The Successful Mind Podcast Understanding the Recession and It’s Impact on Buyer Psychology
My CEO, Steph Tuss, is a member of a group of full high-end business owners. Recently, the conversation in those circles has been around the recession and whether anyone has seen changes in buying patterns or habits. Several business owners have seen massive changes—so they’re retooling their programs and repricing things to get their business moving in the right direction.
The truth is, recessions are cyclical. They’re part of an economic cycle in which the economy resets itself. Since the Great Depression, there have been 14 recessions. More millionaires were made during the Great Depression than any other time before that—not because they took advantage of people, but because they had legitimate businesses that brought value to the marketplace.
So, this isn’t the first recession we’ve been in. My company has seen these patterns before. It’s not that people don’t have money to spend—it’s they’re holding onto their money, due to uncertainty.
In this episode, we discuss:
- Why a recession is nothing to be afraid of; but it does impact your buyer’s decision making
- How there’s a huge benefit to businesses who understand that recessions are cyclical and they affect a buyer’s psychology
Why Congress needs 2 million jobs to disappear, because there’s too much money in the marketplace, due to inflation
- How the government and media consistently manipulate the markets—and how this affects business owners who are ignorant to what’s going on
- The 2 groups of people most affected by a recession
- How my company responded when COVID hit—and how 2020 was our best year in business, because we helped more people than ever
- Why you can’t have a problem without a solution, due to the law of polarity
A recession is a great time to build a business, especially if you can solve specific problems for people. It allows you to create opportunities to provide more service to the marketplace. You just have to look for those opportunities.
If your buyers have stopped buying, then you need to look at how you can do things differently in your business.
Links & Additional Resources
Navigating Economic Turbulence: 10 Strategies For Business Success In A Downturn
Three Tips For Strategic Planning In An Economic Downturn
How To Navigate Uncertainty During a Major Crisis
The Recession Cycle & How to Navigate the Negative
Are you a business owner that’s been wondering if you’re about to be hit by the recession?
Are you unable to shake that feeling that a recession could really derail any progress you or your business has made over the course of the past few years?
It can be tough to keep your mindset in the right place, especially in a world loaded with uncertainty.
I’m here to tell you there’s no need to wait for the other shoe to drop. It’s time to make the rest of the year, the best of the year.
I have an incredible gift for finding better ways of helping leaders like you make a huge impact in not only your own life, but the lives of the clients you work with.
That is why I’ve decided to host a FREE 4-part series called:
HOW TO WIN BIG DURING A RECESSION
During this FREE 4-part series I plan to cover how to control your thinking, inspire your team, and dominate your market, no matter what that market may be. This will allow you to face any changes the recession may bring head-on, proactively instead of reactively.
Make plans to join me June 12th through June 15th and take the steps to recession-proof your mindset and win big in the months and years ahead.
For more information on how you can be a part of this FREE 4-part series go to lifeisnowinc.com/win
It’s time to Control Your Thinking, Inspire Your Team, and Dominate Your Market.
Imagine if you were 100% accountable to yourself every single day, nonstop, no excuses.
How different would your life be? How different would your business be?
That’s exactly what I’ll be taking you through in The Elite Mind 90-Day Experience.
I created The Elite Mind 90-Day Experience to help you develop an unshakeable sense of confidence in yourself.
For more information on how you can join me in up-leveling your life and business go to lifeisnowinc.com/elite.
Part of building an elite mindset is developing the habit and practice of consistently doing things that lead you in the right direction… never taking your foot off the gas, and no longer getting in your own way.
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