Jim Connolly Marketing

How to thrive in the current crisis

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Marketing success

Photo: Shutterstock.

There are small business owners reading this, who will absolutely thrive in 2020.

Yes. Really.

They will survey the current crisis and identify improved ways to operate. They will look for opportunities to radically increase their value to the marketplace, based on the landscape ahead. They will adapt to the new needs of the people they serve.

And they’ll not only grow exponentially, they will become more useful, more valued and more cherished by their marketplace than ever before.

The reason this opportunity exists, is that most small business owners won’t do any of that.

They’ll wait. They’ll sit tight. They’ll keep doing what they always do and hope things get better, before they run out of time, money or credit. Just like others did in the 2007/8 financial crisis.

It’s interesting to see how differently small business owners act, when faced with the same situation. They tend to fit into one of two broad groups. Some will thrive. Some will freeze.

  • Thriving: Those who thrive will do so by adapting their approach and helping others with the crisis we face. The thrive strategy is a core focus of my work with clients right now. It should be your focus too.
  • Freezing: Those who freeze don’t have a strategy. Things are moving fast. So failing to adapt isn’t even an option… let alone a viable business strategy.

Thriving: Where to begin?

Look at the services you provide and the people you serve, not based on their usual needs, but their needs moving forward.

As I learned from working on thrive strategies with small business owners recently, there’s no one-size-fits-all approach. Strategies that are spectacularly effective for some will be ineffective for others. I’ve needed to piece together individual strategies with my clients.

A useful place to start, is to check your range of services, opening hours, payment methods and client acquisition strategies. Also, check your marketing messages and advertising, etc. What worked fine until now may need to be replaced with more suitable alternatives.

Listen intently to your clients and the marketplace you serve. And keep listening. Things are moving fast and their needs will change and so will the opportunities around you. Be prepared to adapt because it isn’t going to be ‘business as usual’ for a while.

However, it’s your business.

You’re in control.

The winds will certainly change, but you set your own sail.

So don’t freeze.

Because you can thrive if you choose to.

Help during a crisis

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helping crisis

One thing everyone reading this has in common today, is that our countries and local communities are facing a health crisis. Some more than others.

Our primary focus is to look after our loved ones. But once they are cared for, we should consider helping our customers, contacts and wider marketplace.

How?

Back in the financial crisis of 2008, I sent a note to all my contacts. Something like; “I know times are tough right now. If there’s anything I can help you with, just let me know”. A number of them decided to do the same. A small ripple of cooperation developed. People helping people. Friendships were formed, which are still strong to this day.

Another ripple from that note was the launch of Jim’s Marketing Blog. I wanted to give free information to as many small business owners as possible, to help them build stronger businesses.

The 2008 financial crisis passed.

And this crisis will pass, too. They always do.

Until then, those of us in a position to provide help can become part of the solution. Even in a small way. Little actions, like a brief note to your contacts, can create a ripple effect.

We can make a difference. We can help make things better.

Finally my friend, I hope you and those you love are well and that you stay well.

Mistakes, birthdays and billionaires

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marketing, think different

Photo: Shutterstock.

I have an idea to share with you today, from a weird combination of sources. It involves mistakes, birthdays and billionaires.

My friend Amy has a landmark birthday today. One of those birthdays with a zero at the end. She said she was now “officially old” and that it’s the first time she’s not felt like celebrating a birthday.

I offered her another way to look at things, as she was clearly feeling down.

  • Imagine you’re just a penny away from becoming a billionaire. Nothing really changes on the day you earn that final penny. You were already pretty-much a billionaire and probably extremely wealthy for decades. You may feel different now you have that extra penny, but you’re just a penny richer than the day before. That’s all.
  • Landmark birthdays work the same way. You may feel very different. In reality, you’re just a day older than yesterday. That’s all.

What does this kind of thinking have to do with business?

Every year in business, you make countless decisions, have thousands of conversations, give numerous presentations and send lots of proposals… it’s an almost endless stream of activity.

  • When you make a poor decision, it’s just one decision.
  • When you have an unproductive conversation, it’s just one conversation.
  • When your proposal is rejected, it’s just one proposal.
  • When a meeting doesn’t go the way you want it to, it’s just one meeting.

In the same way as the final penny doesn’t make you rich, and the day your age has a zero on the end doesn’t make you old, a negative commercial outcome must be seen in context.

  • When you make a poor decision, learn from it and make better future decisions.
  • When you have an unproductive conversation, unpack it and make the next one more productive.
  • When your proposal is rejected, look for ways to make the next one stronger.
  • When a meeting doesn’t go the way you want it to, review what happened and improve.

A recent failure does not define us as failures. The last penny doesn’t make us rich. And I hope Amy now has a very happy 20th birthday.

Waking up?

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marketing get motivated

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A reader emailed me earlier with an observation. She explained that even though it’s only February, it’s already starting to look a lot like 2019 for her business. And 2019 was pretty similar to 2018.

She’s frustrated with her progress. And she’s not alone. I always hear similar things around this time of year.

