If you were to ask me “do I see a change in Business”?, I would have to say yes.
Business as I knew it before Covid just does not exist anymore.
I can’t say that necessarily is a bad thing. It’s just different. After all, change is mostly good right?
I find my clients to be more cautious in their purchases, more in tune to their cost and more thirsty for Education. I also find my clients to be very frightened of the future.
There is also somewhat of an “out of body experience”. It’s like I’m standing in a room asking myself “what the heck just happened”. Then I realize, it is still happening.
One of the things that is so bizarre about this past year, we are all in the same boat.
We have all experienced either physical or mental distress.
We are all a part of this experience which is so new to us, that when we look for answers, we realize we are ALL looking for answers.
The problem is, does any of us have the answers? Does any of us really know what the future holds, IF and when will things truly get better and when if ever, we will get back to normal.
I believe we will get back to normal……yet it will be a normal we are not used to, it will be a new normal.
I consider myself very fortunate. The dynamics of my Business, the venue of my Business (for the most part) was in position to survive.
- I already offered PPE products to my clients
- I positioned myself financially to survive a hardship
Although I never expected in a million years hardship would be a pandemic, none the less I was happy to know my financial security was strong when the pandemic did hit.
Don’t get me wrong, it was and still is a struggle. Being financially secure doesn’t last forever. I was secure enough to last through a few months, however the survival of my Business was and is totally dependent on new Business growth.
So when I’m asked by my clients how they can continue to grow in their Business after Covid……I first think about what am “I” doing and then I point out the basics.
- Re-evaluate your Business practices. Have you learned anything from this past year? Manage and save your monies to survive up to at least 6 months. Your rent, utilities, your common bills like credit cards, auto loans, Business loans etc. And, of course, food. Know what they are and work to save that $$$ amount equivalent to 6 months.
- Know what your assets are and let the rest go. Is something you are doing just spinning your wheels? Let it go. Is something you are doing making you lose money? Let it go. Trim down or as I always said….get down to the skinny.
These two(2) basic Business savvy actions can and will take a whole lot of stress off you during trying times.
How DO we build our Businesses back after losing clients to fear or death?
It’s a very valid question and the answers seem so simple. They just have to be acted upon.
Re-evaluate your Business structure- if there is ever a time to look at your Business processes, it’s now!
- Are you happy with your team
- Are you content with your venue
- Are you satisfied with your pricing
- Most important: are you happy with what you do?
As insensitive it may sound, it does take a tragedy for people to take action. If downsizing your team or having to fire dead weight or a negative nanny has been going through your mind. Now is the time to do it. The reality being, neither of these actions have a “good” time to be done.
On the other hand, if you do have a great team and you want to make sure all of them can survive through tragedy, share everything with them. Be honest and work together as a “team” to make things work.
One of the most admirable things I witnessed through these difficult times is how Kelly, the owner of Life of Riley Salon Supply treated his entire team through this whole ordeal. He was open and honest and he helped in getting them resources for their survival. In turn, being the amazing team they are, they adjusted to the new norm at the time and they did what needed to be done in an effort to keep their jobs and keep the business going.
It is also a good time to review what is on your venue….in conjunction with evaluating your price structure.
- Do you offer services you NEVER do?
- Do you offer services at too low of a cost?
Our entire world has been affected by pricing, one way or another. Our dependency on out of the Country raw materials have caused shortages, unavailability and yes, price increases.
We can’t continue forging forward with yesteryears pricing…..IF we want to survive.
It’s a brutal position to be in. Re-evaluating your venue, your pricing structure needs to be done almost monthly anymore. There is just too much uncertaintity.
Being happy is so important. We all know this, we just don’t act upon it…..mostly.
I have spoken with and witnessed on social media, the hundreds of Technicians who left where they were to either move themselves into their own private environment, open shop in their homes or legit close up and pursue another career.
The happiness that comes from these kinds of moves can not be bought. Most of whom I spoke with had been thinking about it for “years”. To me, this is so sad. To be unhappy in living life for so many years is torturous. I know the feeling….been there, done that.
However, the strength and the courage it takes for someone to make a big move as many did, is truly inspirational.
Now that we have done our complete evaluation, adjusted where needed, made our changes….what happens next?
The ole adage “build and they will come” isn’t reality. How do we get clients back in the door, build back our Businesses and thrive after COVID?
The 3 “P’s”
- Persistence is key when it comes to everything. It doesn’t have to be aggressive persistence, it does have to be constant. We have to constantly market, we have to constantly promote, we have to constantly be looking and working towards the new next and exciting. Why? Clients love excitement, they love new.
- Positivity is important. The glass is half full compared to being half empty is the perfect analogy. Yes, Business may be slow, however….you are still in Business. Positivity exudes delight. It’s felt, it’s heard and it’s admired.
- Power is invigorating. I don’t mean the power to be in charge. I’m talking about the power to have control of who you are, what you do and where you want to go.
So, when I’m asked “how do I keep my Business thriving during COVID, or how do I build my Business back after COVID”, I ask one(1) question. “Do you want to?”
If you truly want to, you will. There is no one(1) concrete answer. However, the power of the three(3) “P’s” is certainly a good start!