Recession Proof Business Strategies

Today I am breaking down OFFENSE vs. DEFENSE. 

We all need to be doing both to recession proof our businesses and ourselves. 

First set up a foundation. 

1. Setup financials so you’re not worried about it (I’m 75% cash, 25% equities). Cut bills.
2. Keep routine and structure. (Pushups, keep health/fitness)
3. Create a mood board. Check in throughout the day.
4. Stop blaming others.

Plan A: “30-5” Plan

• Revenue drops 30%, keep net income at 5%
• Triggered immediately 

Plan B: “30-15” (Trigger and Action)

Revenue drops 30%, net income by 15%. 

Look for leading indicators on when to pull back.

Trigger and Actions: Look at these 4 every single day. 

• Conversion Rate
• Refund Rate
• Email signups (lead rate)
• Rolling 7 day revenue window

Go on OFFENSE. How do we gain market share and end bigger than we were? 

• SoftwareFund.org 
• Remote Series
• New email templates 
• More blog content (1-2 posts a week to 9) 
• More ad spend (CPC’s are cheaper than ever)
• Affiliates (if you have a customer base… you have sales people)
• Help 1 person (do good, no matter what) 
• Cross promote with other people
• Offer to sell customers something new
• Offer gift cards (Grab da cash = sustain and gain)

Cover bases with DEFENSE. 

• 20 months of capital for business, 12 months personal (at least)
• Pause new hires
• Freeze bonuses 
• Look at every item on the credit card bill (review, reduce, and negotiate)
• Clear limits on ROI
• Ask all non-essential contractors to take payouts or pause work

If you can win now (make a new job or grow current business), then you’ll win now and forever. 

Where do you want to be when this ends? #BackToWork. #Winners. 

 

Leave a comment with how YOU are going on OFFENSE and DEFENSE.