Today on the podcast we are talking about how to “recession-proof” your business in 2023.
I’m sharing the 10 KEY ACTIONS you need to have in place NOW to create a sustainable business that can support you through any recession or economic downturn…
While remaining positive, productive, AND profitable!
The truth is you want to create your business to weather storms.
Life is not static.
Your business should be a response to life and built so nothing can break it.
1) SET THE ENERGY – talk of a recession creates a ton of fear and contraction. Your purpose doesn’t follow market cycles. In life, things are always ebbing and flowing. When you notice thoughts of doubt or wanting to shrink, hide, or quit… replace them with thoughts that create the vibe and energy you want to embody instead: “my work is highly valuable and always needed,” “I am relevant, I am resilient. I am committed.”
2) SEE THE OPPORTUNITIES – There is no better time in the history of the planet to be a female entrepreneur. In fact, many of the world’s most successful entrepreneurs create their success in the face of adversity. Henry Ford, Rockefeller, etc. The key here is you need to look for the opportunities and how you can use this time to adapt and THRIVE.
3) CULTIVATE FLEXIBILITY – The best part of being an aligned small business is that you can read your market, engage with your community, and adapt accordingly. There is no better time to create or grow an online business because unlike a “steady job” that might make you obsolete, you can create your online business to be nimble – you can almost instantly shift marketing or products to address what is needed now. HOT TIP: in times of economic struggle people focus inward – on their health, family, relationships, finances, spirituality, mental health, etc. – so a recession is an ideal setting for holistic businesses to up their game and get visible with how they can help with the things people care about most.
4) BE RELEVANT – ask yourself (from a place of trust and love, not self judgment) “why do people need you? Your services? Why now more than ever? How will this work benefit them and their life, especially right now? When you are communicating what you do, speak to THESE bigger benefits. People don’t pay for optional. They pay for solutions.
5) CONSIDER CREATING A LOW COST OFFER – with a lower bar for entry. $47-$497 (depending on your industry) “intro offers” or “mini offers” that solve a pressing problem for your clients or helps your clients overcome the financial objections and fears in their way so that they can take action and get results. HOT TIP: know that there will ALWAYS be people who are investing and there will always be people with money who are willing to spend it. Make sure you are creating these low-cost offers as an easy way for people to engage with our work and keep going, rather than because you are projecting your financial scarcity beliefs on your people.
6) CULTIVATE REAL RELATIONSHIPS – we cover this extensively in The Aligned Female Entrepreneur, but the best way to recession proof your business is to be indispensable to your people. Serve them powerfully, be really good at what you do and they will cut spending in other areas of life, but not with you.
7) MAKE SURE YOUR OFFER GETS PEOPLE RESULTS – in The Aligned Female Entrepreneur I walk you through exactly how to know WHICH offer to create, how to position it, market it, sell it, and get people incredible results using it. If you have been “dabbling” with working with a few people here and there, or ruminating on a course or program you want to create but haven’t done it… NOW is the time. The service-based practitioners who will make it through the recession are the ones who are creating VALUE for their people, stepping into their leadership and offering their support and skills right now, not the people just using their business as an expensive hobby that is all about them.
8) DO THE INNER WORK – Recessions AMPLIFY our fears, they don’t CREATE them. For example, if you were already fearful about your business being financially successful, or that you were good enough at what you do, or that people might not want or need what you have to give – the recession will just amplify this for you… SO THAT you can address it and heal it and step more fully into your soul-centered work.
9) “GROWTH” DOESN’T ALWAYS LOOK THE SAME – at the end of the day, if you are committed to your own spiritual practice, being of service, learning constantly, and doing good work in the world, your business will ALWAYS be growing. Sometimes that will look like outward growth, huge profits and tons of clients. At other times, it might look like shoring up your business foundation, deepening your skillset, and minimizing expenses. All growth is good growth.
10) HOLD THE VISION – align your energy with being unf*ckwithable. Trust in your higher calling, of God, Source, the Divine, and your place in the world and your work you are here to do on the planet. F*ck fear and don’t buy into the collective hype around the recession. Be the exception. Show up when others won’t. DO the things and take the actions and align your business for profitability in the current climate – AND leave room for magic and grace. You WILL figure it out. You WILL do what it takes. You will weather the storm.
Now go out and act like it 🙂
As always, I would love to hear what you think after listening to today’s episode!
Comment below or send me a DM on Instagram and let me know what you are taking from today’s episode and which action you are committed to taking this week!
PS – THE DOORS FOR THE ALIGNED FEMALE ENTREPRENEUR ARE OPEN! Do you want instant access to The Aligned Profit Method (the step-by-step system my clients use to scale to six-figures in their soul-centered businesses)? Want ME as your coach each week to give you personalized guidance and cheer you on? Join us.