How to recession-proof your business
during a cost of living crisis
The five most important factors in your business to focus on during a recession
How to future-proof your brand and avoid making rash decisions in panic-mode
The major mindset shifts that you should be making if you're worried about the cost of living crisis
A challenging personal question was submitted this week within The Creative Business Clinic
In this episode of A Cup of Something Lovely, I’m going to be tackling a pretty loaded topic and one that I know is on the mind of so many business owners right now - here in the UK where I’m based, but in various other economies and countries.
The cost of living is on the rise and this fuels a pretty challenging cocktail of challenges for business owners - so in this episode, I’m going to talk through how you can protect your assets, revenue streams and brand perception. I’m sharing my best tips on recession-proofing your business.
This episode is full of business advice that I would highly endorse at any time in the management of your brand - but even more so during a recession or cost of living crisis like we're all finding ourselves in. I've included some recent research studies too, to give you some further insight on the current state of play across a range of industries.
This includes the following key areas:
- Handling cash flow and invoice management, and retaining healthy money management
- Generating recurring revenue streams to maximise the financial health of your brand
- Prioritisation of your existing client base and ensuring you're delivering top-notch customer service
- Accommodating current buyer psychology in a difficult financial climate
- Making shifts in your mindset and perception of the crisis, to ensure you can make logical decisions
I really hope you find this one useful and I'd love for you to pop over and connect with me on Instagram if you have any follow-up questions.
I really hope you've enjoyed this episode!
Here's a selection of useful links and any resources mentioned in the podcast:
Our main website - to discover our latest offerings + support options: www.ebbflowandgrow.com
Our socials - to connect with Laura + to submit your CBC questions: www.instagram.com/ebbflowandgrow
Blossom, our supportive membership space + community: www.ebbflowandgrow.com/blossom-membership-space
To ensure A Cup of Something Lovely is as accessible as possible, we're also pleased to provide the full episode transcript. This provides you with a full written version of this episode. You can access it by hitting this button.
"Small business, independent business, making an impact and achieving the life you really want. It’s as possible now as it was five or ten years ago. Society and this beautiful planet we call home is an ever developing and fluid environment. There will always be reasons as to why you can’t do something. For example, pandemic business start ups - looking at you, my fellow powerhouses especially. But if COVID can’t stop us, let’s not allow the cost of living to do it either. We’ve got this."
I'm Laura - and it's lovely to meet you.
I'm a Creative Business Coach - I've been building my business since the end of 2019 and this year, we've successfully and soulfully scaled to six figures.
Now, my journey hasn't been linear. A toxic experience in corporate, redundancy during the COVID pandemic and 1.5 years running my business as a digital nomad on the road.
I'm here to support you transform your life and business - from corporate and conventional, to connected and creative - just like I did.
A Cup of Something Lovely brings together my adventures and experiences - and every episode is designed to inspire and encourage.
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