Economists and forecasters have differing views on whether or not we’re in a recession and, if we’re not, when it will hit. Still, most are predicting a downturn in the economy and stock market at some point in the near future. The Federal Reserve has hiked interest rates to above 4%. They hovered near zero just a year ago. Along with that, the price of everything from eggs to used cars has continued to rise. Companies, too, have been taking a hit with the tech sector, in particular, cutting 100,000+ jobs in the first two months of 2023 alone.   

In times of economic recession, the job market becomes increasingly competitive, with fewer job openings and a larger pool of applicants vying for those positions. Companies across the board look for ways to tighten their belts while searching for new and different ways to generate revenue. It is during these times that having strong sales skills can be a major advantage in finding and securing employment and having your company weather the storm. In fact, sales skills can be the best antidote to a recession, as they enable individuals to create and capitalize on opportunities that may not be immediately apparent to others. Here are three ways your sales skills can make you recession-proof proof, whether you’re a service professional, coach, or consultant. 

Sales Skills Equal Revenue Generation  

Sales skills are directly tied to revenue generation, and in a downturn, you or your company will likely be looking for ways to increase revenue and cut costs. As a result, those with strong sales skills are able to demonstrate how they can contribute to a company's bottom line, whether through increased sales of existing products or services or by identifying new opportunities for revenue generation. You make yourself invaluable and recession-proof when you can count on yourself to bring in revenue.  

The Strength of Your Relationships Will Put You Ahead 

Another instrumental benefit of sales skills in a recession is building and maintaining strong relationships with clients and customers. Building authentic relationships in sales is one of the key tenets of a strong sales plan, and in times of economic uncertainty, your relationships will become that much more invaluable.   

Businesses and individuals often need more time to spend money during a recession. They more carefully consider expenses and may be more likely to do business with someone they trust and have a good relationship with. Sales skills can help individuals build and maintain these relationships, which can be invaluable in securing business and maintaining a steady income stream. 

Easily Identify New Opportunities 

In addition to generating revenue and building relationships, sales skills can also be instrumental in identifying and capitalizing on new opportunities. For example, in a recession, businesses may be forced to pivot or change their business model to survive. Individuals with strong sales skills are often the ones who can identify these opportunities and turn them into a source of revenue. Whether identifying new markets or product lines or developing new sales channels, individuals with strong sales skills can often think creatively and find ways to generate revenue, even in challenging times. 

Beefing Up Your Sales Skills During A Recession  

Of course, to take advantage of these opportunities, it is important to have strong sales skills. There are many resources available for those looking to develop their sales skills. Our 6A Framework is a six-step sales process that builds effective skills and leads to revenue generation. This framework emphasizes bringing awareness to your service or brand, building strong relationships, selling when the moment is right, and continuing to nurture and maintain the client relationships you already have. 

Ultimately, the value of sales skills in a recession cannot be overstated. Whether you are an entrepreneur looking to build a business, a sales professional looking for new opportunities or a woman who wants to develop their skill set and increase their earning potential, sales skills are a major asset in creating security and achieving goals. That’s why investing in sales skills and resources is your recession insurance.