If you have been paying attention to the headlines lately you’ve been seeing “Are We Heading Into a Recession?” all over the place. People way smarter than us are debating this potential economic reality. If we are going into a recession, it’s important to be ready for it. As a business owner or a marketing manager, when we hear the term RECESSION, it’s natural to think of tightening budgets, halting spending and preparing for the worst. I’m here to encourage you to resist these temptations and in this blog, I’ll explain why.
First, let’s start by identifying some of the signs of a recession:
Recession to Rich
My goal is to give you the confidence to keep doing what you’re doing, even in times of recession. As we know, in business - consistency is key. We need to fight the urge to pull back our efforts and stay on track. Here’s why:
As promised, here are a few examples of companies that took advantage of a recession and marketed themselves above their competitors.
The one thing I’d like you to take away from this is - THIS IS YOUR OPPORTUNITY TO STRIKE. Understand that weak competitors are vulnerable competitors. While we are all being dragged into deep waters, the most resilient of us will come out on top! Recessions are a war of attrition and strategy. It’s’ a time to go all in and force the competition to fold. Is that enough symbolism for you???
Let’s end with this quote from some legendary business minds.
“A recession is very bad for publicly traded companies, but it's the best time for startups. When you have massive layoffs, there's more competition for available jobs, which means that an entrepreneur can hire freelancers at a lower cost.”
“In times of recession there are massive opportunities and fortunes to be made so for new up and coming entrepreneurs, this is the time to go and start a business.”
I thought of a quote of my own…
“Cutting your marketing budget is like holding your cell phone up to your butt and trying to have a conversation - it makes zero sense.”
That’s all I got for now. Please share this blog you donkeys, and I look forward to chatting soon.
Cliff Skelliter aka Cliffnotes