017 - Navigating Economic Turbulence and Starting the Year Strong
In this episode of the 6 to 7 Figure Women Podcast, hosts Jessica Fearnley and Meghann Conter discuss strategies for women business owners to thrive during economic uncertainty.
We share our personal experiences from past recessions, emphasizing the importance of understanding finances, continuous growth, and adapting marketing strategies.
We also talk about the need for resilience, serving client needs, and leveraging networking and relationships, as well as self-care and emotional regulation in business decision-making. Self-care isn’t just a buzzword, it’s a business strategy!
What we discussed:
[00:01:28] Tips for women business owners to start the year strong, regardless of economic conditions or political climate
[00:03:25] Maintaining an open mindset and being open to opportunities
[00:04:55] The necessity of personal and business growth, including the importance of continuous learning and up-leveling
[00:08:49] Cash flow and reserves for business recoverability and building a stronger financial position
[00:13:55] Financial advice and planning
[00:16:10] Experiences and lessons learned during the 2008-2009 recession
[00:21:28] Resilience and self-trust in navigating challenging times in business
[00:24:11] Analyzing client data to understand changes in target market
[00:28:32] Serving at the Highest Level
[00:31:59] The importance of self-care and managing emotional well-being during challenging times
[00:34:43] Power partners, referrals, and paying it forward in business growth
Quotes:
“I think that understanding what your clients are going through, and for people listening who work with organizations, understanding the pressures in that organization, the organizational objectives and key priorities, to me, that is the most important thing we can be doing when it comes to surviving in any economy, because that will determine directly what you need to be offering and what you need to be charging. I think that there are opportunities in all economies, but it's about understanding what people are looking to invest in and what they aren't.” - Jessica Fearnley
“Especially as women, we have a really hard time naturally asking for what we need. So don't let yourself go one more time wasting that beautiful question that good connectors and good power partners ask, which is how can I support you right now? What can I do for you? Don't let that question just fall… Get it out there and get yourself visible.” - Meghann Conter
Links:
Join The Dames virtual roundtable: www.thedames.co/roundtable
Book a discovery call to work less and earn more: jessicafearnley.com