Fierce Feminine Leadership

[FFL 399] Should you Cut Your Prices In a Downturn?

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Synopsis

Should you reduce your prices in the face of an economic downturn? This is a question many fierce feminine leaders and entrepreneurs are asking as we continue to face economic uncertainty around the world and develop a strategy to position our businesses to weather the storm. While cutting our prices may seem like the obvious solution to surviving an economic crisis, there are other ways to safeguard your business and position yourself for success. Keep Reading >> Today, I explain why I believe cutting your prices during an economic downturn is a ‘knee-jerk’ reaction for many business leaders and the long-term impact it can have on your business - long after the recession has ended.  I highlight the importance of being creative with meeting your customers where they are and share alternative strategies you can use to continue building your business without reducing your prices. I also highlight what you should and should not offer for free as well as how adding value can strategically link back to your sales