One of the many distressing impacts of the past few months has been the inability to plan. Faced with an ongoing lack of certainty, we may defer planning of any kind … which can kick off a negative cycle of reduced motivation and poor productivity.
Yet, as states open up, extraordinary planning is critical for businesses to execute successfully and safely find their way to the other side. Out-of-the-box thinking — as well as grit and determination — are required to stay the course.
It’s almost June. How’s your business bottom line?
If it’s not where you hoped, it may be time to step back and reassess. Yes, Coronavirus has dealt many businesses a pretty serious blow, but it’s important to be honest: Were your results a bit sickly before the virus hit?
Start with some introspection. Have you been using this time for active learning and proactive sharing? Are you seeking creative solutions, developing fallback plans and deliberately innovating?
We’re sharing some best practices and inspiring stories of companies that made the most of this period of uncertainty — or have pivoted to respond to our changed landscape.
1. Maintain velocity to stay innovative
To stay ahead of the curve in today’s digital arena, swift — but informed — decision making is essential. Being able to discern critical data from erroneous information is a necessary skill of digital leaders. Think creatively, avoid analysis paralysis and trial your ideas. Who hasn’t been inspired by the stories of innovative company pivots?
2. Always deliver more than expected
No wonder Amazon’s business grew during the Coronavirus pandemic. Detailed, informative product listings, complete with robust customer reviews and a highly efficient ordering process. Despite the distribution challenges, they delivered nearly everything we needed while we hunkered down.
3. Work your hierarchy of needs
Take a lesson from entrepreneur and author Mike Michalowicz. Once you understand where your business is in that hierarchy, he notes, you can identify what needs immediate attention. Simply fix that one thing next, and your business will naturally and effortlessly level-up.
4. Make your passion your business
If your heart isn’t in it, your job will always feel like work. Perhaps this is the time for a fresh start. Inc. magazine contributor Christina DesMarias recommends finding the “fault lines” surrounding your passion, then exploring ways to merge what makes you happy with what makes you money.
5. Differentiate to justify your price
Competing exclusively on price is a slippery slope. Instead, differentiate your product from similar services with a compelling angle — a unique value proposition — that addresses the needs of a prospective customer. Consider how Zoom emerged center stage to solve the social distancing challenge.
6. Hire and develop a well-trained team
Challenging economy or not, employee retention requires an ongoing commitment. Invest in training and development and keep the lines of communication open to retained valued team members. Explore alternative resources, like contractors, to fulfill newly identified needs. And as you bring back employees, plan for their physical safety and emotional concerns as well.
7. Offer exemplary customer service to build customer loyalty
Make sure that every interaction with every customer is positive. As the leader, set an example by communicating well and being accessible to support your team. Also be visible online to build brand, authority and credibility. Read more from tech startup mentor Martin Zwilling in Entrepreneur Magazine.
8. Give to get
If there’s one remarkable business lesson that emerged during the pandemic, it’s the incredible power that can come with (temporarily) donating your service or product. An offer of free services or resources is a show of confidence that enables you to prove your value while building exposure. Case in point: The Lettering For Love project by artist Antea Amoroso.
Next steps: The future is now
Perhaps one or two of these examples sparked an idea for your business. Invest time and develop plans to jump-start your idea into reality and start the second half with renewed energy and focus. Even if you’re on board with all of the above, self-reflection is key. An honest look in the mirror can help identify blind spots, limiting beliefs or old-world thinking.
Ready to develop a plan for the second half of this year, but need a guiding hand? We’re happy to help. As always, a consultation is free.
This post was previously published on OnlineAmplify.com and has been revamped and updated for relevance.
