How to THRIVE during a recession!

I want you to take a moment to really enjoy the fact that you are SO DANG POWERFUL!

Yes, I know you feel like crap when you watch the news and you feel like you have NO POWER but you are even more powerful than the news and all of the horrible things that happen on the news! You are 100% in complete control of what you think, how you feel, and what happens for you in every moment. You can THRIVE during a recession! 

I want you to prove to yourself how powerful you are. You are so much more powerful than you give yourself credit for. You are so much more IN CONTROL OF YOUR LIFE than you know.  You have 100% control over what you think, and therefore, how you feel and of course: what happens in your life. So let’s take a minute. Just one minute, to prove this, to know this, to change everything for yourself.* 

Do this now:

• Close your eyes (read the next steps first or have someone talk you through it).
• Think about the last time you felt grateful, very, very grateful. So grateful. 
• Put your hand on your heart and continue to really FEEL that moment. Picture that moment and let yourself feel it as though you are really back there in that amazing moment. 
• Open your eyes.

How do you feel? You feel GRATEFUL! Happy! Joyful even! AND YOU CAN DO THAT EXERCISE ANYTIME!!! You just proved to yourself how good you can feel.  INSTANTLY! So from now on you cannot go back! You cannot sit in negativity, doom and gloom, dread, or any other negative feeling because YOU KNOW THIS: you choose your thoughts! Read my recent blog on the importance of shifting your mindset here.

Your feelings determine EVERYTHING. Write this somewhere you will see it often! If you can commit to doing this for 30 days – being mindful of how you feel, and if it’s not good, changing it – you will see your world begin to magically change. I promise you this. I have seen so many people do it, including severely depressed and broken people – who are now some of the happiest and most successful people I know. When you feel GOOD you can be a creative problem solver! When you feel GOOD you attract more great opportunities! When you feel GOOD magical things happen. This is what will help you thrive and keep growing your business during a recession!

If you didn’t do the exercise you’re only cheating yourself and you might as well stop reading, because you’re not going to benefit from reading this if you won’t do that simple exercise. You need to SHOW your mind and body how much control you have over it! Simply reading words on a page doesn’t change anything. DOING and then KNOWING does. This exercise was a great example of showing yourself that MINDSET is everything. Don’t believe me? Just ask Viktor Frankl! 

Shifting your mindset, and engaging in personal and professional development is a must.

Know that 98% of the world is not doing this, so doing this can be a competitive advantage! Read this article from Forbes about getting the most out of professional development for you business! BE THE 2%!!!! Others aren’t doing this, there’s your opportunity to exploit!! Double down on what you’ve learned and be the BEST leader you can be. Everyday. No one else is doing all of this, least likely of all – your competitors. It’s survival of the fittest out there and YOU ARE THE FITTEST when you follow these steps!

To lead yourself and your team, and to thrive during a recession you not only need to shift your mindset but also dig into these strategies to lead WELL and even GROW! 

1. Remember that questions are your superpower!

And good questions get great answers and results. So when you’re talking to yourself, your spouse, your team, your clients, anyone, ask great questions! Some great questions to ask:

• What is GREAT about this?
• What is the opportunity here?
• How can we make this better?
• What CAN we do?

That last one is my favourite. So many times we think we’re stuck, or we experience negative things and we ask stupid questions which make us feel even worse. Stupid question examples include “why would you do that?” and “what’s wrong with me?” Stick with your superpower questions and you will begin getting better answers AND outcomes immediately! Read my blog on getting better results by asking good questions here!

2. Review & dig into the fundamentals to keep moving forward!

They will never let you down! There is so much room for improvement here! When you’re seeking to thrive during a recession, I want you to double down on all of your fundamental business tactics, work on your fundamentals like your life depends on it (it actually does, if you depend on your business for income). I know you know what to do. If you’ve been following me for any length of time you can easily find the information you need to make your business amazing! 

