Many people share the fear of an economic recession, but there is in fact opportunity in a recession if you are properly prepared for it. Therefore, in this episode we will teach you how to utilize storytelling to create opportunities so you can prepare for and thrive in any recession.
With me today is Jonathan Slain, founder and CEO of Recession.com and author of Rock the Recession: How Successful Leaders Prepare for, Thrive During, and Create Wealth After Downturns. As an expert on recessions, Jonathan argues that business owners don’t need to fear them, but rather they should embrace them. He shares how to recession-proof your business in preparation for the next big downturn, which may be closer than you think.
The first step in recession-proofing your business is positioning yourself for opportunity. This begins with utilizing story to connect with your competitors to build trust and rapport. Jonathan recommends having meaningful conversations with 5-10 competitor businesses you would love to buy because when recession hits there may be an acquisition opportunity.
If you wait until recession hits you will be seen as “opportunistic” there is no story or relationship built up with them beforehand and therefore no trust. ~Jonathan Slain
Storytelling is what takes surface-level conversation and gives it meaning, therefore creating trust and appreciation. So, when recession hits and your competitor can’t stick it out, you will be the first person they call for acquisition. But it is imperative you begin these conversations now instead of when a recession hits.
Tune in to hear how to recession-proof your business and brand story in preparation for the next big downturn, which may be closer than you think.
Discussed in this Episode
- Why storytelling builds trust and in turn opportunity
- How to utilize storytelling to connect with your competitors
Resources & Links
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