Triage: lean is king
This is perhaps one of the most important things you can do to ensure your business will be able to weather this uncertain time successfully.
By going through and triaging three critical areas, expenses, projects (external mostly, but internal too), and your team you will be able to get a very clear picture of what is essential and what you can pause or cancel.
In most cases with these three areas triaged (part of my free triage tool kit) I have helped my clients see how to reduce business friction and expenses up to almost 40%!
This becomes particularly important when being cash heavy and nimble will be the keys to coming through this lockdown.
Simplify your business so you can be as nimble and agile as possible
With this time being uncertain it is tempting to want to add things to your business to help you maintain (and hopefully increase revenues) but don’t fall victim to this trick.
This is the time to double down on simplicity and what was already working. It is not the time to add new unproven services, software, solutions, etc. to the mix. The only thing that will end up doing is complicating your business and slowing it down to an absolutely glacial level of paralysis. Exactly what your business does not need right now.
Find what is certain in your business (and your life for that matter) and see how you can grow it to bring more clarity and confidence to you and your clients/customers.
Engage with your warm audience
Loosely related to my point above. This is not the time to try to get cold leads and conversions.
This is the time to go to the people who already know, like, trust you and who you know you can serve to a remarkable degree – a win win if you will.
You can still talk to and engage with people outside your inner warm circle but my professional opinion would be that I would focus only a small percentage on them, while being tight like a laser delivering help and insight to the people you already know.
Create a win-win to continue generating revenue for you and your clients
This may be one of the most controversial components of my adjustment suggestions but stick with me.
Yes, it is an uncertain time. Yes, some people are out of work. Yes, some people have cut back spending. But, and this is an important but so lean in. There are still many people out there who are using this time to get more traction in their business, their life, their finances, etc. and they are looking for people who can help them.
So here’s my opinion on clients investing in services right now. If you have a product or service that will truly help them with their business, goals, fears, life, etc. then do not feel guilty saying I can help you.
Really dig into your current and past clients (and your current audience). What critical problem do they need solved now that you know beyond a shadow of a doubt that you can help with?
Create a win – win for them and you, I promise it will be well worth it on both sides!
Be flexible with how you offer the above to your people
To my point above. You shouldn’t have to drastically change much in your business to serve your people now, but you may need to be more flexible in your offer.
Consider different terms, add more value, maybe even adjust price or create a hybrid service or offering that fits their needs right now, and also sets them up for momentum P.C. (post corona)
Last but not least, remember to breathe and manage your emotions, fears, and thoughts so you can be a strong leader for your business and your team!
It is a crazy time, but your business and your life depend on you mastering your thoughts and not treating this like a vacation or a drill.
If you are waiting for things to go back to normal, let this be a wake up call for you. Things will never be like they were B.C. There will be a new normal and the sooner you recognize that and arm your business with a battle plan to ride this new wave the better!
You may have already successfully triaged your business, but if not, please take advantage of my business Triage Tool Kit. TTK is 4 simple spreadsheets that will give you massive clarity around what is important right now.
I am committed to helping as many businesses not only weather this storm, but come out on the other side stronger, leaner, and more agile which is why I brought these spreadsheets out of my client-only vault to gift to you.
So tell me… are you making any other adjustments right now? Share below and let me know!
I’d love to hear how things are going for you and support you in any way I can.