Businesses fade. Technologies emerge. Trends happen. The world is always evolving.
And as much as we think we can determine what industries are “recession proof,” that’s not always the case.
Sure we know that we’ll always need food in our bellies, clothes on our back, and places to live.
So you can likely assume that whatever companies cater to these needs are “recession proof.”
However the ways in which we eat, clothes we put on our backs and places we live may very well change over time.
Therefore businesses that were once successful in one area could eventually die out if they don’t adapt to changing times.
So how do you create a recession proof business or brand?
Two things: A loyal following and adapting to changes
Look, we know that to have a successful business you’ve got to have either a great product or service.
We also know that you’ve got to have great customer service.
These are obvious.
However, even with a great product if that product becomes obsolete, you’re screwed.
So the ability to adapt is crucial when it comes to being recession proof.
But the foundation to all of this is a loyal following.
If you can build and maintain a loyal following you are bulletproof.
If people like you, hell if they love you they are going to hang on your every word and because of that loyalty they will follow you.
The biggest example I can think of
Want to know who I think is the biggest example of the ability to adapt and maintain a massive following? Madonna.
Think about it.
This women is still hugely relevant even in her 60s.
And if you just found out who Madonna was and saw a picture of her in the 80s you wouldn’t believe this is the same person.
She adapts to everything including musical style, fashion, social media, you name it.
How are you building a loyal following?