SOAR TO SUCCESS / Business Acceleration Strategies 10 Steps to Recession Proof Your Business 1. Focus on customer relationships and improve customer satisfaction and customer experience to ensure customer retention. 2. Assess and review your business plan every 30 days and adjust as needed 3. Build cash reserves 4. Buydown expensive and variable debt 5. Avoid Panic! Check your emotions at the door and make decisions based on data 6. Assess your sales team- do they have the selling skills needed when sales get tougher to close? Do you have 20% of your sales team that are not delivering a return on investment because they should not be in a sales role- restructure and upskill 7. Build your access to credit now before you need it 8. Market strategically and refine your messaging so it resonates with your ideal customers and buyer personas 9. Create an internal cross-function team of leaders that become the nerve center, and they are empowered to weather the storm, they have a plan based on various trigger events should they occur 10. Invest in training and coaching to help your sales team improve their sales skills should business slow down and sales are more difficult In 2008 my team saw a significant revenue decrease when the market dropped. We implemented the above steps, and our sales and profits grew stronger than pre-recession averages, and yours can too. If you need help determining if your team has the right skills to sell in a down economy or want to conduct voice of customer research to understand your current customer satisfaction and how to improve your customer experience, please contact me.
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