07/18/22

Listening Time:

31 min

Episode 169: Preparing Your Consulting Business for a Recession—with Deb Zahn

How will you keep your consulting business thriving if there’s a recession? It’s not a straight-forward answer, especially when there are so many other uncertainties and factors at play. But you can prepare and respond in ways that reduce your risks and maximize your opportunities.

In this Craft of Consulting podcast episode, I talk about how to prepare for and respond to a recession—without panicking or lowering your price.

TODAY'S GUEST

Deb Zahn

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Episode Details

Recessions can let you do more for consulting clients and keep your business cooking. In this episode, we talk about:


  • Knowing that recessions could mean that consulting clients pull back on the spending or delay or cancel work

  • Avoiding panic decisions and panic actions if a recession hits

  • Questioning if you should lower your price to compete

  • Strengthening your business foundation

  • Assessing and managing your pipeline of work

  • Considering your expenses but continuing to invest in expenses that help you generate revenue

  • Paying attention to cash flow

  • Socking away some just-in-case money

  • Honoring your relationships with your existing clients without undermining your business

  • Getting clear on who your buyer is and what they have a demand for because of a recession

  • Talking to people in your market

  • Positioning yourself as a thought partner about the recession and its impacts

  • Doubling down on client experience

  • Recognizing the dynamic nature of any type of crisis


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https://www.craftofconsulting.com/membership