Economic recessions result in many business owners and self-employed professionals pulling back and cutting down on all business spending including investments. Business owners think that spending money is dangerous, right now. Unfortunately, this line of thinking is counterproductive as you need to start thinking about investing your money wisely rather than wasting it.
Having a proactive approach is one of the best possible strategies to take when the economy is down.
Hiring a business coach will:
- help you make the right investment choices for you and your company,
- provide you with guidance and support, and
- hold you accountable to take the necessary actions.
This will best deliver a clean bill of health for your business to grow when the economy starts picking up.
So why look at investing in a business coaching program right now? Here are 6 reasons and benefits to consider:
- It will keep you focused on the big picture; the road map to your dream business and on how to get there.
- Your coach will ensure you astutely manage your business finances, evaluating on where to spend and where to cut down, so you remain profitable. Focusing on projects with a great ROI is key.
- Coaching will show you how to strengthen and focus your marketing and sales investment. You need to develop new sales and marketing strategies to maintain and increase revenues. Our 5 Ways Strategy will show you how to get the results you desire
- With the help of your coach, you will start hiring and retain A-players – the best employees to creating a winning team.
- Your coach will help you prioritise your to-do list and select between importance and urgency, to ensure you improve your productivity.
- You will improve your leadership skills and business management. Never stop learning and never stop growing.
“Work harder on yourself than on your business.” Jim Rohn
We know that being in a recession is difficult – everybody you talk to is negative about the future. The masses out there see a picture and future of doom and gloom. Do we travel down that pessimistic route business owners?
I don’t think so!
Warren Buffet said, “You only find out who is swimming naked when the tide goes out“. Some businesses will take a knock – how quickly they recover from it will determine their success.
Almost all business owners are finding that they need to work harder and smarter in their businesses just to survive. Tony Factor , a business owner of discount stores decided not to partake in a recession back in the 1970’s. When interviewed about the success of his Discount Stores back then he asked the reporter – “Recession, what recession?”
Now is the time that you really need to focus on your business planing, outsmart other market players and ensure that your business is recession proof. Focusing on cashflow and specific targeted actions will drive your sales while maintaining and growing your income.
It is however extremely important to remember that the biggest reason businesses fail is because they run out of cash. Money management is key and investing in risky ventures is not recommended. You need to proceed with caution and manage your money gap carefully!
Should you want to discuss the impact of the economy on your business and how to navigate through it … I’d like to talk to you. Contact me today by clicking here to complete the contact form and receive a free business strategy consultation regarding your specific needs and let us explore options of how I can help you grow your business.
One smart decision can have a life-changing effect on your business!
Yours in great business,