It's been over 6 years since the Great Recession, which technically ended June 2009. However, the effects of the recession lasted for many years after that due to past due bills, reduced hiring, and limited re-investment into your business during that time, which ultimately may have stumped your company momentum and overall growth path.
If you are a business owner, you likely spent many restless nights wondering how you were going to make ends meet. Just because there is a recession doesn't mean you don't have the same amount of bills to pay.
I have noticed that if I see my sales dip, I bring on the hustle and bust my butt to sell more, market harder, and network in a more creative way. I continue this until I see positive results, and then I take a deep breath and relax.
I realized several years ago that my business revenue had many peaks and valleys. This was due to me working much harder to get new clients during slow times and taking a breather from activities that draw in new business during those busy times. After all, when I was occupied with higher sales, I didn't have time to put more effort into attracting new business.
I've gained wisdom over the past 3-4 years and my new philosophy has been to work every single day like we are in a recession. Whether I have more business than I can handle or just enough business, I don't ever want to be in the position again of worrying myself to the point of a stomach ulcer because funds are tight. I live by the motto, "If I'm not growing, I'm dying."
You have to bring on the hustle every day. Yes, that can be a hard thing to do. It doesn't mean you can't take a day off to spend with family or a week off every now and then for a vacation. It means you have to continually strive to be better and more productive with each new day. You have to be creative to find new ways to attract new clients. You have to get organized and not only have a plan, but follow your plan. You have to continually update your plan to see success.
Often when times get tough, many businesses cut their marketing budgets first before they cut other budgets. This is certainly a mistake. You should continue marketing efforts that are successful and that you can measure. Don't let your marketing go stale. Always find ways to improve it and make it more effective.
Don't make the same mistake I made by getting comfortable every time business is good. Continually strive for growth every single day. If you do, you will recession-proof your business.
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