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Coaching through the Recession

Written by: Dave Ferguson

Article Overview: Tips to get businesses through the recession.

Coaching through the Recession

Coaching through a Recession

If you turn on the TV or pick up a newspaper, it's hard to go without hearing or reading about the pending recession, the recession we are in, or what will happen if we go into a recession. A few days ago, another coach and I were trying to remember where we were and what we were doing when we went through the last recession. Funny thing; neither of us could remember. So, either we have really bad memories (not usually) or we were just business as usual through the recessions we've experienced. We both agreed the latter was definitely the case. As small business owners ourselves, we read the same headlines and hear the same alerts on TV that you do. But our experience has shown us that small business owners that believe in themselves and know how to take risk survive recessions and economic downturns. This made me recall two great quotes from one of my favorite inspirational providers, Zig Ziglar. He said, "Your business is never really good or bad "out there." Your business is either good or bad right between your own two ears." & "There's not a lot you can do about the national economy, but there is a lot you can do about your personal economy."



As business coaches, we are engaged in our clients operations and have throughout the past few months provided them with our tips and perceived opportunities to actually grow during recessionary financial times. Yes, a business coach works with you on the timing of when to push and when to rest, when to expand your company and when to contract it, when to trust intuition and when to trust the numbers, when to run a test and when to just go for it. In essence, we help you get in touch with your internal clock, leading to smarter decisions, more choices and the ability to enter the all-to-brief windows of opportunity. With the right information and the right attitude you can actually come out of a recession better than you went in.

So just how do you do that? Here are just a few tips:

1. Don't overreact and start letting employees go. Cut only the fat. Hire slow during a recession and terminate the unproductive employees fast.
2. Don't cut back on marketing. Spend more on marketing; but force your team to quantify your ROI (Return on Investment). Use your coach for research and techniques.
3. Don't waste marketing money on branding ads. Use your coach to help you create a unique selling proposition (USP) that makes you stand out from the crowd.
4. Make your salespeople cold call new prospects. It is the cheapest and most direct way to find buying prospects.
5. Bundle your services. Start thinking like the phone and cable companies. Give your prospects multiple options to purchase from you.
6. Invest in your sales team and help them sell more. Don't be part of the estimated 15% of companies that don't invest in organized sales training. Coach Mark and I have really been busy doing quite a bit of sales training lately. Call us, we can help.

We believe that business owners look for opportunities rather than waiting for them to happen. Many have already faced tough times and by their very nature, they are survivors. We hope the timing of us throwing you this life vest of tips continues to keep you optimistic and always looking for a "silver lining". Keep your thinking right and your business will be right.

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Article Tags: amp, bad memories, business coach, business coaches, choices, decisions, ears, economic downturns, few days, financial times, funny thing, internal clock, intuition, national economy, nbsp, personal economy, recession, recessions, small business owners, zig ziglar



Related Forum Posts
Re: need pricing help please - here's my opinion that was derived from the person I heard it from (Russell Brunson) I view internet Marketing products as a Ladder. At the bottom of the Ladder is ebooks and at the top is One on One Coaching. so the ladder would look like this starting from the Top ($$$) to Bottom($) One-to-One Coaching ($$$$$$) Workshops ($$$$$) Teleseminars ($$$$) Video($$$) Audio ($$) ebooks ($) I agree with this methodology mainly because of the convenience factor and value from the customers point of view.
Re: need pricing help please - [quote="jvprosperity":t4htv1h6]here's my opinion that was derived from the person I heard it from (Russell Brunson) I view internet Marketing products as a Ladder. At the bottom of the Ladder is ebooks and at the top is One on One Coaching. so the ladder would look like this starting from the Top ($$$) to Bottom($) One-to-One Coaching ($$$$$$) Workshops ($$$$$) Teleseminars ($$$$) Video($$$) Audio ($$) ebooks ($) I agree with this methodology mainly because of the convenience factor and value from the customers point of view.[/quote:t4htv1h6] I also agree with this methodology, but sometimes some ebooks sell more in 2 digits. My 26 pages report sell for $9.77
Re: Business Women Peer Mentoring Spotlight - That is a great idea, David. This is what I had in mind for the Women's section, but it makes sense to post in on the main site. Of course, I'm waiting for some women to step up to the plate and share how they could use some support on taking the next step with their business! If you are a Business Woman reading this, I invite you to consider that this is not displaying weakness in any form. Peer mentoring and Coaching is incredibly valuable. You get to bounce your ideas off others, hear perspectives from outside your own box, and feel the power of others cheering you on. To me, it's wisdom to use all of our available resources to move towards business success. That's why I have my own Coach and my own Mentor Coaching Group. I also offer that to my clients. These are services one usually has to pay for and you could enjoy some of it free right here! So who wants to start? Can you tell I'm excited about the possibilities for you even before you begin? Warmly, Tami
Re: Business Women Peer Mentoring Spotlight - Hi Everyone, Gosh, I REALLY appreciate your concrete feedback. This was far more than I expected and I'm glad you said what you thought straight out. Each of you have shared something of value and I want to take some more time to think and really go over what each of you have said. However, I can see there are some things I need to change right away. What an interesting point about a NEW program perhaps making people think they are guinea pigs! This is NOT what I want to convey! It's funny how we can see some things so clearly in others while not always seeing it for ourselves! I must admit there are a few things I've been meaning to change (like my bio which is very outdated). Obviously, these things need to be higher on my priority list. You caught me like the plumber who puts his clients first and doesn't get around to fixing his own tap! As far as my target market, I do feel quite strongly about working with Women Leaders and doing Leadership Coaching with them. It's non-negotiable in my books. In my Executive Coaching training, the terms "Leaders" and "Executives" are interchangable. To me, an Executive is a Leader and so is the Business Woman or Entrepreneur who is CEO of her own business. I love working with decision makers! What I did learn is that I need to avoid opening up the Leadership term beyond what I described above. I'm also wondering if there is a misunderstanding with the general public as to what Leadership Coaching really is. Leadership Coaching is all about developing your leadership skills, both as a people manager and in more effectively running and growing the business. There is ALWAYS room for growth in some way. As well, sometimes, we just need a sounding board to clarify what our next BEST step is. In fact, if a woman thinks she has nothing to work on, then we aren't a good Client/Coach fit anyway. How can she grow if she doesn't see the value of expressing ALL of the great ability within her? How can her company grow if she doesn't see the value of strategic planning for the next best level? Thanks again to you all! I will go back to my website and really question whether I am conveying the right message. I got more than I bargained for in this Spotlight... you generously offered way more than I was asking. I think we could be on to something great for the Forum. Now it's time to let someone else have the spotlight. It would be great if everyone took a turn! In gratitude, Tami
What are you doing to grow your business Ladies? - Hi Ladies, I thought it might be great for us women to share what we are doing lately to develop our business(es). I have now signed a lease on a new commercial space where my husband and I plan to open a Sport's Consignment and Cappuccino Bar. We're an active tourist destination and we also want to give back to our local community by offering discounted quality equipment. I'm doing lots of research and planning right now. For my Coaching Business, I have signed up for a new coaching mentorship program by one of USA's top Executive Coach trainers, Drayton Boylston. He's sure to challenge me, offer continued professional development and keep me on track as I grow my Coaching business. I'm quite excited about the opportunity since you have to be invited to even participate in this group. What are you doing lately or what are you planning in order to develop your business? I'm hoping we can all encourage each other to keep our businesses growing. Warm regards, Tami


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