well for me I can then invest more into the business. Seeing how the crypto price is fluctuating, one doesn't have to depend completely on crypto.

So having another source of income by investing in another project where I can get returns will enable me to save more within the Steem ecosystem.

So this is the strategy I wish to take up to keep my business moving ahead. I do hope it works out well and is perfect for me.

I want to finally invite @vickyson, @jasminemary, and @m-fdo to also join the contest and share their view on the above topic.