It’s been a crazy week. It feels like head-spinning news and changes are coming at us at the speed of light bringing with it a good deal of uncertainty, and therefore, anxiety.
To be honest, I’ve had a few moments where I’ve felt like throwing my hands in the air and screaming.
What’s the use right now of doing anything if the ground is going to shift underneath me every two minutes?!
Thankfully, after taking a few deep breaths (and occasionally throwing on my kickboxing gloves to throw a few punches), I calm myself down.
Today, I’d like to offer a few insights about how you can weather these uncertain times in your business and fortify your business for the future.
1) Use This Time to Diversify Your Business Model
The other day I was brought on a podcast to talk about the importance of having multiple ways to sell your knowledge and generate income. The audience consisted of a number of public speakers who were suddenly facing months with very little income due to canceled conferences.
If you’re in a situation where some of your income is evaporating, now would be a good time to use my Lean Launch Method to get something to market quickly, especially something virtual that can replace any in-person gigs that have been canceled.
You can’t rely on just one source of income or customer leads. If you do, you’ll get hit hard when the dogs and cats start living together.
2) Look for the Opportunities
It’s easy at a time like this to feel like the risks are piling on, but there’s also opportunity in uncertainty.
NOTE: I’m not talking about price-gouging opportunities (there was a bottle of Purell going for $79 at a small convenience store here in NYC).
If all your travel is canceled and your speaking gigs are disappearing like a bag of Sour Patch Kids in my cupboard, then use the extra time to write a book or go on a podcast tour. Make investments in the future.
Find ways you can serve the shifting needs of the marketplace. Which leads me to my next tip.
3) Invest in Customer Discovery
Set up conversations with people in your audience and marketplace to check in with their needs. Use that information to inform your decisions for the future when it comes to your content, marketing, and product offers. Empathy is a competitive advantage.
4) Show Up As a Servant Leader and Be Generous
Find a way to show up as a servant leader and be generous with our resources and support. I’m thinking of what companies like Loom and Techsmith are doing right now by offering free and discounted versions of tools to meet the rising numbers of remote workers.
It’s easy to go into survival mode, but service helps keep our focus outward as well and cultivates the feeling that we are all in this together. That, and it will be good for business in the long run. Win-win!
5) Consider Pausing Promotional Campaigns
This one might sound scary when you’re already worried about how your revenue might take a hit. But consider the optics of your ads showing up amid all the social media posts about everyone’s worries about politics, the economy, and public health.
You don’t have to stop sales and marketing altogether, but consider focusing on more personal outreach and promotion methods rather than running your social ad campaigns as usual.