177: Move Faster: Business Strategies in a Recession: Jonathan Slain
We are facing unprecedented challenges in our communities, nation, and the world as the coronavirus emergency necessitates changes in the way we live and operate. Talking to today’s guest let me know that now is the perfect time to hear his wisdom.
Jonathan Slain is the author of a new book, Rock the Recession: How Successful Leaders Prepare For, Thrive During, and Create Wealth After Downturns, which is already a #1 Amazon bestseller. Jonathan coaches high-growth leadership teams across the US in his copyrighted program, the Entrepreneurial Operating System called “Traction.” He’s here to share with us today how we, as business owners, respond when crises hit and create a recession. Jonathan shares about Black Swan events and how they can come up at any time. There are elements of this interview that are difficult to hear, and Jonathan offers strategies that might feel difficult to handle. Please take what you can from this interview, explore these ideas, and decide how you want to show up in the middle of chaos and crisis. One way we can get through a difficulty together is to support each other, so this podcast will continue to be there for you as we move forward.
● Fact: We never know when the next recession is coming, but we can look for black swan events as clues
● How Jonathan got into his work back when he owned several gyms and a recession hit
● Decisions to be made into today’s economy
● Things for coaches to remember:
○ The intellectual property we create is valuable for our clients
○ Businesses that do well in recessions do NOT cut their marketing dollars
● How we make our coaching too valuable for a client to let it go
● Why Jonathan’s coaching approach has become more directive because his clients want tactical advice---not philosophy
● How Jonathan uses the “emergency brake” with his clients--with a four-tiered plan
● Why clear decisions need to be made far away from panic
● Jonathan’s valuable resources: Check out his free assessment!
● The massive opportunities to be found in times of recession
● How you can be the coach that helps clients rock the recovery