Another Uphill Battle – Are You Ready?

• June 9, 2023
• Result Driven SEO
• Conversion Optimisation, Lead Generation, SEO Blog

Three years ago, we were hit with a crazy disaster called Covid-19, that completely messed up our lives and businesses.

It was like nothing we’d ever seen before. And you know what? When the government started handing out support money like it was raining leaves in autumn, I had a feeling there would be a catch.

As consumers and business owners, we knew we’d have to pay back that money multiple times over in some form.

And wouldn’t you know it, that increase in money supply has contributed to our new latest crisis… inflation and higher interest rates. 

And so, what happens next? Here’s what I think…

WHAT “EVERYBODY” IS GOING TO DO

People are going to continue to panic and then, at some point, they’ll stop.

They’re going to panic for two reasons:

First, because this is directly impacting on their disposable income. And that isn’t a small consideration.

Second though, because of the media, and more specifically, social media.

Most people will lose focus of what they “should” be doing and instead become “paralysed” by fear. When in reality, this is the WORST thing that you can do in these moments.

The media is feeding off fears and insecurities to generate discussions, views, and uncertainty for their benefit, and they will continue to feed off it provided that we continue to give them our attention.  We’ll stop when they stop.

WHAT THIS MEANS FOR BUSINESSES

As discretionary spending tightens and uncertainty grows, businesses will start to dry up, as will your cashflow. And anything that affects your cashflow, needs your full attention.

Personally, I believe that businesses’ biggest risks right now are…

• Customers cancelling
• Customers not booking future appointments
• A decrease in new customer enquiries or purchase

And unless you’ve banked 90 days of cashflow to handle unexpected nasty surprises, you need a plan to dominate during this period. 

So, are you going to spend your time browsing social media, watching the news, and talking back and forth with people about this situation?

Or are you going to FOCUS on making your business economy-proof?

My pearl of wisdom today is to focus on your business. Always.

WHAT SHOULD YOU DO TO TAKE THIS CHALLENGE ON

People panic when there is a lack of certainty from their leaders, and you are the leader of your business and your customers, so you need to act with certainty.

Now is not the time to get defensive, it’s time to stand up and lead to the best of your ability.

Create certainty. Be certain. Lead.

Right now, is similar to when you are going to bike up a big hill; what do you do as you approach the start of that big hill?

You get up out of your seat and you peddle like crazy because momentum is what really matters when you are facing an uphill battle, right?

I am writing this message for you as I really believe that a lot of people don’t take these moments seriously enough.  We are most likely about to enter a recession, and it’s going to be a very big uphill battle for a lot of us, with job losses and shuttering businesses.

You need to be serious about this, this is the time to ramp up, see this challenge as an opportunity, and leverage it like you haven’t done before.

CAN THIS BE TURNED INTO AN OPPORTUNITY?

100%!

And it SHOULD be.

Instead, think about the weakening economy this way…

1)  Most of your competition will be following the herd and doing the whole “let’s sit around and talk about the recession”, while simultaneously browsing social media and watching the news for the latest sound bite or update, while NOT taking action to prevent cancellations or building their business.

They are NOT promoting. They are NOT standing up as leaders in their market. They’re NOT in the game.

2) Many businesses will stop advertising (or at least slow down their current activities) because …you know … “the economy”.

If this happens on a big scale, AD COSTS WILL GO DOWN, which will create a very advantageous environment for people willing to take on the challenge.

This is no different than the start of Covid – 19.  The uncertainty and lockdowns, drove people to stop advertising. But I advised a group of business owners to keep spending, and guess what?

They totally hit the jackpot in 2020 and beyond!

The cost of advertising went way down because their competitors stopped splurging on ads, and this meant that these businesses were able to acquire new customers at a better rate, without breaking the bank.

When uncertainty and fear grips the market, a “Shrinking Mindset” forms. And this will happen again, but it is also where opportunity is most rife for those willing to push forward.

3) A “Leadership Gap” has probably formed in your market. If it hasn’t yet, it will very quickly.

Most people go through these situations with a “Survival” attitude. However, this is not the case for leaders. 

Leaders will see the opportunity, and whilst nobody is happy with the current situation, this small group of leaders will emerge stronger and more successful when the dust has settled.

These leaders will be actively communicating with their customers to create certainty, to demonstrate their business, to over deliver and offer more help than ever before.

This group of leaders will be hunting for opportunities.

This group will be on the hunt for talented staff that the fearful will let go of.

This group will continue to actively market their services.

Know this…

Your market is experiencing the same thing everyone else is.

Uncertainty. Worry. Disruption.

But… If you step up and LEAD, you’ll stand out.

So.. don’t let fear paralyse you!

Start making moves.

Invest in your business.

Your education.

As Warren Buffet says….“Be fearful when others are greedy, and greedy when others are fearful”.

Now is the perfect time to invest in your business. To invest in yourself.

I’ve just released a new training event called: “5 Dangers Facing Small Businesses Now and How to Market Effectively Post Covid”.

It’s a 45-minute training event that shows you how to leverage your existing customer database to generate some quick new revenue for your business.

Interested?

Awesome!

Click on the link and to register and get involved.

There’s nothing stopping us from taking advantage of the economic realities of today.

The fact is that most people aren’t promoting right now, most people aren’t running ads and most people don’t really have their head in the game.

Which is good for you. If you’re the only one showing up to the race …it’s a lot easier to get that pole position!

The future may look daunting, but we’ll get through it together!