Three ways to reset your business during a crisis
Reset Your Business
The Covid-19 crisis has probably had a feast or famine effect on your business. Some businesses are so busy trying to meet the surge in demand that owners and employees alike are exhausted. Other businesses are stalled and in waiting mode as they wonder when they can reopen and get back on track. Make sure that being in a waiting mode doesn’t become a wait and see what happens mode. There are a lot of things that you can do to reset and regroup your business while you wait.
Will Rogers said, “Even if you are on the right track you’ll get run over if you just sit there.” Sometimes clients think they can’t move forward unless they have a crystal ball and know the future. Or they think that they are too stressed or overwhelmed to use this time to develop their business. In actuality, not knowing the future or being stressed is a good reason to plan something.
Here are five ways you can do to remain top of mind or even make money during these very trying times:
The first step of course is to carefully analyze your current financial situation. What money do you still have coming from clients? What money do you have in reserve? What are your ongoing expenses and is there a way to put some of them on hold? If you don’t have money coming in, at what point are you tapped out in your reserves? Be honest and share your status with your employees so they can plan for their future. Research and take advantage of any financial help that has been made available.
Ask yourself if there is any way that your business can solve a problem that the current crisis has created in people’s lives. Restaurants have been geniuses at doing this by selling takeout and delivery of meals but they aren’t the only ones who can provide a necessary service. Other businesses can follow their example. I know direct sales consultants who are delivering products to people’s doorstep and gyms that are providing online workouts and equipment to members. Doctors are even doing telehealth evaluations. Ask yourself, what aspect of my business are people missing and what is a creative way that I can provide that service?
If you have a business that is hands on and that you can’t provide during this time of social distancing, instead look for ways that you can encourage people to tap into services they will definitely want and need in the future by providing opportunities to buy gift certificates or packages now, to use in the future. Rather than offering a discount on your packages, offer an incentive to purchase it now by adding an extra visit or bonus as part of the package. For example, hair salons could give a free bottle of shampoo with every $100 gift certificate. Cleaning services could give one cleaning free with each three month package purchased. Fitness coaches and gyms could provide a free month of classes or a one on one coaching session with each package purchased. Packages always win over individual one off sales so think how you could package your product or service in a creative and appealing way.
Use this time to stay top of mind with your clients. Provide a service that doesn’t involve selling something and connect with ongoing and past clients with empathy and a service heart. A great way to do this is through regular emails or phone calls that provide helpful information. If you can provide a resource that will help your clients get through the time until they can get back in your service then create a document about that. For example: A massage therapist could post: Five pressure points to relieve pain. An accountant could post: Ten things you need to do to weather a financial crisis. A fitness coach could suggest: Ten ways to stay healthy and in shape while you can’t go to the gym. You get the idea.
Anticipate a surge of business once the crisis is over and businesses can reopen and get back to normal. Contact clients now and give them opportunities to book appointments for future dates to ensure that they can get the service they want. Most clients aren’t going to take the initiative to do this if you don’t offer and regularly encourage them. We are all procrastinators at heart and you will be doing yourself and your clients a favor if you go ahead and make a schedule for a month or so out despite the uncertainty. In addition, you are giving clients hope and something to look forward to.
Planning is the difference between being active and being passive. It is the difference between just accepting whatever happens and being at cause in your world. Take charge of your situation rather than giving your power away and letting others or circumstances rule. The best way to handle a crisis is to visualize your best case scenario, tap into your creative spirit and create the future you desire.
I was at a turning point in my business in deciding which direction to go. I needed some focus and inspiration. Fortunately I was connected with Lynne Watts and Dream Achiever Coaching. Through a few individual coaching sessions and her informative videos I learned how to change my mindset about “selling” and promoting my business. I also gained clarity on direction and uncovered a business model that would work best with my current phase of life. I now have greater clarity to move forward and have already landed my first client of the year! Lynne is positive, encouraging, and great at helping you find the clarity and inspiration you need to move to the next level! I highly recommend Lynne’s coaching packages! ~Sandra Abdalian