Looming Recession?
- Posted by Sue
- On 10th June 2022
Is there a recession on the way ❓
If so when will the 💩 hit the fan❓
For those of us who have been around a while, we’ve been through tough times of course we have…
Unfortunately, not everyone will come through 😌 which will result in heartache for not just the business owner but for his/her team and his/suppliers 💔
Recession or Not there are tough times ahead for each and every one of us, which is why today I’m going to share with you a handful of tips things that you can implement into your business NOW!
Market the hell out of your business… When your competition goes out of business make sure you are at the front of people’s minds so you there ready willing and able to support new customers…
Make sure your accounts are up to date, so your cashflow is current and accurate… This shouldn’t be a difficult one because should always be up to date… You can’t run your business on your bank balance you must know what’s due to go into or out of your bank at all times… If you don’t have this basic information how can you make an informed decision❓
Know your margins… all of your margins… Ensure you and your team are selling the higher-margin products and services… If need be put your prices up😲now that’s a difficult one in difficult times but if you are going to survive & dare I say thrive you have to be profitable… There are many ways to raise the profit in your business without spending money. In fact on Wednesday (15th June) I’m hosting a 75-minute workshop which will show you step by step exactly how you can drive more revenue and profit in your business FAST you can secure your spot here… https://www.eventbrite.com/e/339802567627
Build strategic partnerships… Relationships with others who don’t offer your product/service but do business with your ideal customer… Referrals will always be the strongest way to attract new customers always have been…
Have clear terms and conditions, have they been reviewed are they up to date❓ Are you taking deposits and staged payments❓ Are you using credit checks❓ If things go wrong get help to recover bad debts…
Don’t underestimate the value your business brings to the world… The percentage of small businesses trading in late February 2022 was 94%, which is the highest percentage reported since comparable estimates began in June 2020… You and your business make a difference… You deserve to be successful…
How can I support you during these times to ensure You and Your business not only survive but thrive❓
I’m here to help all you need to do is book yourself a 15-minute call with me here’s the link to my diary https://calendly.com/susangallagher/15-minute-call
I look forward to talking to you…
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