Right now, we have a lot of challenges. As we know COVID-19 has made a significant change to practically every business around the world. Too often we focus on the negatives – the negatives are not helping. I appreciate you want to understand what is going on. We need to follow the news and understand we are all going through that in one way or another. But remember, this is a marathon, not a sprint.
And if you talk to marathon runners, they will tell you that they must vary their training on different days, different things, long runs, short runs, for training. They are constantly adding and adding and building to their end objective. And that is what we need to do. We need to revisit, review and refocus. This process will take some time, but we need to keep our eye on the prize, the objective. We are going to recession, we are in recession, and it is going to be a very deep recession; going to go down very quickly. However, most of the governments around the world are putting an awful lot of money. They are taking almost a war footing in terms of how they support the current economies. So yes, we will go down very sharp. But as soon as we hit the bottom, we will start to come back up. And by the end of 2020, we will start to see reasonable growth again. So, it is going to be tough, but it isn’t just about COVID-19 and the current period need to focus, we need to think about the rest of 2020.
We do these three things…..
I want you to revisit, not the products you sell, not the services you sell, but what it is you do, what are the values you have? What are the customers that you serve? What is it that you enable in their life if you are in construction or property management, do you build houses or own and rent houses anymore? No, you give people a place to work. You give people a place to live and feel safe right now.
If you are in software, you are keeping companies going. You are helping company has seen make changes for the better in a lot of cases. Let us be clear, other industries are going to suffer. But identify what it is you do not the products you sell, not the services yourself, but what it is that you do for your customers.
Understand what your core values are. What do you what do you stand for? What are the people who supply you What do your customers stand for? What are their values? How do you match your values to their values?
When you have revisited where you are today, you then should be able to identify what it is your customers and suppliers really need. Now, I suggest you do this in a write it down in list form. If you are good with mind maps, then produce a mind map. If you have never done or do not trust mind maps, maybe now’s a good time to learn a new skill. Do this over a period of days, put it is one side, come back to it. Constantly revisit what it is you do. And what it is you provide your customers, not the products or services you sell.
After a few days, take that document and review it. Add to it. Change it but keep your focus on what you do and what that means to your customers and your suppliers.
What do you do? What has changed today? What do your customers need that has changed today? What is different? And I do not mean, the world is in lock-down. It is not that kind of different. What is different about your customers? What is different about your company? What needs to be different about your products and services? What has changed in the message that you need to get out to people? How is your supply chain been affected? How have your customers been affected? How have your suppliers been affected? What do your customers need right now to review that review where your customers and suppliers are?
Let us be clear. This is not about selling. There are companies out there and they are customers out there and do people do still need to buy products or services. But if you go hard sell, you survive in the short term, but you will not survive in a long time because people will remember you as the person who maximised this or saw this as a as an opportunity in the wrong way. You need to help people. Work through your products and services and offering understand what it is that your customers need.
Work through your advertising. Review your social management, your social media is your content. What are your channels? What is the message you are trying to get through to refocus? Take that and then look at the outcomes. Is the company you are working for the same as the company had to three months ago?
I suspect there has been changes to the company. If you have staff, if you have teams, whether they’re furloughed, or whether working, that too is going to have a huge impact, but right now, I need you to Revisit, Review and Refocus where you are. Now it might only be a small change, but that small change may be significant. Understand what is happening in your world. This could then be what carries you through the current lock-down period and potentially will change for the future. But this is this is not a one-off exercise. I advise customers This is something you must do from time to time.
Revisit, Review, Refocus – That is your blueprint for right now. Do it again when we come out of lock-down, and when we start to return to normality – whatever normality is. That will be your Q3 and Q4 2020 blueprint. And that will dictate what happens to you coming out of recession. This is important stuff.
This is an opportunity for you to make a significant change to your business. It is a big change to address the current problems in your business today, caused not by yourself, but by other factors. But it is also an opportunity to change your business’ future.
Revisit what it is you do, what it is you stand for, who your customers are,
Review how that has changed. What does that mean for today? What does that mean for tomorrow, and again, do this exercise several times, and then Refocus. This is not about a wholesale change to your business. This may just be a very minor adjustment. It could be that you need to do something significant and then work out how to do that. But it is an exercise you need to go through.