What We Need To Keep in Mind to Survive the Recession

I'm having these thoughts this New Year morning:

~ Being in private practice is being in business. If we don't attend to the business aspects like business people, we won't survive.

~ Being in business as a one person show is actually being in two businesses: the business of conducting counseling or coaching or medicine, and the business of having a business.

~ Any sole proprietor is working more than double a full time job if we are being successful. Marketing alone is a full time job.

~ The conventional wisdom that most small businesses (including one person shows) fail in the first 3-5 years is true for therapists, coaches, and NDs especially because as a profession we don't put enough attention on the business aspects, don't adopt a business mindset, and above all, don't do smart marketing.

~ Any profit at all is good. Some loss may be a tax advantage, depending on your filing status.

~ Some keys to business survival in a recession are:

diversifying your income streams

diversifying your modes of service delivery

innovating new business models

really listening to what your clients want, and providing as much as you can

outsource the business tasks that suck your life-force dry

use that time to create new streams, modes, & models

prioritize your own self-care

Need more? Get free tips at The No Hype Marketing Mentor, and look for low cost self-paced self-help products and teleclasses.