With any activity one endeavors to take on, there’s a strategy to it. There’s even a strategy to taking hits. It varies based on fighting style and situation, but it always boils down to two different tasks.
Strategy #1: Roll or intercept
You can either roll with the hit minimizing damage or intercept it creating no damage at all. In business, especially in this time period, we actually have to do both. If our business is to survive, we need to have a strategy in place on how we’re going to deal with the hits of life and this economy.
Rolling with It
When COVID hit we just had to roll with it. We had no choice. It came at us like a flurry of hits stunning and disorientating all of us.
At a certain point we had to accept the fact that it’s not going away. (As we can see now, with new cases skyrocketing.) So, we’re going to get hit, but we don’t have to take on the full force of it.
Map out a strategy
Therefore, you need to begin mapping out a strategy on how to survive the second wave. There’s a new dynamic coming this Fall with remote learning being a permanent thing for this school year.
Spending habits will change
If your main clients are parents, then you have to understand they’ll be struggling with figuring out how to essentially home school their kids and still work full time.
That’s going to affect their spending habits.
What strategy do you have in place to deal with that?
What shopping trends are going on now you can incorporate into your business?
This is a fight for our livelihood and future and we’re going to need to change things up and stop the blows from coming.
Strategy #2: Intercepting it
Once we’ve gotten tired of taking hits, it’s time to stop them from coming at all. Bruce Lee’s fighting style was based on that. He called it Jeet Kun Do, Way of the Intercepting Fist. Before the blow can land you strategically make certain moves to intercept their blow while making one of your own.
Stopping the damage
Let’s understand the principle here. How can you stop the damage COVID is taking on your business? I was in the midst of a specialized marketing campaign when COVID hit. When I followed up with potential clients, I heard the same thing over and over, “we’re not looking at anything new until this passes.” So, it made no sense to continue to the campaign because I’d be throwing money down the drain.
Using both strategies for the future of your business
At first my strategy was to ride out the storm and roll with it. But that wouldn’t hold up. So, I stopped the damage by shifting my strategy to primarily content marketing. This way people who are in need will reach out directly to me.
Being better prepared for the future
While your first strategy may have been a PPP or EDIL loan, that money will dry up. You have to devise a strategy to grow in a down economy. The best part about being successful in this task is that you’ll be better prepared to survive the next recession since they’re cyclical.
Roll with it and intercept the hits COVID-19 is making and win this fight for the future of your business. Until next time I wish you much success transforming your business into an amazing brand.
