How To Recession Proof Your Business

We’ve just come out of a boom. For the first time that I’m aware of, there were far more leads than there were people to hire to service, business, etc.

Many people built million-dollar businesses in record time.

But the market is cooling off.

Leads are slowing down.

For those new to business if feels like leads dropped off. Those of us who’ve been through these economic cycles see that leads are getting back to normal.

Moreover, we’re ripe for a correction. I.e. a recession.

They happen every 18 years or so.

After building out business through the Great Recession, here’s exactly what I’d do to make my business recession proof moving forward…

Focus on relationships.

People do business with and refer business to people they know like and trust.

Referrals are your best chance for succeeding during a downturn.

Ad spend is going to go way up. Lead costs are going to go up and the economics won’t work for you anymore.

So you better have the following systems in place:

Step 5 & Step 9 of the DYB System:

Step 5 is Networking:

BNI, Chamber, & Rotary. Being involved in these organizations and building relationships saved my hide.

Step 9 is Staying Top of Mind:

We get so busy chasing new leads that it becomes our only habit for growth.

What we forget is that we have a list of raving fans that we let forget about us.

All you have to do is find creative and warm ways to stay top of mind.

To recap, develop and nurture relationships and then nurture your customer list because those are relationships too, and you’ll have the best chance to recession-proof your business.

Dream BIG
Hustle Smarter
You’ve Got This!

Steve Burnett 🙂

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About the Author

As a newly single father of two from MI, he struggled to start over as a paint contractor in FL, going door to door. His situation was so bad, even the IRS had mercy on him.   Feeling completely hopeless, he remembered the story of King Solomon praying for wisdom. Could it be so easy?   He felt he had absolutely nothing to lose. So, as a bankrupt, divorced, high school dropout, single father of 2 young kids, now living 1250 miles away from all friends and family, started to pray for wisdom.  And while he continues to wait for the wisdom to arrive, what did come was an insatiable desire to learn and read books…  Thanks to God for giving him the burning passion to read books, and attend seminars, (oh and winning the wife lottery) he not only cracks the success code and overcomes the struggle, but also streamlines his painting business in less than 3 years, published a how to book, then sold the company. Now he leads a business coaching company for painting contractors so he can help other businesses, like yours, to do the same. Hear more... http://www.DYBCoach.com/01 Or JoinDYB.com