Podcast

Surviving a recession

Episode 258 - Featuring Lee Matthew Jackson

March 18, 2020

Surviving a recession

In 2008 nearly the whole world fell into recession. Overnight we lost some of our biggest clients, and others drastically cut their investments with our agency. Fast forward to today. The global Pandemic is hitting the stock market, and it is predicted that another recession is round the corner for many nations.

What can an agency do to survive and thrive during difficult times? In this episode I share lessons we learned from 2008, as well as a range of practical steps you can take to strengthen your business.

We will cover:

  • Reviewing your products/services
    • Profitability
    • Strength of delivery
    • Value to client
  • Refining your customer avatars
    • Getting specific
    • Evolving/creating new products/services
  • Running a leaner operation
    • Review your expenses
    • Remote working
    • Contractor relations
  • Looking at personal finances
  • Focusing on your messaging and marketing
  • Supporting existing customers
    • How can you help them
    • Setup regular calls
  • Looking after yourself
    • Rest
    • Mental health
    • Exercise

Whilst be no means an exhaustive survival guide, this episode should inspire you to take a proactive look at your business and make positive changes. In this climate of fear, I believe in taking action, and holding onto hope.

If you are struggling at especially with your mental health, and need somebody to talk to, please consider connecting with WP&UP.

Resources

Here are some supporting episodes from our archive that will help you as you explore areas of your business.

Refining your avatar

#160 – How to lock down your niche

#191 – How to build authority in your niche

#53 – Niche WordPress websites

#22 – How to find your niche

Managing finances

#255 – Managing your agency finances

#247 – Money saving techniques

Productization

#198 – How to productize your services

#201 – How to productize your agency offering

Pricing

#215 – How to work out your hourly rate

#235 – Unpacking value based pricing

#163 – How to quote the right price for a project

#99 – How to be confident in your pricing

Transformation

In episode 200, I did a deep dive into the 5 stages of transforming your agency. Whilst more of a long term approach to this episode, there is a roadmap you can follow, along with a range of other supporting episodes.

#200 – How to transform your agency

Join the Agency Partnership Program

Cloudways are building the most valuable agency-focused program in the cloud-hosting world. Access a suite of benefits that increase your peace of mind, boost your productivity, and fuel your agency’s growth.

Request Your Invitation Now

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact us

Want to talk? Arrange a free consultation with one of our agency experts:

Search

Got a specific topic in mind you want to check out? Use the search below:

Subscribe to the podcast

More Episodes

Treat your ear drums to more from the Agency Trailblazer Podcast with these awesome episodes.

Rebrand – A client’s experience

Over the last few years, Nicole has been refining her audience and building an awesome business providing support to agency...

Care plans are not optional

Have you been underestimating the value of support contracts? This week, Dave shares how his care plans helped support his...

Trapped in the business

I was trapped in my agency and utterly hated it. Several experiences became the catalyst for change. In this episode.,...