When there is talk of a recession, people get scared. And businesses get scared.
When people and businesses get scared, they change their behaviour.
So, the results you get are not the same.
In fact, they are almost certainly going to be worse.
It becomes a vicious circle as the fearful behaviour is repeated and repeated.
If you relate it to my expertise helping professionals get paid their true worth, here is some imaginary dialogue.
Oh shit, I can’t possibly charge that.
you need to consider that it may be time to increase them.
It’s a lot to ask them to pay.
What if they won’t pay it?
After all, there’s a recession on.
People will expect to get a lower price.
Joe Bloggs down the road will do it cheaper.
If I don’t reduce my fees, I’ll lose the business and then what?
I’ll lose my job, I’ll lose my business, I’ll lose my home!
On and on the diatribe in the mind will go ad nauseum, until you are in such an awful state that you are sweating like crazy.
Now you’ll do absolutely anything to feel better.
Discount, sure why not? How much would you like me to knock off?
£100? £200? £500? £1,000?
No worries, I’ll do it for free!
Whatever you say Mr or Mrs Client.
After all, the client has the power, doesn’t she?
Only if YOU let them!
Here are 5 things to do to recession-proof your business:
💜Switch the news off. Stop eating it morning, noon, and night. What you focus on is what expands.
So, if you focus on recession, you will act upon it and create exactly what you don’t want!
💜Speak positively to yourself. Talk yourself up. Tell yourself why you are worth the money you charge.
💜Stick to your guns when clients try to push your fees down. Focus on the value you are creating for them.
💜Be very clear on who your clients are and who they are not. Continue to be discerning. Don’t just grab any work that comes along, otherwise you will become a busy fool.
💜Continue to invest in the business and invest in yourself.
If you provide an excellent service and follow the above steps, you will pull through or better still thrive.
If you focus on the recession, you will not.
Whether you like it or not, this is impacting on your people.
What are you going to do to make sure that your people are recession-proof?
Speak to me if you’d like to maximise your fees and stay sane!
I’m Vanessa Ugatti, author of Amazon Best Seller, True Worth: How to Charge What You’re Worth and Get It. I help accountants, lawyers and consultants to generate more income, have more time and create more freedom without having to get more clients, do more work or compromise value or values.
Ready to talk?
For an initial no-obligation chat, call 00-44-1202-743961 or to order your complimentary copy of Amazon Best Seller click here