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
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
Applying to the Craft of Consulting Membership to get support
For more information about the Craft of Consulting Membership: