In times of economic uncertainty, it can be difficult to maintain a steady flow of income for any business. The coaching industry, in particular, can be vulnerable to economic downturns as people tend to cut back on discretionary spending during tough times.
However, there are steps that life coaches can take to recession-proof their businesses and ensure that they continue to thrive even in a challenging economic climate. In this video, we’ll explore the first of 10 strategies that you can use to recession-proof your life coaching business.
Here is an exercise you can do to recession-proof your online business.
Exercise 1: Diversify Your Offerings
Think about the types of products and services you could offer to diversify your business. List at least three different offerings that you could create and describe the benefits that each one would provide to your clients.
