“Success in a Rocky Economy”
episode #750 – July 24, 2022
HOST: Lorraine Ball
This is no time to bury your head in the sand. If you want your business to survive, you need to take action.
I know the economy is rocky. Yes, things have been bumpy for the last three years. But the truth is, this isn’t the first time it’s happened, and it will be the last. If you want your business to still be around when things finally settle down, here are a few things you should do.
- Use this time to clean up your processes. Get efficient. With tight labor markets and rising salary, stop wasting time and money on anything that is not productive.
- Ruthlessly review your marketing. Just because you’ve always done something does not mean you need to keep doing it. Getting rid of things that aren’t driving results makes room for new ideas.
- Fire unprofitable clients. I know this sounds crazy as the economy is cycling down. But hanging on to clients who aren’t a good fit will ultimately drag you down. They will prevent you from clarifying what it is you do and focusing on the kind of work you really want to do.
- Invest wisely. This is not a time to bury your head in the sand and stop spending money on marketing. You just need to spend well.
If you’re looking for resources that can help you review your marketing and start planning for the next quarter be sure to check out the DigitalToolbox.Club
about the marketing minute
Each week, host Lorraine Ball shares just a few words on a marketing topic. She boils down creative ideas, practical tips, and decades of real-world experience into a mini podcast which is always less than two minutes.
Look for these mini bits of marketing inspiration every Sunday. Then come back and enjoy the longer interviews every Thursday.