Every headline today: It’s been a tough couple of years – and it’s about to get tougher! Covid variant 18.104.22.168! Layoffs! The “Great Resignation”! War! Inflation! Interest rates rising! Not enough? Crypto has fallen, the stock market is plummeting and layoffs are hitting big tech – all signaling a BIG recession.
As Jocko would say, “Good.”
Candidly, 12 or 13 years ago I would have been very anxious. Not today. This little “red ant” has been steadily working on stockpiling for winter and is looking forward to a little recession to choke out competition and make it easier for me to buy and get stuff done. Especially getting a seat at a few of my favorite restaurants without having to plan 4 weeks out.
The advice I’ve been seeing on how to prepare for this “new” economy is gloriously stupid and completely worthless. One article from a prominent organization I shall not name said, “Be more efficient and do more with less.” Thank you, Captain Obvious. Another: “Listen to your customers!” as if all of the sudden that’s the key. Of course, Al Gore’s invention is chock-full of a bunch of worthless advice.
Nobody likes the REAL answer to a recession problem: go back in time 10 years and start building your business properly, with higher-quality, better-paying clients, services tied to sticky, recurring revenue, correct margins, good marketing and sales systems, and sufficient profits to pay off debt. Yes, that too is as worthless as an ashtray on a motorcycle if you’ve failed to do those things. Looking back on what you should have done is only productive if you use it as motivation to correct bad behaviors TODAY.
And that’s the key to overcoming a possible recession: What are you doing to focus on and get done TODAY? This week? This month?
Will you attack marketing, sales, profits and building business strength with hair-on-fire intensity, or will it continue to get stalled, delayed, ignored? Most won’t change a single habit if the recession smacks them upside the head. They’ll grumble about it and sit in a general malaise about their situation, but they won’t ACT. They’ll just pile up the debt or learn to live with less, not DO more with less.
At a recent conference, I bumped into a few members who complained that they weren’t getting the results they wanted with their marketing. When I asked what they were doing specifically that wasn’t working, their story folded like a Dollar General lawn chair. Nothing. “I’m BUSY,” they say.
It’s not about being busy but being PRODUCTIVE. Everyone’s busy. Just ask ’em. Nobody is walking around with free time on their hands. But what are you busy doing? Sleeping in and going on vacation? Administrative work? Working out of your in-box? Productivity is not just getting stuff done, but getting the RIGHT things done. Most people who are overweight are also malnourished. Given the amount of food they obviously eat, how can that be? Because they’re stuffing themselves with low-nutrient food. They’re eating bulk, not quality. Same goes with productivity – you can stuff your day with low-quality, low-money work and find yourself “malnourished” without progress or profit.
Want help optimizing your marketing plan now to minimize a potential recession’s impact on you and your business?