Recession-Proofing Your Sales Pipeline
Lately, news about a looming recession is picking up. What’s a recession? I’ve never experienced one. In 2009, arguably the worst year on record for mortgages, I closed 183 loans. In 2011, arguably the worst year for cars, I sold 20+ every. single. month.
The only place a recession exists, is in your mind.
If you believe in recessions, you will fall victim to one. If you get out of your own head and continue to do the work, you’ll never notice. I don’t read or watch the news. I haven’t had cable TV for years. I don’t pay attention to news stories and economical scares designed to keep me from earning my potential income.
Ignorance is bliss when it comes to recessions.
The first thing you have to do, is make the decision you are done with excuses. No depression or recession is going to keep you from your concessions. When you make the decision to remove excuses from your life, you set yourself free and give yourself permission to win.
To survive in tough economical times, you have to do what others won’t do. THE WORK. In 2009, most loan officers were leaving the business to take jobs in other industries. As each of my friends and coworkers moved on, I’d ask for their contacts. After all, someone trustworthy needed to take over their clients.
I scooped up a lion’s share of the local marketplace. As everyone else was jumping ship for other careers, mine kept getting better and better. Simply because I changed my game plan. The way I conducted business in 2009, was not the same tactic I applied to doing business in 2005. In 2005, I contacted realtors direct. In 2009, I received third-party intros from people leaving their specialty. Same result. Different method.
There’s no such thing as a recession when you’re on a mission.
When you show up and do what you are supposed to do every damn day, you become recession-proof. When times get tough, and prospects get lean, you have to double down and do more work. Not only does this benefit you immediately, it builds up momentum for when the market comes back.
And it will.
Recessions are the best times to make money. Advertising gets cheaper. Competition thins out. People grow fearful. All the while, you’re out there, doing the work others won’t so you’ll have the life others don’t. Recession-proofing your business is all about thinking differently and working bold.
“Be greedy when others are fearful, and fearful when others are greedy” ~ Warren Buffet
When the cost of goods and ads decreases, get greedy as everyone else gets scared and runs. In the end, it is the bold who will get paid. When recessions happen, Wall Street firms clean up when they buy all the fearful companies who sell out at rock bottom. They hold the companies and assets until the market turns, then get paid AF.
While we are in a thriving market, you should continue to bust your ass. You need to do all you can do to save as much cash as possible. When the prices drop, and the economy gets sluggish, those of us with money on hand will prosper. Not because we have savings, but because we can snap up bargain investments with the dollars we’ve set aside.
The bottom line to recession-proofing your sales pipeline is work. Working smart and hard all day every day. Work now to set money back and work even harder in hard times, to take over.
Here’s the truth: customers exist in good times and bad. No matter what you sell, there will always be a market. You’ve just got to find the lead source, tap into it and relentlessly close as many prospects as possible. The best part about being in sales is that no matter what the economy is doing, there’s always gonna be someone who will buy our sh*t.
Making sales is what matters. So build a big pipeline, deliver impeccable service and work your ass off. You’re in sales. You have no excuses. In tough times, it will be harder to close people because they’ll become more indecisive and concerned about added expenses. You’ll need to practice and hone your sales skills and continually sharpen your sword.
Recession or not, we’ve got to get paid.
Finally, make sure you share this on social media and with another sales pro—who needs to get out of their head—and back to work. Shout out to Joseph Goodman for coming up with the idea for this blog post.