Expand When Others Contract

When we’re hit with tough times, there is a natural inclination to hunker down, pull back and retreat.

We saw this all too clearly in the 2008 “Great Recession.” Unemployment numbers were sky high and financial stability hit rock bottom, causing many to enter a state of contraction.

At that time, others in my sector cut staff, marketing, and activity, hoping to lay low and weather the storm. But when I saw others retreating, it was a signal to me to go the other way and actually increase activity, investments, and promotion. Yes, our revenue was shrinking, as it

was for most businesses, but I chose to cut my own salary in order to invest in my business.?

Expand, Never Contract

During this time, I spent more on advertising, marketing, and promotion than I had at any other time in my business.

We increased everything we were doing. We created more social media posts, email marketing, videos, speaking engagements, webinars, and more. I also wrote three books during an 18-month period. I created and launched four new sales programs. I did 600 radio interviews and wrote more than 150 articles and blog entries.?

While others were waiting for the storm to pass, I was riding the wave, baby!

The result? We grew our footprint and took market share from those who had chosen to retreat.

After the economy began to improve, many were happy just to be in business. Meanwhile, we were enjoying increased visibility and increased revenues. When people asked how we did it, I was very honest. “We doubled down,” I said. “We went big when others went home.”

That’s why it’s so surprising that in the most recent economic disruption of 2020–2021, the same businesses did the same thing — but to an even greater degree. I saw people who had previously been bold, courageous business leaders literally scared to set foot outside their front doors.?

People across the country were looking to Big Papa Government for safety, security, and a financial bail-out.

You can guess what we were doing. Expanding.

Yes, I heard all the excuses: “My guys can’t get to the office. “They don’t want my product.” “No one is buying anything in this market.”?

But excuses are used as a way to avoid taking responsibility.

When it became clear that “two weeks to flatten the curve” was a pipe dream, I had a meeting with my sales team. They were feeling many of the same emotions that the rest of the world was dealing with; uncertainty, fear, confusion, and loss of control.

My only goal in that meeting was to wake them up to the reality that they could not control what the rest of the world was doing in response to the pandemic. They could control themselves. In fact, they had a duty and an obligation to do so.

What’s more, by controlling their mindset and actions, they could positively impact each other as well as their families and their clients. While others were sitting on their couches collecting their $600 stimulus checks, my sales team was hitting the phones.

How did I get them to set aside their own insecurities and concerns? I sold them. I identified potential objections and hit them head-on. Just as they would have to do with our own customers — and just as you must do in any uncertain environment.?

When salespeople struggle, one of the first things they start thinking is, “Well, maybe it’s the company or the products. Maybe if I was at a different company, things would be easier.”?

They needed to understand that the whole world and every single sales pro was dealing with a global pandemic. “You can pack your stuff and try to find a job somewhere else,” I told the team. “But everyone’s dealing with this. You’ll find yourself in the same situation, but you won’t have the product knowledge, the connections, or this team to back you up.”

Next, I wanted them to come out with confidence. “You have real solutions to your customer’s problems,” I said. “Find a way to make this situation an advantage for the buyer.” We talked about alternative financing, ways to sweeten the deal, and how to turn the current situation into a positive.

What was the alternative? To contract and do less? To lay off some people, send the rest of my team home?

When we finally emerged from the black hole, we’d be facing lower revenues, fewer customers, and lost momentum. Instead, my entire team chose to hit it hard.?

This commitment to 10X expansion paid off big. We grew in every conceivable metric, including a 67 percent revenue increase over 2020. We added 1 million people to our email subscriber base. We added 3.3 million people to our social media followers. We grew our team by over 100 people. More importantly, we impacted the lives of tens of millions of people — all because we refused to contract in the face of uncertainty.

Counter fear and instability with expansion, never contraction. You cannot contract your way to your goals.

10X Mindset: Take Control Of Your Choices

When we make it through one “hard time,” we want to think the struggles are behind us and it’s clear sailing ahead. But I’ve been in business long enough to know there is always another market downturn ahead. We may not know its source, but we can be sure it’s coming.

In good times or in bad, it’s very easy to point to external factors as the reason we fail to achieve. Funny how it doesn’t work in reverse, though. If we have a good quarter, it’s because we’re a great salesperson.

But if our numbers slip, it’s because of somebody else.

It’s human nature to want to find an external source to point to when we fall short of our goals. But while having someone or something to blame can feel good in the moment, it is nothing more than a strategy for failure.?

Yes, you may not be able to control the entire economy, but you can control your response to it. And as someone bent on extraordinary levels of sales and personal success, you must adhere to the mindset of constant expansion.

One sector hit especially hard by the pandemic was commercial real estate. “Grant, it’s insane,” a broker named Keisha was telling me. “Businesses are struggling. They’re rethinking not just their office spaces but their entire businesses. Construction on new buildings has been delayed

indefinitely. It’s a huge mess.”

“What are you gonna do about it?” I asked her. “I’m doubling down!” she told me. “I’m meeting with my clients to see how we can make this craziness work to their advantage. Everything’s on

the table now, and it’s awesome. I’ve got a few ideas for short-term leases for some clients who have the cash to move now, and it’s really going to work to their advantage. Some who never thought they’d be able to buy may be able to scoop up properties for a steal.”

I could feel her energy, and it was a breath of fresh air when everyone around me seemed to be covered in a black cloud. I knew right then that Keisha was gonna come out of this time on top because she refused to sit back and wait for the dust to clear before she jumped in.?

She had now positioned herself as a leader and a problem solver — someone people in her market will come to when things are tough. And they will continue to rely on her when the market improves.

You must do the same. Leaders lead.?

Expansion Is The Way

Successful individuals emerge from the chaos with a plan to move forward, not to sit back and wait for someone else to go first. The idea of constant, unwavering expansion doesn’t always make sense at the moment. But the businesses and salespeople who resolve to take action even in the event of great uncertainty are the ones who win.

You cannot contract your way to your sales goals.

In what areas are others in your market retreating or contracting? What could expansion look like for you in these situations?

One of the best things you and your team can do to expand is to take every opportunity to learn the art of selling. Use commute time to and from work each day to listen to proven-to-work sales training material. Focus your attention on growing your business. Learn negotiating strategies that will double your revenue.?

Periods of slowdown are the time to train, not the time to complain. It’s critical to learn (or relearn) everything there is to know about selling. You need to know how to create selling opportunities, determine your prospects’ needs, and get agreement. You must be able to present, negotiate, and close.?

And there’s no place better to master the art of selling than Cardone University .?

Cardone U is a one-stop solution covering every aspect of sales - from basics to advanced strategies.

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