How to Recession-Proof Your Practice
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Advisors can recession-proof their clients' investment portfolio in their sleep.
But how can you recession-proof your practice to avoid excessively focusing on needy clients, suffering lower profits, or losing a big client or key employee?
Imagine you had the benefit of managing your advisory practice though hundreds of bear markets and recessions.
You'd get pretty good at it, right?
I was first introduced to strategies to recession-proof a small practice or business in 1991 by my marketing mentor, the best-selling author Jay Abraham.
I've leveraged his strategies for countless advisory practices during tough times — business reversals, economic uncertainty and volatile markets.
What can be learned from those who survived and even thrived during the 2008-2009 economic meltdown?
What works and what does not to revitalize your business during a recession?