When the economy tanks, you have 2 ways to respond as a business owner:
- Feel sorry for yourself. Make backup plans. Peruse job websites. Put the thing you've been describing as your "dream" on hold…again.
- Make a plan to adjust. Fight back.
There are WAY too many "Option 1" people crying that the sky is falling right now.
Those of us who have been through economic downturns before (and thrived) see it differently.
This is NOT impending doom for your business.
In reality, it's a lot like the "check engine" light coming on.
It's the PERFECT time to pause for a minute, pop the hood, and give your business a quick inspection.
Specifically, there are 3 "vital signs" I check:
- Top revenue sources from the last 90 days: Simply put, what product(s) or service(s) have you sold the most lately? If you're a 1-product business, this is pretty simple.
- Top customer acquisition channels from the last 90 days: That's a fancy way of saying "where did your customers come from?" Were they referrals? Did you have a piece of content go viral? Did you run a special promotion or launch? Dig into how people found your product(s).
- The "why" behind the buy: This isn't a simple metric you can pull up in a dashboard. Think back to your conversations with customers—what drove them to buy from you? What problems were they dealing with? What was it about you that made them think you could solve it? Make a list of all the possibilities.
Reviewing these 3 vital signs is like rocket fuel for growing your revenue.
If you're worried or struggling to come up with a plan in the face of uncertainty, you should do 2 things immediately:
- Check your business's 3 vital signs.
- Go over your findings with an experienced, unbiased business owner you trust.
I'm making my team available all week to be that experienced, unbiased voice you need right now.
We're here to look under the hood of your business alongside you and help you create a plan to thrive in the coming months.
We're in the trenches with coaches, consultants, and course creators every single day—strategizing, adjusting, and winning.
Book a Strategy Session with us now so we can do the same for you.
After you book your call, we'll take a closer look at your business and identify the 1-2 areas you can focus on to make 2022 your best year ever—no matter what happens with the freaking economy.
During the call, we'll walk you through our approach and show you what's working for our clients with businesses like yours right now.
If it's a good fit and you're interested in working together, we can chat coaching as well.
This isn't the time to hunker down.
This is the time to hunt.
Let's do it together.
- Bryan
P.S. Want a second set of eyes on your business so you can thrive in a hurting economy? Schedule a time to chat here and we'll review the 3 vital that are crucial to sustaining and growing your revenue even during hard times.
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