How is the current pandemic affecting your business?
Ok so I am writing this on 4th April 2020 which means most of the world is in the stages of some form of lockdown or isolation brought on by the spread of corona virus, COV-19 or whatever you know it as. Just to make sure when you read this you understand the context to which it is written.
The world as we know it has changed. When the world goes into lockdown the jobs which are seen as essential are those viewed as low skilled and most definitely lower paid. These are the nurses, hospital staff, care home staff as well as delivery drivers, shop workers etc…
In the world of entrepreneurship there appears to be three ways in which business owners are responding to the impact of this pandemic on their business. Most of them appear to fall into the extremes of the spectrum and then there are those few who are going to thrive right now just differently but out of the back of this they will up-level and have created a new wave of clients and tribe members.
So which one are you?
Have you reverted to the ostrich position?
I have seen many business owners who have made the decision that no one is buying anything right now and these aren’t businesses that are forced to close. I have seen therapists, coaches and even course creators who have decided that no one is buying.
Only this week I have seen posts in Facebook Groups where people are declaring how much money they have invested since they have been self isolated. “I have spent £9k on 5 courses to see me through the next few weeks” or “I have invested $60k in a mastermind to up-level my business”. These are just two of the real statements I read in groups today. It is true that many people are choosing not to spend but there are always people who choose not to spend so it’s probably not that massively different. In fact, I have seen a rise of people asking what can they invest in right now to help them step up!
Are you getting sucked into the fear and selling from a place of panic!
At the opposite end of the sales spectrum you have those who have focused only on the fear and who are tapping into this to sell. Now I am not passing judgement here. I think many of those I have seen are not trying to sell out of fear but have used the pandemic in their copywriting and been judged for it.
Yes the time is right for a lot of people to start thinking about online incomes. This is a time when those who are thriving are those who can either operate fully online or who are bringing additional online solutions into their business however, there are those whose business is driven by playing into the fear. How many times have you seen toilet rolls for sale at $30-$40 or people selling homemade masks which may be slightly helpful but are not made of the same surgical materials that they should be. And they are being judged for this, there have been so many negative comments made on posts from people selling from fear.
I am seeing so many local and online businesses right now who are thriving because they have not put their head in the sand nor have they reverted to selling into the fear or from fear. They have stopped, looked, listened and figured out how to PIVOT their business to best serve their tribe, bring in new clients and show that by tapping into what people need that they can make a difference and money!
A real example of this in a non online way is local businesses coming together to serve their communities. Where I live pubs have closed but one of the pubs has come together with the butchers, greengrocers and local bakery to deliver fresh meals to people as well as fresh food boxes with veg, meats and bread. The owners have looked at what people are missing and giving them reassurance that they can step in and assist right now. They are creating that ripple affect and helping other local businesses and helping the community too!
As entrepreneurs they have pivoted and I for one will remember once everything is back to normal and hope to become a loyal customer not just now!
What about online? No one is buying online?
Again, that’s not true! Like I mentioned earlier, there are a lot of people who are wanting to use this time right now to learn, to grow and to maybe even create their own online businesses. We always love an underdog story and I predict there will be many an underdog rising up during this time!
Its time to figure out your purpose, its time to start new daily habits that serve your highest self and come out of this a stronger, more resilient and confident business owner. Even if you are struggling right now, this too shall pass. What can you do right now to build a better business now or when this is finished!
Thank you for taking the time to read this blog, check out others I have written and if you are already a purpose driven entrepreneur or want to start your own business then join my Facebook group or check out my course which was launched in January spookily called ‘The Time is Now’!