On one level, the answer to her problem is simple. No. It’s extremely simple. Because we know exactly why this happens and exactly what to do.

On another level, it’s a very hard problem to crack. Allow me to explain why PLUS some ideas to overcome it!

Cause and effect

Like everything in life, business follows the law of cause and effect.

In short: The law of cause and effect states that for every effect there is a definite cause. Likewise for every cause, there is a definite effect.

So, if a business owner wants better results (effects), they need to take better actions (causes). Obviously, if we carry on doing things the same old way, we’ll get the same old results. Old ways won’t open new doors.

It’s tricky

Knowing why business owners get stuck in a rut is one thing. But actually resolving the situation requires a mindset shift.

And that’s not easy. Not easy at all!

This is especially the case when:

  1. The business owner has developed a level of acceptance with their situation. They start to self-identify as having reached their potential; consciously or unconsciously. This is pretty common.
  2. The business owner has a degree of comfort, which makes it hard to motivate themselves to leave their comfort zone and improve things. Sure, they’re not where they want to be, but they’re kind of okay. This is easily the biggest cause of unfulfilled potential.

What should a business owner do, if they identify with one of those mindsets?

They should wait!

Yes. Wait. Allow me to explain.

Wait for the wake up call

Entrepreneurs will motivate themselves to do what’s required, as soon as they realise they’re coasting or in their comfort zone. However, real entrepreneurs are just a tiny fraction of small business owners.

What tends to happen, is that something unexpected occurs. Something that creates the motivation for the small business owner to act. A wake up call.

Common examples I see include.

  • They lose a major client or source of income.
  • They have a birthday with a zero at the end and realise they’re wasting time.
  • An agile competitor arrives and starts to target their best clients.
  • They were in a marriage / long-term relationship that’s recently ended.
  • They discover they’re not going to be able to retire with the quality of life or security they hoped for, or retire as soon as they thought.
  • A family member or old friend reminds them that they used to have much bigger dreams.
  • They just get tired of making-do and want something more from work (and life).

The key to our success is not whether we get wake up calls or not. We all get them. And we get them fairly regularly.

Our success depends on our decision: to either hit the snooze button… or wake up.

Note – I explain the entrepreneurial mindset in a little more detail here.

So, what’s inside the box?

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marketing mystery

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Today, I have something different for you. It’s a simple, yet powerful technique I often share with business owners. By the way, this leads on nicely from my previous post. You can read it here.

I want you to imagine for a moment that you’re sitting with a potential client or customer. Between you is a table. And on that table, you place a box.

  1. You explain that the box contains something of truly great value.
  2. You tell them that other people are using it, and they love it so much that they recommend it to their friends.
  3. You then tell them that once they have it, they’ll wonder how they managed without it.
  4. And then you explain that the price for what’s in the box, is way below what it’s worth.

Finally, you ask them, “Would you like to see what’s inside the box?”

Their eyes widen as they lean forward and say, “Yes please!”

This begs the question: What’s inside the box?

As a business owner, your task is to develop a product or service for your clients, which fits inside that box. The only rule is that in order for it to fit, your product or service needs to be able to deliver on the 4 points above.

Why bother?

It changes everything. If you take the time to get it right, you’ll find yourself speaking with highly motivated potential clients. People will need very little encouragement to hire you or buy from you. Plus, your existing clients will be eagerly telling their friends and contacts about your services and your business.

Make no mistake, this process requires creative thinking. And it takes guts, too. Why? Because whatever you decide to place in the box, will by default, be different from what your competitors are doing. And it takes courage to stand out, to zig when everyone else zags.

Is it worth it?

In my experience, (both with my client’s businesses and my own) the answer is a resounding ‘yes’. It’s easier, more profitable and far less stressful to have products or services that pretty-much sell themselves.

Exciting times ahead

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marketing finish

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Their targets are in place.

Their deadlines are set.

Their research is done.

And so they start doing the work.

Exciting times ahead!

Well, maybe

That’s because anyone can get started on a project. And pretty-much EVERYONE does! After all, it’s easy. However, despite so many business owners starting these inspiring projects, as we know, very few achieve meaningful success.

Of course, that’s because getting started is easy and success doesn’t come to those who start.

No.

Success comes to those who start… and then.

I regularly speak with business owners, who are excited about a great, new idea they have. I speak with them 6 months later and they’re still excited. Only this time it’s a different, new idea.

Their previous idea was dropped, as their initial excitement was replaced with the reality of the work required, to bring their idea to fruition. So now they’re excited about their new… new idea. And in 6 months time it will be their new, new, new idea that has their attention.

Here’s the thing: The clock is ticking. And because they never complete what they started, their butt is still on the start line. Years are passing by. With little meaningful progress.

What’s the lesson for us here?

Before you start a business project, I recommend you make a commitment. A commitment to do whatever is required to cross the finish line. A commitment to embrace the cold light of day, which comes after the initial hoopla has stopped.

Because ultimately my friend, our success is determined by the things we start, stick with and finish. Not the number of new things we start.