5 Practical Ways To Recession-Proof Your Business

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Bloomberg Economics predicts a 53% chance that we will find ourselves in a recession this year. With this information in hand, it’s easy to feel powerless and scared. The year started out strong for and within a couple weeks, we’ve all found ourselves in unfamiliar waters. Here's what to do next.

"Get creative with the opportunities the online world offers you and keep an open mind,” says Gudjonsdottir.If you think that no one’s buying anything right now, think again. People are looking for support during economically challenging times, but they might not need the exact same product or service they would have bought under regular circumstances.

Can you turn an 8-week program into a week-long intensive? Can you relaunch a product with useful add-ons and extensions? Can you take in-person offers online and go virtual? Or maybe you can open the doors to a program that you’d usually only offer once a year?"The opportunities are endless and your best bet is to listen to what your audience asks for, then adjust previous or existing offers accordingly. That’s how you’ll create a win-win,” advises Gudjonsdottir.

 

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