Help! I can’t afford to pay my team.

Navigating Economic Downturns: Insights from Leslie Lyons

Economic downturns are a challenging time for any business, but they can be especially tough for small business owners. In the latest episode of Pleasurable Profits, Leslie Lyons, an embodied leadership and sales coach, delves into the complexities of maintaining profitability and making ethical decisions during these tough times. Here’s a glimpse of the wisdom she shared.

Leslie begins by reflecting on the unique challenges faced by small business owners, particularly those in brick-and-mortar setups. Unlike large corporations, where layoffs are often impersonal, small business owners know their employees personally. This makes the decision to lay off staff even more heart-wrenching.

One of the most poignant moments in the episode is when Leslie discusses a client who is grappling with whether to lay off key staff members to pay herself. Leslie’s advice? Look beyond immediate financial concerns and ground your decisions in your values and spiritual beliefs. She emphasizes the importance of making decisions that allow you to sleep at night, free of regret.

Leslie also talks about the importance of considering one's privilege when making decisions. As someone who has the financial support of a spouse, Leslie acknowledges that her situation is different from someone who is the primary breadwinner. This self-awareness is crucial when giving advice or making business decisions.

Another key takeaway is Leslie’s perspective on long-term versus short-term decisions. She advises against making long-term decisions based on short-term pain. For instance, laying off key staff might provide immediate financial relief, but it could cripple the business in the long run. Rebuilding a competent team can take years, and the cost of training new employees can outweigh the short-term savings.

Leslie also touches on the importance of spiritual grounding. She believes that having a higher belief system can provide the strength and perspective needed to navigate tough times. For her, this means trusting that God will provide and making decisions that align with her Christian values.

In summary, this episode is a must-listen for any small business owner facing tough decisions during an economic downturn. Leslie Lyons offers a compassionate, values-driven approach to leadership that prioritizes both ethical decision-making and long-term business sustainability.

So, if you’re looking for guidance on how to navigate these challenging times while staying true to your values, don’t miss this episode. Your business—and your peace of mind—will thank you.

Instagram: @lesliedlyons