rachel mcmichael:

Day 2: The Coronavirus (COVID-19) and Your Online Business - Recession Proof Your Business

This week, we’re doing something different. We’re cancelling our regularly scheduled programming to bring you an impactful, important series all about the Coronavirus and your online business.

On yesterday’s episode, we talked about our response at McMichael Consulting LLC and how my goal this week is to bring you along on this journey with us. 

Right now I’m hearing from you — from my community — that there’s a lot of confusion. 

We have questions. Questions like: 

  • What do we do?
  • How do we move forward?
  • What steps do we take as online business owners?
  • Is it ok to sell our products and services right now?

In this five-part mini-series, we're going to be answering these questions and more.

So if you’re not already subscribed to the podcast, make sure to hit the subscribe button right now, and if you have others in your community — online business owners, coaches, colleagues, and clients – who could benefit from this information – please share this episode with them!

In this series, we’re interviewing leading experts in our industry to talk through how they’re responding and to get their best tips, strategies, and practices to recession-proof our businesses, protect our health, serve our families, and maintain financial peace. 

You’ll hear from experts like Mel Abraham, Stacy Tuschl, Dr. Shannon Irvine, Christina Jandali, Michelle Myers, and more, along with several of our members in the Business with Impact Society – all leaders in their industries and fields of expertise.

We already know that when women support women, we all thrive — and I am committed to bringing up the most up-to-date, relevant, timely business strategy so you can continue to make a big impact in  your corner of the internet.

In the first half of this episode, you’re going to hear from my good friend Stacy Tuschl.

Stacy is the Founder and CEO of the Foot Traffic Formula, where she helps brick + mortar business owners get more customers — more foot traffic — in the door using the power of social media.

Stacy has multiple seven figure businesses in both the brick + mortar space and the online space. And something unique about Stacy is that she’s been through this before (with the 2008 recession) and she’s come out on the other side of it.

So Stacy isn’t just speculating on what could happen — she’s giving us a plan today for what we can do to protect our businesses no matter what does happen. 

Here are a few highlights from the episode you won’t want to miss:

“Cut unnecessary spending….” at 4:33 Stacy explains how to evaluate if your expenses are revenue-generating and what expenses you need to cut to prepare for a recession.  

“Build your nest egg…” at 7:34 Stacy talks about how to build an emergency fund for your business.  

“Get creative…” at 10:10 Stacy explains how there is still money to be made during a recession and provides the best way to make money during a recession.

In the second half of this episode, you’ll hear from my friend Mel Abraham. Mel is a globally recognized thought leader, business advisor, CPA and financial expert.

He’s advised entrepreneurs from startups to multi-million dollar and billion-dollar companies as to what drives value and how to build their dreams.

And he’s not just a talker — he practices what he preaches. Last year, when Mel was diagnosed with cancer, he was able to rely on his own wealth machine, take almost a year off, and continue to support his family. 

Here are a few highlights from the episode you won’t want to miss:

“I will promise you this… it's temporary” at 14:55 Mel talks about why this potential recession isn't a new thing, and how we can approach it.

“When we make decisions from panic we turn dollars into pennies, but when we make decisions from patience and persistence we turn pennies into dollars.” at 15:30 Mel reminds us that reacting from fear is the WORST thing we can do… and shares what we can do instead!

 

This week, we're continuing to provide you with the BEST resources on what to do in the coming weeks (with a 5-part series this week on The Business with Impact Podcast):

Each day, we’ll cover a variety of topics related to the COVID-19 in the areas of:

  • Online Business
  • Your Home & Family
  • Your Finances
  • Maintaining Your Health

And if you are struggling – if you need community – if you need support – jump into The Business with Impact Society — We’ve opened the doors for this month to allow you to get the community, support, and strategy you need to help you rise through this together. You can join today for just $7, head over to rachelmcmichael.com/society for all the details.

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Here’s how to get the most updated information on COVID-19 from the Center for Disease Control: https://www.cdc.gov/coronavirus/2019-ncov/symptoms-testing/share-facts.html

And here’s a link to the resource page on our website for all of the up-to-date information both from our podcast series and from local business owners who are doing their part in bringing the best deals and services to you during this uncharted season we’re navigating through together.

Subscribe & Review on iTunes!

Are you subscribed to the Business With Impact podcast on iTunes? If not, I want to encourage you to do that today. I don’t want you to miss a single content-rich episode.

Click here to subscribe in iTunes!

And if you enjoyed today’s episode, I would be really grateful if you left me a review over on iTunes, too. iTunes reviews get the message out about this podcast, and I love hearing your feedback!  All you have to do is click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what you loved about today’s episode.

You can also take a screenshot and post it to your Instagram Stories with your biggest takeaways and tag me, @rachelrmcmichael!

I’m so grateful for you!

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