Are you hesitating to promote your products or reach out to clients due to the financial uncertainty in the world right now?
I am writing this as we face the consequences of the coronavirus pandemic, including global recession. It is a very strange time for all of us, and it is affecting so many people in different ways.
But this is not the time to quit – and I am going to share with you three big reasons why this is a critical time to commit to your business.
This blog article is a summary of the related podcast episode.
One of the things that worries me is that I am seeing many small, location independent businesses holding back. I can understand this – this situation is so overwhelming. Many of you are struggling with children at home, partners working from home.
It might also feel really uncomfortable to be selling right now. You may feel slimy to be marketing your services when so many people are struggling in their businesses. You may be feeling that you need to lockdown, and stay quiet until things calm down.
It is so important to fight this mindset. This is the exact opposite of what you need to do right now.
It is important for you to keep focused on your business, and even to keep going with your plans to start your business – right now!
I am going to give you three important reasons to keep going in these challenging times. Understanding these reasons will make it so much easier for you to push your business forward. I also hope that these reasons will motivate and encourage you to sell, and grow your business.
This is the time to be fully committed to your business. This is not the time to pause.
Here are three reasons why it is so urgent and important to focus on your business right now.
1. You have a role to play in the economic recovery
If you give up on your business now, or stop selling, you are not only putting your own business recovery in jeopardy, you are putting the economy at risk. In a crisis, we need to step up and show up to support our economy. Imagine what happens if we all take our focus off our business? If we all stop, we all contribute to make this hard situation worse. This is the time to make an impact, to support your clients and to share your gifts with those who need you. You may need to adjust and learn to do it properly but you can do it.
And if you thought your business didn’t matter or wasn’t important, this is the time to change the mindset. Your revenue matters and your business matters.
In these hard times, we have to adapt, to build resilience and fight forward. You can contribute but you need to have a sense of urgency. And taking care of yourself is so much a part of this – there are so many challenges right now. We are not at war but we can be warriors, fighting to make this situation better.
The key to us recovering and moving forward from this crisis is not to quit now, not to give up but to find ways to adapt, to move forward and to continue to do business.
Right now, your business matters more than ever. No matter how small or large, your business is going to help us all rise if you commit to being part of our recovery. I have been particularly inspired by expat entrepreneurs who are responding to uncertainty about their partners’ income by really committing and working harder in their business – they are rising to the challenge in the most amazing way.
To keep moving you need to embrace this mindset. It will help you focus and find the energy to go on.
2. There are still people who want and need to buy
Not everyone is going to be immediately affected by this economic crisis. In fact, new global research from Kantar found that only 8% of consumers think should brands should stop advertising due to the coronavirus pandemic. There are still people who feel that companies should keep selling.
If you are holding back from selling and marketing right now because you feel slimy or that it is not politically correct to be selling right now, you need to challenge your assumptions. That scarcity mindset is so dangerous to the whole economy!
And, you could be missing an opportunity to shine at a time when your potential customers really need you!
However, Kantar’s study also revealed that consumers have some high expectations of business right now. 78% felt brands should help them in their daily lives, 75% want brands to inform them about what they’re doing and 74% think that companies should not exploit the current situation.
So we need to continue to promote, to sell and to be economically active but be so mindful about how we do these things. You need to do these things in a way that improves your relationship with existing clients and even attracts new ones.
3. There are new opportunities and needs emerging
If you have a portable or location independent business, you are already ahead! So many people are struggling with working from home, working with remote clients and colleagues and grappling with technology – all things that you are already an expert at doing! Right now, this is a huge advantage.
Think about how this might open opportunities for you – you are ready and prepared to respond as your clients’ needs change.
I am also seeing businesses grow – yoga and health coaches who have been location-dependent are now growing by pivoting to offer online opportunities. This is the time fo you to think about how you can adjust your business to better serve the changing need of your current clients, and to meet the new needs of potential clients.
As we all work and live at home, so many new needs are emerging. There are still opportunities out there. Now is the time to brainstorm, think creatively and focus on delivering for your existing and future clients.
There are still opportunities to grow your business, and your revenue for yourself and your family. And boost our economic recovery at the same time.
I am constantly reminded of this great quote from Albert Einstein.
In the mist of every crisis lies great opportunity.
Let’s find a way to make this work for your business. Even if you are super busy and challenged by your situation, find a way to commit to your business and make it happen.
Do you want to know more about how to market and sell in times of recession? Join me for a special webinar.