Is Your Business Prepared for a Recession?
Is Your Business Prepared for a Recession?
Prepare for a Recession with SalesStar's Recession Ready Resources
If you’re a business owner or CEO… are you recession ready?
A recession is officially declared after two quarters of negative growth, but negative growth in an economy can still mean positive growth in your sales. The word itself can often spark an uneasy feeling in your stomach, pointing to doom, gloom and struggles ahead, but it doesn’t have to. Whilst there are a few factors that can play a part in a recession, there are also many things that you can do to counteract the potentially negative impact on your business.
Take a step back and consider what actions you can take to benefit and take advantage of a tricky situation. Consider what you can do to improve your current sales plans, processes and strategy to ensure you’re making the most of the window of opportunity in front of you.
Prepare for a Recession with our
Recession Ready Video Series
Join SalesStar CEO Paul O’Donohue and Global Director of Learning Alex Chan for our RECESSION READY VIDEO SERIES.
These concise videos will take your through the 9 Step High Performance Pathway, applying it to selling in difficult economic conditions. SalesStar has helped clients around the world to not only survive the last two major economic downturns… but grow through them and increase market share.
Each episode includes a unique COMPLIMENTARY Sales Resource for you to download.
Is Your Business Prepared for a Recession? Complete our One Page Recession Ready Checklist
Our COMPLIMENTARY Recession Ready Checklist will take your current strategy and give you a score based on how prepared you are for economic challenges. Discover where there is room to grow by figuring out where you can strengthen your strategy.
How Do You Prepare for a Recession?
How Do You Prepare for a Recession?
Many business owners and leaders are asking themselves, how do I prepare for a recession? What can I do to give my business the best chance of success in difficult economic conditions and what has worked for other companies in the past?
The first thing to keep in mind is that recessions are very much a part of life. The economy is cyclical and despite all best efforts by policymakers, there will be periods of expansion and periods of contractions. Historically these have tended to be on a cycle of approximately seven years; however, the recent pandemic and economic stimulus efforts have perverted that trend.
So in preparing for a recession, start by acknowledging that if you’re going to be in business for any decent period of time; you’re going to have to face a recession sooner or later.
The next step is to decide how you want to face it. A well-celebrated quote on the matter puts it brilliantly:
“I’ve heard there’s going to be a recession… I’ve decided not to participate.”
This quote isn’t suggesting you dig your head in the sand… but that you adopt a proactive and positive mindset to not let a recession define your business. And to do that, your best move to prepare for a recession starts right now by taking this mindset and completing our complimentary Recession Ready Checklist. It only takes a few minutes, but will assist in evaluating your current situation.
The next step is to watch the Recession Ready Video Series; a series of complimentary videos, each only several minutes long. Continue reading below for more information.
How Do You Prepare for a Recession?
Many business owners and leaders are asking themselves, how do I prepare for a recession? What can I do to give my business the best chance of success in difficult economic conditions and what has worked for other companies in the past?
The first thing to keep in mind is that recessions are very much a part of life. The economy is cyclical and despite all best efforts by policymakers, there will be periods of expansion and periods of contractions. Historically these have tended to be on a cycle of approximately seven years; however, the recent pandemic and economic stimulus efforts have perverted that trend.
So in preparing for a recession, start by acknowledging that if you’re going to be in business for any decent period of time; you’re going to have to face a recession sooner or later.
The next step is to decide how you want to face it. A well-celebrated quote on the matter puts it brilliantly:
“I’ve heard there’s going to be a recession… I’ve decided not to participate.”
This quote isn’t suggesting you dig your head in the sand… but that you adopt a proactive and positive mindset to not let a recession define your business. And to do that, your best move to prepare for a recession starts right now by taking this mindset and completing our complimentary Recession Ready Checklist. It only takes a few minutes, but will assist in evaluating your current situation.
The next step is to watch the Recession Ready Video Series; a series of complimentary videos, each only several minutes long. Continue reading below for more information.
What Should a Business Do to Get Ready for a Recession?
What Should a Business Do to Get Ready for a Recession?
Our Recession Ready Video Series has been designed to assist business owners and leaders to get ready for a recession.
There are fifteen complimentary videos in the series, each several minutes long. SalesStar CEO Paul O’Donohue and Global Director of Learning Alex Chan cover:
1. Sales Analysis
2. Sales Plan
3. Sales Process
4. Systems & KPIs
5. Leadership & Management
6. Recruitment
7. Mindset
8. Skillset
9. Performance Coaching
10. Account Retention
11. Account Growth
12. Lead Generation
13. Financial Management
14. Supplier Relationships
15. Your Economic Engine
Each topic is discussed in the context of getting ready for a recession, sharing valuable insights and experiences. Over the last two decades, SalesStar has helped many companies around the world to not only survive recessions but prosper and grow through them.
What Should a Business Do to Get Ready for a Recession?
Our Recession Ready Video Series has been designed to assist business owners and leaders to get ready for a recession.
There are fifteen complimentary videos in the series, each several minutes long. SalesStar CEO Paul O’Donohue and Global Director of Learning Alex Chan cover:
1. Sales Analysis
2. Sales Plan
3. Sales Process
4. Systems & KPIs
5. Leadership & Management
6. Recruitment
7. Mindset
8. Skillset
9. Performance Coaching
10. Account Retention
11. Account Growth
12. Lead Generation
13. Financial Management
14. Supplier Relationships
15. Your Economic Engine
Each topic is discussed in the context of getting ready for a recession, sharing valuable insights and experiences. Over the last two decades, SalesStar has helped many companies around the world to not only survive recessions but prosper and grow through them.
What Impact will a Recession Have on My Business?
What Impact will a Recession Have on My Business?
Founded in 2004, we’ve spent years cracking the formula for a winning sales team and have been able to refine it to a science. It means we’re able to breakdown the sales process and plan where your growth is going to come from using proven methods.
We are a partner of Objective Management Group and offer a range of sales assessment tools so you can gain a deeper understanding into your team’s capabilities. This will allow you to implement a winning sales strategy and set realistic targets to keep your team accountable to your growth goals.
At SalesStar we offer so much more than a one off sales course can. Unlike traditional sales training, which delivers short term impact, we use coaching to truly embed the learnings and deliver sustainable long-term behavioural change.
Sales team management is a challenge and building a high performance team takes time and commitment. We have international experts located around the world with centuries of combined coaching experience. No matter where you are, if you’re ready to grow your people and take your business through its next phase of growth, we have a High Performance Coach ready to partner with you and make it happen.
What Impact will a Recession Have on My Business?
The best way to answer this question is to dissect the word “crisis.”
In Chinese, the word crisis is written using two symbols. One represents “danger” and the other “opportunity.”
So as a business owner/leader, it’s imperative that you apply this thinking to your business and any looming recession or economic difficulty. Yes, there is danger… but there is also opportunity.
There is the opportunity to:
- unify your team around a common struggle
- strengthen relationships with key partners
- expand market share
- recruit top talent
Remember, if you’re facing challenges, so too are your competitors and your partners. Capitalise on that by being better prepared and maintaining a proactive and positive mindset. Use a recession to build the foundations for generational growth.
Start your preparations by investing time in SalesStar’s complimentary Recession Ready resources. Our Recession Ready Checklist will help you evaluate your current situation and our Recession Ready Video Series will take you through fifteen key topics, sharing valuable insights, experiences and opportunities.
