Even BAD economies can be good for business.
Truth bomb: Some businesses THRIVED during the Pandemic!
When it comes to today’s climate, some businesses are flourishing amidst a global pandemic while others just flop.
It must be luck of the draw, right? Nope. It’s how you shift your focus.
When the economy’s in a slump, it’s the perfect time to innovate and strategize your next move. With the right mindset, you can achieve your financial goals regardless of what the market’s doing.
Here are 3 key factors that help businesses thrive:
1 – Find the opportunity in the problem.
No matter what industry you are in, challenging times create unique opportunities — if you can tune your focus to see them. With millions of people staying at home, online content, social audio and podcasts surged. Those of us that tapped into this industry surge found a goldmine of opportunity.
A key question to ask yourself (or your team) is this:
- What problem can I solve right now, that my offerings are unique designed to solve?
- What need will emerge 30, 60 or even 90 days from now? Can I re-position my offerings to serve that need as it emerges?
- What other businesses are thriving during this situation and is there a way to partner up or collaborate with them?
2 – Willingness to pivot.
Yep, sometimes you have to change direction and ride the wave that is presenting itself. For instance, several of my friends who are paid keynote speakers and emcees found themselves quickly out of work in March of 2020. Those that tapped into virtual events experienced MORE revenue in the last year (without all the costly travel.) A pivot is a healthy choice IF that change of direction lines you up with a long-term success that is aligned with your growth goals.
For instance, will this current change of focus help you line up with new markets or additional offerings that expands your profit potential.
3 – Get relevant.
When everything around you is changing, make sure you have a relevant message in front of your audience. A changing industry means buying behavior changes too. If you want to create a revenue rush, figure out what your audience needs NOW and build a messaging bridge to attract attention, create desire and invite them to explore your solutions.
Messaging can make …or break…the success of a business change so if you want to stay relevant when times are a changin’ — do the research to find out what’s keeping your ideal clients up at night.
Just remember this…you can create your own economy, no matter what’s happening around you!
Here’s a bonus tip:
4 – Change Your Mindset.
Nothing changes on the outside until you change your internal dialogue about a “problem.” Choose to see possibility. Choose to be the person who thrives. Choose to be like water and flow around the obstacles to arrive at your desired outcome. Our thoughts have a huge impact on how resourceful we are during challenging times. One thing I always turn to when the economy gets grim is collaboration.
Once a year I curate an exclusive group of high vibe, relevant experts to be a part of my Create Your Own Economy Giveaway. Its a 14 day opportunity to build your toolkit full of proven resources that help YOU make it rain “on demand.”
If you’re fresh out of inspiration or running low on rocket fuel, don’t worry! You don’t have to figure it all out on your own. Tap into the collective wisdom of others who confidently go into the world and create any level of success they desire!
Join in here and we’ll let you know when we open the doors!