Photo: Shutterstock.

I wrote recently that there are many, many businesses that should be thriving right now, rather than struggling. Your response was huge. Many of you asked me to share more of the thrive strategies I work on with my clients. So, that’s what today’s post is all about. I hope you find it both useful and eye-opening.

Let’s go.

The mass market right under your nose

Everyone is experiencing problems today, which they couldn’t have foreseen in January.

Let that sink in for a moment: EVERYBODY is dealing with one or more unexpected problems. That includes your clients, your marketplace and the people who live next door. They all need solutions to whatever problems they’re currently facing. And the bigger their problem, the more valuable the solution is. Hold that thought for a moment.

The thing about problems is that they lead to commercial opportunities.

For example, the problem of vermin infesting people’s property, led to the pest control industry. The problem of waiting too long for hot food on the go, led to the fast food industry and the problem of criminality, led to the legal profession. These multi billion dollar industries couldn’t exist without the problems they solve.

So, no problem = no opportunity.

Today, with an unprecedented surge in problems, there’s an equally unprecedented surge in opportunities; some of which you and your business can solve.

This amazing opportunity is easy to miss, if you allow yourself to dwell on, and worry about, your own problems. The key is to focus on how you can grow your business and create additional streams of high-profit income, by solving other people’s problems.

You and your business

Think for a moment about the capabilities of your business. I’m not talking about the range of services you provide. I’m talking about the range of skills and assets you have.

Then look at the problems your clients, prospective clients and wider marketplace are struggling with right now. How can your combined capabilities and experience be applied, in order to create a solution?

For example, at the start of February, I didn’t even provide a thrive strategy service. Today, it accounts for the vast majority of my work. That’s because it was developed as the solution, to the business problem of growing successfully during today’s unprecedented economy.

Look around you for problems to solve. There are many. Some are extremely pressing. And every one of them, which is within your capabilities, has the potential to help others… and help you and your business to thrive, at the very same time.

Note: At the moment, my thrive strategy service is only available to my clients and former clients.

Photo: Shutterstock.

I want to share something with you today, to help you grow your business. It’s something to help you thrive, whilst many of your competitors fail to even survive. And it’s based on work I’m doing right now, with thriving service providers worldwide.

Allow me to explain.

I’m writing this on Wednesday morning, in lockdown because of the coronavirus.

Between now and the end of business on Friday, I have meetings scheduled with business owners in.

• Nebraska, USA.
• Melbourne, Australia.
• Pennsylvania, USA.
• Dublin, Ireland.
• Alabama, USA.
• Brisbane, Australia.
• London, England.

And my son is currently having his guitar lesson via Skype for the first time.

Here’s the thing

Working during a period of lockdown does NOT mean you’re isolated. And it’s vitally important you are aware of this in very real terms.

Why?

Because if you operate from an isolation mindset, your thinking will be drastically limited. Limited thinking produces ineffective outcomes. It’s almost literally “thinking INSIDE the box”, massively reducing the vision you need, to successfully navigate the coming months.

Think about it

Many service providers, probably most, can grow their business very effectively right now. You can thrive, let alone survive! These include almost every consultant, coach, trainer, accountant, lawyer, designer, PR agency, communications agency, web developer and marketing provider.

Growth: You can speak with new, prospective clients via voice or video, whichever they prefer. You can invoice the new client via email as usual, and receive money via bank transfer almost instantly.

Retention: You can also render outstanding service to your current clients and help them, thus retaining them.

Now consider this

The vast majority of your competitors are in panic mode right now.

• Their thinking is about isolation; “when will it end!?!”.
• They’re fear-focused.
• They’re wondering how they’re going to get through this.
• They’re not looking to expand, they’re desperately trying to contract.
• They’re seeking ways to limit their overhead.
• They’re refusing to pay key people to their business.

In short, their focus is limitation, lack, fear, reduction, loss, contraction. And as people tend to move towards what they focus on, they’ll really struggle.

But not you, my friend.

Because with the right growth strategy, the sky should be your limit.

Whilst your competitor’s limit is the inside of their isolation box.

Photo: Shutterstock.

Just 5 days ago, I shared some ideas about how to boost your cash flow during the coronavirus restrictions.

Here’s some of the feedback you gave me, on how you’re tackling the impact of the virus. I also share a very important observation for business to business service providers.

Anita runs a vegetarian restaurant. “We were basically waiting for the order to close and figuring out how to survive with no money coming into the business”. […] “After your email I started thinking on things we could do and nothing came to me. I asked Joe my partner and he said why not provide a takeout service so we asked around our friends on Facebook to see if anyone was up for it. They were and we started 2 days later and today we’re getting some thermal bags for home delivery starting next week”.

Grant is a financial advisor. In his email he explained that he had built his reputation around a very personal level of service. “The thought of working remotely with clients left me cold plus I hate cameras”. […] I read your blog and decided to call around some clients to check if they’d like next weeks meetings via video and only one client said no. That’s because he didn’t have video set up on his home computer yet. I’ll call everyone next week and am hopeful about the future for the first time in a month.”

Alan runs a hair studio and liked the idea of offering vouchers, which can be bought today, to secure your place in the queue, when the coronavirus restrictions are lifted. He explained that a lot of his clients were due an appointment, so he emailed them. “Around 35% snapped the vouchers up and I think more people will buy them over coming weeks as hair gets longer and greyer”.

I was also contacted by a piano teacher, a fitness instructor and several business advisers who have offered their first video sessions, or plan to, next week.

Okay. I’m going to pivot slightly and focus on a specific section of readers.

Your marketplace needs you more than ever before

There’s something huge that I’ve noticed increasingly over the past few weeks. And it’s echoed powerfully in many of your emails.

Those who provide B2B (business to business) advice of any kind, are finding they are more needed by their clients now, than ever before. Their clients are worried, uncertain, in real need of answers and support.

However…

This surge in need is being totally missed, by providers who are scaling their services back, rather than ramping their services up.

I can’t help but think that many providers in; marketing, HR, recruitment, finance, training, PR, coaching etc., are missing a once-in-a-lifetime opportunity to serve their marketplace, by refusing to adapt to the new needs of the market they serve.

If you’re one of these B2B providers, your marketplace needs you. And it needs you like never before. This is not the time to step back. It’s the time to step forward and adapt to the new landscape. Because your expertise has never been more needed. And in helping your clients and wider marketplace, you’re going to help your own business.

Just don’t expect to be able to carry on with a business as usual approach. If your marketplace doesn’t know you have the answers, support and ideas they need for this crisis, they’re not going to ask you for help.

Stay safe and remember, we’re all in this together, my friend.

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.