Chill & Prosper with Denise Duffield-Thomas Failing businesses and hard economic times
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Apr 11, 2024 This podcast episode dives into the challenges of failing businesses and navigating tough economic times. It explores the impact of global events on businesses, the importance of seizing opportunities, and turning setbacks into valuable lessons for personal and professional growth.
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Unexpected Small Business Boom
- A local small shed company had its busiest year in a decade due to increased home projects.
- This unexpected demand created opportunities for supporting businesses like marketing and bookkeeping.
Find New Customers Now
- Identify and serve new customer groups who need your services despite the economy.
- Remember customers may return when economic conditions improve; stay adaptable and creative.
Don't Personalize Slow Sales
- Avoid internalizing slower sales as personal failure; it may reflect customers' financial limits.
- Use the affirmation: 'They would if they could and they will again' to maintain perspective.