I won’t pretend I fully understand your problem. Nor do I have your solution. Won’t even try to say that your company will make it. That is idiotic and would be a lie.
As of now, quite a bit is uncertain. But I can share some successful actions.
We are on the phone with lots of people – clients, partners, friends and strangers who are trying to fix things for the better.
Here are some successful actions I have observed in others.
1 – Decide that all will be ok.
Look it can be bad. But you have to remain positive. Remember after every crisis there is a BOOM.
A good friend of mine gave me a tip to look at the worst-case-scenario. How much money and business will be lost? Is your immediate life really in danger? Will the world end tomorrow? Is a bomb going to drop here? Be honest.
Is it something you can confront and live with? Well if so, then everything will be ok.
2 – Stop dealing with people who are too afraid and negative
It’s ok to be afraid here and there. But you have to stay focused. People who are constantly worry in your environment will result in you feeling worried. There are a lot of factual informative documents/videos available on the Corona Virus which you can send to these people to help.
You are the one in the driver´s seat. Either people will follow you to better terrain or you have to drop them until you have things sorted out.
Deal with winners!
In these times you are only going to get ahead, if you spend your time with winners. Who are these winners? These people have few problems in this crisis OR they are actively creating better conditions than they were in before.
3 – Focus on the future.
Most people are working to save cash flow, reduce costs and save clients. Now that is being busy for today. Today is mostly bad nowadays. We need to ensure the future looks better.
Quite a few companies are going to struggle and even fail. Some great companies who, a few weeks ago, were doing amazingly, are soon running out of cash. So, you need to focus on more jobs, clients and partnerships for the future.
4 – Promote: inform the world that you still exist.
Tell them you are still in business and follow these steps:
- Find your target audiences who can buy your services
- Find out what they need and want
- Present it
- Deliver it.
Even if you are in great shape. Right now, you can get some really good deals on advertising products. Plus, there are so many great talents out there looking for work.
To top it off – it helps improve the morale in the company because YOU are creating.
If you lost a complete market, you might have to get inventive and create a new business area to make some money.
5 – Help others and make new friends
There are lots of frantic calls taking place right now. Companies trying to desperately save their sales, get more income and so on.
They are mostly spreading panic, drama and pleading for help.
Invest your time and help others. Everyone needs some kind of help right now. It is much easier to do something for others.
Add to their power and they will help you too. Plus, it feels good.
6 – Economize and save money
Now I know I said earlier that you should not focus on saving money, but it has to be done.
It is just the sequence that is important. Your first job in a state of declining income, deals or of general problems is to advertise and create the future.
After that you will need to economize. Increase cash and cut unnecessary costs.
7 – Change the operating basis
The main thing I have learnt during these difficult days is that you have to keep your business streamlined. Unless you are well organized in all parts of the business, you will have difficulties.
Know that you somehow failed to put a stable company with enough reserves to survive such times or that your income was overly reliant on just one service, market or client.
Now it is time to rectify that.
For me this means, to get more active and confront the areas I was weak in.
8 – Be disciplined.
I read a great post from Grant Cardone – “In times of crisis, there are many factors you can’t control. You have to make sure you keep your discipline in those areas you can control. Amount of sleep you get, what you eat. How you speak to your friends. Sports and education.”
What can you control? What can you do?