How To Navigate a Tough Economy: 4 Tips To Make This Uncertain Economy Start Working For You

Could this marketplace get any more uncertain? We’ve had bank failures, rising interest rates, inflation…and then just when you think the list can’t get any longer, it does. And the result of all this uncertainty is a far tougher market to grow sales and build a business.

Any professional out there today selling products and services can feel the impact. They can sense the tightening budgets, slower decision-making, and increase in negotiating. It can be exhausting.

So how do you successfully navigate a tough economy?

What If You Believed a Challenging Economy Is Your Opportunity For Growth?

But imagine for a moment that you believed that uncertainty always leads to opportunity. What if you believed that disruption, even when challenging, was just the break you needed to transform your organization and take your business to the next level? And what if you bought into the idea that you really could make this uncertain economy start working for you?

Navigating a Tough Economy:?4 Tips To Make This Uncertain Economy Start Working For You

Navigating a tough economy isn't easy, but imagine for a moment that you believed that uncertainty always leads to opportunity. What if you believed that disruption, even when challenging, was just the break you needed to transform your organization and take your business to the next level?

And what if you bought into the idea that you really could make this uncertain economy start working for you?

Get Out Of The Sand

In other words you need to embrace the challenges of this economy and deal with tough reality. Take an honest look at the challenges the marketplace is throwing your way.

Ask yourself if any opportunities have been created, and from there, create your plan. How are you going to navigate what the economy is giving you?

Once you honestly embrace the challenges of the marketplace and get your head out of the sand, you have what you need to make this economy start working for you.

Sell Inside Out

Instead of chasing new business, focus on your existing customers. The clients that are loyal to you, and those that need you right now. Listen, you are not the only one challenged in this tough marketplace.

If you focus on your existing customers, talk with them, engage with them, they will tell you some very powerful information. They will tell you what they are facing, what they are most worried about, what they most need, and how you can most help them.

And that is exactly the information you need to figure out how to continue to sell, bring value to clients, and grow your business. And if you’ve recently lost a valued client, it might not be too late to win them back.

Play the Long Game

The great thing about a challenging marketplace is that it will not last. It’s true – think about it – look back through history and you will see what we are talking about.

The marketplace ebbs and flows – some years are good and some years, well, not so much. So your job is to play the long game. Do what you need to do to make it through the challenging times and plant the seeds to do the work so when the economy turns, you are more than ready to seize the opportunity.

The only guarantee you have in an uncertain economy is that it will not last. Even the most challenging times will not last forever. So instead of focusing on missing a short-term goal, focus more on doing the right behaviors and actions that will lead to future growth.

Pick Up the Pace

And last, but not least, whatever you are doing that is working, do more of it. When the market slows down, you need to speed up. Increased activity of the strategies that are effective will lead to more opportunity, more turns at bat, and more closed deals.

In a challenging marketplace, you cannot control when customers buy or how much they spend, but you can control how many customers you call on. And chances are, the more calls you make, the more deals you’ll close.

Yes, 2023 is turning out to be such a challenging year,?but it does not mean it can’t be your best year on record.?

You just need to shift how you think about the marketplace, and put the strategies into place to make this challenging economy start working for you.