• 002 - How to Survive in 2024's Economy

  • Jan 1 2024
  • Length: 21 mins
  • Podcast

002 - How to Survive in 2024's Economy

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  • Summary

  • Go to https://4dayprofitrace.com to get my FREE 4-DAY DIAGNOSTIC COURSE and be ahead of 90% of small business owners in the world!

    In this episode, I'm delving into a topic that business owners often approach me about privately - the economy.

    I'm recording this in 2023 as we head into 2024, in the wake of significant global changes since 2020. Now we're in an inflationary period - interest rates are up, purchasing a home or car costs more, grocery and petrol prices have surged. Rents and mortgages are becoming increasingly expensive. Times are uncertain.

    Many business owners are reaching out to me, concerned about what lies ahead. Those who navigated through the pandemic now ponder how they'll adapt. Some have successful strategies, but many in crisis seek assistance. I repeatedly hear similar concerns.

    The economic landscape has shifted from the pandemic's boom when dog trainers could charge almost anything. Now, cautious customers with tighter budgets demand long-term thinking and creative approaches.

    Dog care businesses like daycares, boarders, groomers, and walkers face evolving challenges. With more travel resuming, boarding may decline as owners cut back on perceived luxuries. Even in-demand groomers feel squeezed by overwork and burnout.

    Surviving the 2024 economy means focusing locally - connecting with your community, whether you enjoy it or not. Build networks and build referral partnerships through social media and messaging. Display your branding everywhere via QR codes leading to your website - on vehicles, shirts, buildings, etc.

    Don't hide - the businesses still thriving in 2026 will be those that market consistently without relying solely on expensive ads. Creating social media content and making local connections take effort but deliver results.

    I lived through the 2008-2009 recession and barely held on after laying off 48 employees. Compared to that housing crisis, today's inflation affects a broader spectrum - housing, food, transportation, everything. Playing the long game now is imperative.

    Just as Coca-Cola famously advertised through the Depression while competitors pulled back, your visibility distinguishes success from failure. Depressing times tempt us to retreat and give up, but persistence and creativity win the day.

    Don't let your business fail, hiding and giving up guaranteeing defeat. I want to see you succeed because your victory enables you to support others. Now is the time to courageously expand your outreach so you're still standing strong in 2026.

    So, listen to this episode and lay the foundation for your future prosperity!

    Remember! Go to https://4dayprofitrace.com/ to get my FREE 4-DAY DIAGNOSTIC COURSE and be ahead of 90% of small business owners in the world!
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