Can You Grow Your Business In A Recession?
it seems like the whole world is in a recession right now - and despite all the optimism, we're not coming out of it just yet (and when we do, there'll be no free rides!).
So what does the recession mean for your business?
My answer? Nothing!
That may seem flippant, but it's not meant to be. Here's the deal... In a recession, nobody stops spending money. but everybody's more careful where they spend it. We all still need food, clothes, housing... we need our cars repaired, we need our TVs working, we need gas, electricity and water.
Being in a recession just means you need to work harder to educate your customers and prospects to the benefits of spending their hard-earned money with you, and not your competitors.
The pie may be shrinking, but you just need to make sure you cut yourself a bigger slice.
I have one client who supplies curtains and blinds - luxury items that people could easily stop purchasing during tight times. However, by ramping up his marketing and going out in search of everyone who's still open to buy, he's grown his business from a £140k turnover last year to an average of £30k per month in the last 6 months! Even if he doesn't grow any more, that'll be £360k turnover - two and a half times what he was doing last year!
So, instead of battening down the hatches and waiting for the storm to pass, put on your rain hat and boots, and get out there!