3 UpwardAction® Steps for Prosperity in a Bear Market

When the market is less than ideal, resourceful finance professionals and independent insurance agents have an advantage that folks who only work for others are sadly missing. If you fit into any of the categories above, your advantage is the power to control your own professional future, regardless of the stock market’s performance or any economic condition or forecast.

As an entrepreneur, you will always have a choice of two options when deciding how to manage your business in a bear market. You can chose to (A) participate in what some folks will call a “recession” or economic downturn – or (B) put in place professional branding and interactive marketing techniques that will put you ahead of the competition (because they are down-scaling their marketing efforts) and in a position to attract more clients for more profitability. The choice is yours!

For those of you who decide to go with Option B – which involves continuing to build your business regardless of economic forecasting, let’s explore three (3) keys for prosperity during any economic condition – including the current market.

UpwardAction® Step 1: Create a crystal clear vision statement for your business. Building the business of your dreams requires that you are clear about the “dream.” This is a critically important step in building a business that can withstand any economic condition. I am a huge fan of the philosophy of “beginning with the end in mind.” If you are not yet familiar with this philosophy and a student of Michael Gerber, make sure that you read his best seller The E-Myth Revisted: Why Most Small Businesses Don’t Work and What to Do About It, now … not later. This practical and insightful book is required reading for my private coaching clients.

UpwardAction® Step 2: Get really clear about WHY you are in business. Once you are clear about your WHY, the process of HOW to make your business vision a reality will begin to unfold. A strong business WHY is one that is deeply personal and closely aligned with your core values. A strong WHY will also keep you motivated and focused on making your business vision a reality. Your WHY is truly about what you want to experience in your life.

UpwardAction® Step 3: Ramp up your interactive marketing strategies and techniques. Interactive Marketing leads to sales … and sales results in profits. A “slow” economy is no time to reduce your marketing efforts. Instead, use this time to really consider what marketing campaigns have been the most profitable and ramp up those efforts. And, explore ways to increase your marketing efforts to get even better results. If you are not currently using interactive marketing techniques, now is the time to schedule an introductory coaching session with UpwardAction.

By paying close attention to all of your marketing efforts, being creative in developing new marketing campaigns and making sure your marketing is interactive, you will find your business soaring while your competitors are scaling down, losing business and waiting for the economy to “pick-up”.

Until Next Time ~ Expect the Best!

Coach T.C. Coleman

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