Firing The Man

Business Strategies for a Recession or Slow Season

Jun 27, 2022

32:55

Even with the impending recession or slow season, your e-commerce business could still continue to grow as long as it’s relevant and is using the right strategies.

In this episode, we talk about the different strategies that you could implement in your business to help keep it afloat. It could be cutting costs, proper inventory management, finding the right supplier and partnering with suitable lenders. We’ll also talk about the market outlook so if you’d like to prepare for what’s coming, make sure you tune in till the end. Let’s get started!

[00:01 - 03:27] Opening Segment

David’s forecast on the economic dip
Incorporate these tips into your processes and do it on a regular basis

[03:28 - 26:16] Let’s Talk About Strategies That Work

Be profit margin focused
- Focus on high profit-high velocity products
- Remove products that do not sell
- Create a product timeline
- Do not be led by your emotions
Increase your profit by taking advantage of split testing
Assess your market
- Classify needs versus wants
Look for wasted PPC ads spent
- Run an entire audit
- Revisit old campaigns
- Monthly reports and analytics
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Refinance debt by utilizing different lending options to get the best rate
Cancel services and subscriptions that are not necessary to run the business
Liquidate slow-moving inventory
- Collaboration of the marketing and inventory team is the key
- Break-even analysis