I’m not going to dive too deeply into the three pillars, but I want to remind you of:

• Inspiring, Compelling and Strategic Leadership
• Financial Mastery
• Highly Effective Marketing and Sales

My social media and website are FULL of tips and strategies that will have your business systemized and more profitable in no time. You can also check out our TMH VIP Mastermind Group which will provide you with HUGE value for a low cost every month! You know what the annual projects are. You know what the monthly follow up processes are. You know that in order to be a great leader who gets great results you need to work on YOURSELF. 

Some of the key fundamentals that will give you immediate positive results are:  

• Strategic plan: update your SWOT and USP, and focus on OPPORTUNITIES! If you keep asking yourself the right questions you WILL find the opportunities instead of the threats, I promise! Then, ensure your monthly or quarterly strategy plan review process is in place and that it’s in calendars and on job descriptions. Also, make sure that you put into action these 5 Successful Steps for Change with your team!! Pro Tip: use these 5 Successful Steps for Change ALL THE TIME. Business is changing all the time, and most change initiatives fail, so use your tools!
• Review your annual marketing plan and update your USP if it’s changed from your strategic plan review! Then make sure you’re implementing the monthly marketing report, and really digging into:
  • What IS working? Systemize it!
  • What isn’t working? Stop it!

3. Innovate and be flexible to continue to THRIVE during a recession! 

• Make sure you have your mindset right. I get this right every morning just like I brush my teeth! You are a leader. You MUST have a great mindset!! Your team needs this and your business needs this!
• When you have the right mindset (a GOOD FEELING one) you’re way more likely to be able to come up with ideas and innovation. Great mindset = the best brainstorming with others! Capitalize on your amazing new mindset and ask great questions of your team! Innovation and incredible new ideas and profit increases will abound! Innovation is vital to your ability to thrive during a recession!

4. Lead your leaders to continue to grow!

Share all of the best things you learn with them! Remember, they may not have a successful mindset coach or the personal development resources like you do! And in many cases they are the most often approached, and spend way more time with their boots-on-the-ground! Your leaders need to be JUST as great as you are or better!!!! If you want to be successful you NEED to remember, leaders grow others leaders! ESPECIALLY during a recession! You can’t have your leaders walking around complaining about inflation when they should be INSPIRING the team towards your vision, mission, culture statements and goals! This is not optional! Make sure they are very familiar (they should know them word for word) with your mission, vision and culture statements and that they are walking, talking examples of each!

5. Remember to look at things as a customer does…

…not as yourself. Your website is an easy example. When you look at your site, do you assess it for ease of use, attractiveness to a potential customer, or whether or not it answers your ideal customers’ burning questions? OR, do you think, “I love my website because it’s my favourite colour!” and “I look dang good in this photo.” This kind of thinking won’t serve you well or help you thrive during a recession or any other time!

6. Remember that you need to RETAIN customers…

…and have them buy again! Don’t just think about the first time buyer when you’re looking at your website, or your processes. So many people pour marketing money down the drain by focusing ONLY on the new customer, and end up losing their current customers in the process. Even during a recession, your customers MUST be taken care of. Think about how expensive it is to only BUY new customers. Imagine if you never had to get a new client again! How different would your business be? How much MONEY could you save? How much money would you MAKE? Selling more to your existing customers is the fastest, most effective, and efficient way to bring in more revenue. Make sure you have plans for your customers’ path and continuously provide what they need so they will stay. What’s your focus? New or existing customers?

7. Bonus: book recommendation to help you THRIVE during a recession!

I recently read (and shared) a book called, “Pulling Profits out of a Hat” by Brad Sugars and Monte Wyatt. This book will help you squeeze out even more profit and ensure that you thrive during a recession. I highly recommend you listen to it or read it asap and share it with your leaders (the parts that they can affect positive change with.) Check it out here.  

*exercise adapted from Tony Robbins’ inspirational exercise at Business Mastery in Amsterdam.