Who would have thought one month ago that a virus could so drastically disrupt our marketplace. It has us washing our hands profusely, fist bumping instead of handshaking, and walking through airports and shopping malls just praying no one touches us.
If nothing else, this virus reminds us just how fragile our marketplace is, how much is out of our control, and how things can change on a moment’s notice. Even if you are in an industry that is strong right now, not being directly impacted, it is still a good time to sit back, take a breath and ask yourself, are you prepared, are you ready for massive disruption?
We are living in a time of constant change, a global market has opened up opportunity and new threats, and technology is constantly redesigning the marketplace. The one thing we can all agree on, it is probably the one thing we are all worried about, is what has made us successful to this point, what has grown our companies, is not going to be enough going forward. We need a different approach and a new style of leadership.
Today, we need a plan for the Corona Virus, because who knows how long this will impact our economy, and the level of change it will invoke. Here are:
5 Strategies To Help Your Sustain Your Business, Calm Your Team, and Move Beyond Corona
- Focus on What You Can Control – look to what you can control, and pretty much forget the rest. Oh yes, you need to keep an eye on what is happening with the virus, but do not obsess. There is nothing you can do about travel being closed to Europe, events being canceled or the press hyping up the dangers. Your energy is better spent focusing on your business and what you can control: helping your customers, looking for revenue opportunities, limiting expenses, and working with your team on finding new opportunities.
- Be Transparent – be as open as you can with your team right now. If this is impacting your business, even if you are worried it will, share that with them. Your team can handle tough news, they can handle challenges, what they can’t handle is the unknown. Over communicate is the right strategy right now and ensure what you know your team knows.
- Engage Your Team – after you share information with your team, ask them for their ideas and opinions. You need all hands-on deck right now, and everyone fully engaged. Remember, people support what they help create, and asking your team for their input will ensure you are tapping every resource you have at this critical time.
- Diversify Revenue – ask yourself if you can diversify revenue at all. Whether your income stream is compromised or not, it is still a good time to diversify. Can you offer some things online? Can your salespeople sell into different markets? Is there a new service you could be offering? It may take a while to get these revenue streams going, but now is a great time to plan.
- Create A Plan – and last but not least, get a plan if you do not have one. Corona will not be the last disruption we have to the marketplace, and you need to work with your team to create the strategy for situations like this. Remember, if you see change coming it is opportunity, ignore it and it will defeat you.
Change grows like kudzu in our marketplace today, and as a leader you have to be prepared. These strategies will help you get through this crisis and help you turn all of this uncertainty to your competitive advantage.
Meridith Elliott Powell, Keynote Speaker, Best-selling Author, and One of the Top 100 Sales Experts on LinkedIn is an award-winning leadership and sales expert. Meridith’s cutting-edge message, rooted in real-life examples and real-world knowledge will make your audience laugh and learn as she walks you through the sales and leadership strategies you need to succeed. Meridith Powell is one of the most sought after Sales Strategist and Leadership Experts! Book Meridith Powell today: https://bit.ly/2Vvm4XG