If the Economy Contracts What Must You Do, Be, and Have to Prosper?

Business Women In Presentations Business Cycle

“As sure as the spring will follow the winter, prosperity and economic growth will follow recession.”

~ Bo Bennett

When Money Flows Up Hill...

Since recovering from the GFC, world economies were on a steady upward curve. By early 2020, unemployment had hit record lows in most of the western world and it was pretty much a job seeker’s dream.

Venture Capital along with both personal or business credit were readily available and small businesses of many kinds were able to establish themselves and build respectable incomes with little or no marketing and very little risk.

That all changed with the global pandemic.

First it was hospitality and travel, then retail, workplaces, schools and almost everything else was either closed or forced online. Suddenly, many businesses were forced to reconsider their economic viability and re-evaluate their strategy, pricing, product offerings and (especially) their marketing and sales strategies.

Just like most other areas of life, a challenging economy is uncomfortable because it asks us to change with no certainty of success. That’s why it’s important to remember that these things go in cycles… and beyond the short term stress are exciting opportunities even if you can’t yet see them.

Responding to Challenge and Change

Our response to economic contraction is very similar to any other form of change – except that we often have very little choice about whether to face it or not. Understanding what is happening and how to respond can speed the (usually) painful process of loss, acceptance, and renewal.

If you look at the following diagram you will see that once we fall into the chasm, we often have to make several attempts before we can climb out on the other side breathless, bruised, strengthened, and with a sense of justified pride.

Some of your peers are still standing fearfully on the edge of the cliff, miserable yet unwilling to jump and trust themselves to overcome the challenge, others were pushed off the cliff and now dangle helplessly with no idea what to do next.

You, however, had the courage and initiative to make your way out on the other side and your horizons are wider than ever before. While you look around and start to make your way forward you call back encouragement and advice to the others and give them a vision to strive for and even pointing them to the handholds on the wall of the chasm.

Universal Model Of Change 1030x796

The Universal Model of change

What Does it Take to Set Yourself up for Success in Any Economy

There are three essential areas that you need to consider (and revisit regularly) if you want to look at your life with any lasting sense of satisfaction:

  1. The kind of person you are and want to become;
  2. The things you want to have; and
  3. The achievements you want to attain and the legacy you want to leave behind.

Your specific answers to these will differ depending on your personal goals and values, but there are a few universal success markers including:

  • Specific goals and dreams in all three areas of your life;
  • Willingness to do the work it will take to achieve these goals;
  • Openness to change and growth in order to learn new skills and do new things;
  • Awareness of your fixed principles and boundaries and a willingness to enforce them even if they seem to stand in the way of your goals;
  • Accurate thinking about each situation and the barriers and opportunities it presents;
  • Consistent readiness to find people and organisations who need your skills, services, and products and to promote yourself to them;
  • Systems for every aspect of your business;
  • Confidence in your ability to figure things out.

If you consistently act in accordance with these markers, then you will be set up to succeed no matter what is going on around you.

The Magic of Selling Without Resistance in Any Economy

When the economy is expanding it is relatively easy to sell. When confidence is shaky and the economy is contracting it is essential to have systems for every aspect of your business sales and customer service areas so that you can attract and nurture a steady stream of qualified prospects.

Building and strengthening these systems is the focus of the Confident Conversion: 90 days to More Cash, More Clients, More Impact which is both a public and an in-house training course. The course takes place online and is a combination of personal exercises, recorded prestudy sessions, and weekly live interactive discussions which wrestle with both the theory and application taught.

If you are struggling to fill your pipeline or realise that qualified prospects are escaping through the cracks in your business then this program may be just what you need either for yourself, or for your sales team.

Visit https://bit.ly/CC-90days to learn more.

Subscribe for all the latest news
This field is for validation purposes and should be left unchanged.
Logo

Share This

Select your desired option below to share a direct link to this page.
Your friends or family will thank you later.