Why Cutting All Your Expenses Will NOT Save You During a Recession

The Recession Buzz: Beyond Fear and Scarcity

Let's cut to the chase: everyone's buzzing about the 'big bad recession' – it's like a broken record, right? 

But here's the deal: how you ride out this economic rollercoaster is less about the chaos around you and more about your mindset, your adaptability, and how you view the world. Yes, times may seem a bit uncertain, but it's not a one-size-fits-all scenario. So, let's move beyond the fear-mongering and dive into what really matters.

The Myth of Cutting Costs: Why It's Not Always the Answer

I'm pretty sure you've heard this a million times (in one form or another): "Save money, tighten your belt, prepare for the worst!" 

Let's be real. 

Some expenses just can not be trimmed, and that's okay. 

For example,  

Try being told by a "business expert" with NO CHILDREN that YOU, with a household FULL of children (or as we say in Texas: "A household with Fity-llemn chirren), that you need to "...your grocery bill..." 

What?

YOU try cutting the snack bill in a house full of children and then actually having to LIVE with those children every day. Most people wouldn't be able to last an hour.

Cutting your expenses in some areas isn't always practical, especially when you're trying to balance cost with quality.

A Case in Point: Rethinking Business Expenses

Now, I'm not saying you shouldn't even try to cut expenses. We all have areas where we have some holes that can be plugged. For instance, I found $400/month of redundant expenses in our business tools a few weeks ago. We all have those 'aha' moments where we realize we can cut back. But it's not always about downsizing – sometimes, it's about reevaluating and optimizing what you currently have.

The Real Deal: Focus on Income, Not Just Outgoings

Sometimes, it's not about what you can cut; it's about how you can grow. That's right – it's about being resourceful and finding ways to boost your income. So, if your grocery bill spikes or your car insurance skyrockets increases by $300/month, the question isn't "Where can I cut?" but "How can I bring in an additional $300/month to cover that increase?"

The Pivot: How to Adapt and Thrive

As business owners, we're in a unique position. Sure, we might skip a few luxuries, but we're less likely to slash our business budgets. So, here's a witty piece of advice: pivot your offerings to cater to fellow entrepreneurs. They are your gold mine target market in challenging times.

Upcoming Group Coaching: A Treasure Trove of Insights

And now, for the juicy part: we're diving deep in our next group coaching session on the 28th (mark your calendars!). We'll explore goods, products, and services that business owners invest in, regardless of economic climate. Plus, I'll share tailored strategies to pivot your business effectively – a must-attend for anyone serious about THRIVING and not just surviving.

Hot Seats and Personalized Advice

Get ready for some hands-on, no-nonsense guidance. If you're in our group coaching, you should snag a hot-seat opportunity where we'll dissect your business offerings and re-engineer them to attract more business owners. This is about Strategies that PAY the bills.

Wrapping Up: Coffee Shop Wisdom

So, that's the lowdown from my end – straight from the coffee shop. Remember, a recession isn't a death sentence for your business. It's an opportunity to think creatively, be resourceful, and maybe enjoy a good latte while you're at it. Stay fearless, stay smart, and I'll see you in our next Group Coaching Session.

And if you still need to sign up for Group Coaching, CLICK HERE. The pricing actually GOES UP (not down) on Black Friday, so you'll want to jump on this while you can get it at the current rate.