Perfect Time For a Fresh Start
Written by Dave Lorenzo on April 20, 2020 / Inside BS Podcast
We are currently facing challenging times. Our personal safety is threatened by something we can’t see or hear. The only way to fight back against it is to cloister ourselves away in our homes.
The situation becomes even more challenging because it continues to exact a financial toll. Many businesses cannot operate for safety reasons. Gathering people in groups is not wise as it risks the health of everyone involved. This means all service businesses are closed. Most Product distribution businesses are delivering but cannot operate in a familiar retail format. Companies that can provide services from a remote location – like law firms, accounting, and engineering firms and consulting firms are stuck because their clients are conserving cash – unsure of when their clients will come roaring back.
By every measure, this situation looks bleak, but that’s only on the surface.
If you dig deeper, you see opportunity.
Suspend your disbelief at that statement – for a moment – and follow along with me.
The entire world is in the same situation, possibly for the first time. Everyone is fighting the same virus. Everyone is facing the same economic challenge. That playing field is level.
Some of us may have more access to aid (in the form of financial resources – loans, government assistance, etc.) than others, but we all have access to the same opportunity. The only tool you need to take advantage of the situation and aggressively begin to rebuild your business is your attitude. That’s it. If you focus and relentlessly offer enough value to enough people, you’ll get through this tough time and come out the other side with a business that is stronger than it was before.
That’s the key.
To use this crisis, use this terrible situation to rebuild your business in a form that will make it more durable and more resilient. It won’t be what it was in February 2020. It can’t be. That world is gone. Everything has changed. Success now belongs to the companies that are nimble and can grow and evolve to serve others in these unsettled times.
Here are the five things you can do to give your business a fresh start:
One: Understand your clients’ needs: Practical and Emotional
What does your client (ideal in the aggregate) need to continue to operate, survive, or grow? If it is a physical product, figure out how you can provide it, procure it, or finance it. If it is a skill, figure out how you can teach it to him, be a source for it, or recruit it for him.
Emotional needs require more nuance. You need to read your client and help him understand that he needs you for that support. You need to quantify that value. Most people will sacrifice their mental health in tough times. Convince the client he shouldn’t. Why? Because that puts everything at risk.
Two: Communicate Your Value Proposition Frequently
Now that you understand the needs of your ideal clients, you need to communicate with the people who look like those clients. As many of them as you can. En mass. Broadcast your message with laser-like precision to that audience as often as possible. “I can help you. Let me help you.”
Make a free offer of something of value to your prospective client. This could be a report that outlines how the client can achieve a goal. It can be a program or course designed to educate the client’s team on new skills. It can be a service designed to get the client up and running in a new area. The offer of this free service makes the possibility of your solution real.
Four: Be Easy To Work With
Explain how you’d like to help the client in return for financial compensation. Show a return on investment. Offer payment plans and installment agreements. Listen. Be a friend as well as a service provider. Do business profitably on the client’s terms.
Five: Continuously Innovate
Your first attempt at this may not be successful. You may not select the correct product or service. It may take a while for the client to recognize the value, or the client may hold on to his finances tightly because he is financially insecure. Keep listening. Keep looking for the right product/service to help your clients. Keep making offers. Eventually, you will find the right opportunity.
This formula worked for me after September 11, 2001. It worked during the financial crisis of 2008, 2009, 2010.
We don’t know what the future has in store for us with this crisis, but we do know that people need help, and they will invest in you if they believe you can help them.
The key is to focus on value delivery and pursue it relentlessly. Don’t give up. Early on, most of your days will be filled with people saying, “NO.” But just one “YES” will help keep the lights on in your office or your home.
Eventually, you’ll have days when you string a few “Yeses” together, and you’ll begin to believe you are on the right track.
For now, you need to have a positive attitude. You need to trust in this process, and when you do, you know you’ll be building a client-centric business that will survive anything.
If you’d like more help, guidance, and support, I am here for you.
These daily sessions are free, but I offer an option to work with me directly. During this crisis, I’m offering an opportunity to join my Inner Circle group at the VIP level for the entry-level investment. It’s only $147 per month – which makes it affordable – and the return on investment will be – well, it ‘s rebuilding your business. How valuable is that?
You can find out more ability this special offer by following this link:
Call (786) 436-1986