479. Surviving a Slump: Navigating Decreased Sales in a Fluctuating Economy
The Product Boss with Jacqueline Snyder
Jacqueline Snyder
4.8 • 961 Ratings
🗓️ 5 June 2023
⏱️ 33 minutes
🧾️ Download transcript
Summary
Navigating the uncertain terrain of running a business can sometimes lead to tough questions. Today, we're tackling one such question head-on in our Ask Us Anything series, brought to us by one of our concerned Multi-Stream Machine students facing an unsettling sales drop.
They've noticed a significant sales slump after raising their product prices and are left wondering if it's due to economic shifts or the new pricing. With their family's livelihood on the line, this isn't a mere academic exercise, it's a pressing reality that requires practical solutions.
We're diving deep into this topic, exploring potential strategies including the possibility of a price decrease or a sales event. We're also looking at the role of customer adaptation and the importance of the testing process in your business strategies. Remember, you're not stuck, you have options, and we're here to help you discover them. So join us in this critical discussion, it may not be fun, but it's extremely helpful and relevant.
Brought to you by the Shop 1 in 5™ Pledge! Commit to making 1 in 5 of your purchases from a small business, whether online or offline. The Shop 1 in 5™ Pledge is a way to make an impact together when (and where) it matters most. Join us and take the pledge today!
Resources:
- Want a guide to over 308 business tolls and resources to help you effectively run your product-based business? Visit theproductboss.com/resourceguide to get this FREE download today!
Connect:
- Website: theproductboss.com
- Instagram: @theproductboss
Transcript
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| 0:00.0 | So I think that going back to the drawing board of it to really hone in on who your customer is and who you want it to be and then knowing that your pricing is justified in that. |
| 0:11.0 | You're reinforcing the value. |
| 0:13.0 | Welcome to the Product Boss podcast, where we're dedicated to helping product-based |
| 0:21.0 | business owners turn into revenue generating successful |
| 0:23.6 | happy product classes. I'm Jacqueline Snyder and I'm Nina Kuno-Cetep. Together |
| 0:29.4 | through digital courses, coaching and masterminds we've helped over 50,000 students from startup to |
| 0:35.5 | multi-million dollar businesses scale their sales while blending in their |
| 0:41.0 | dream life. It gets lonely out there in the product business world, |
| 0:44.0 | we fully believe a business shouldn't be built alone. |
| 0:47.0 | There's room at the top for all of us. |
| 0:50.0 | So let's get scrappy and creative together, |
| 0:52.0 | product boss, to be profitable make more sales and grow your visibility. |
| 0:57.5 | Are you ready? Let's dive in. |
| 1:07.6 | Hi everybody I am so excited. Do you want to know why? Because this September HubSpot is having his annual inbound conference. You know that we are so |
| 1:12.4 | proud to be part of the HubSpot |
| 1:14.0 | podcast network. This September 5th through the 8th, HubSpot is hosting its |
| 1:19.2 | annual inbound conference in Boston. They're bringing together so many amazing leaders across business. |
| 1:26.7 | I'm talking sales, marketing, customer success, operations, and more. It sounds like such a great time because it will be. You're |
| 1:36.7 | going to be wowed by the speakers, there's going to be dozens of them, but there's |
| 1:42.2 | also going to be speakers like Reese Witherspoon and Derek Jeter. |
| 1:46.7 | I mean, talk about, wow, right? |
| 1:49.7 | This conference is the place to be for business leaders who want to learn about the best sales strategy. The scale your business in a sustainable way, inbound is the place to be this September. |
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