I've been having a lot of conversations recently with business owners who are scared to take risks with their businesses in the current market.
Too many businesses are just holding back.
But the truth is, that now is a great opportunity for small businesses.
Many great businesses were built during a recession, Microsoft, Disney, Netflix, Airbnb. Why did they survive? Because they were resilient and innovative, at a time when so many other people were scared to make the leap.
We started our business in a recession, it allowed us to put our best foot forward.
Since then, we’ve worked with hundreds of small service-based businesses to help them to navigate the entrepreneurial journey.
There are a few things to remember when running a business in a recession:
• Everything passes. The recession will pass. If you keep focused on the business, you want to build and take steps towards it.
• Take some time out but don’t stop. While many business owners stopped in March 2020, inside BBB our members focused on things they could move forward, we turned our attention to working in the business and strengthening relationships. This meant that when the market opened, our members were ready to go in a better position, as they didn’t stop.
• Focus on where the money is, not where it isn’t. It can be tough at the moment to cut through the noise. But there are still opportunities out there and focusing on the opportunities will shift your perspective - which is critical.
• Adaptability. Businesses that thrive throughout a recession are the ones that have adapted. The beauty of owning a small business is that you can quickly adapt. Embrace the changes 😊
• Having a supportive network. It’s no secret that starting a business can be tough. Having a supportive network of people around you to talk to, to share ideas and knowledge will be invaluable to you in navigating this tough time.
Businesses built in a recession are built to last 😊
Join our free workshop l and we’ll show you some of the key steps.
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We cut through the nonsense advice to give you what you need for the stage you’re at in your business, reducing the risk of wasting time, money and energy in the process.
We’ll help you determine how to become a £100k business owner.
We’ll show you how to stress test and evolve your business model so it’s £100k ready.
We’ll share the straightforward methodology you need to apply to get there.CLICK HERE
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Give your new service-based business the nurturing and firm foundations it needs to grow and flourish from your first year.
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