The Moral Business Leaders 'Survive & Thrive' Guide during Covid-19

Smart business owners know that it is the dynamic businesses that will prevail in these turbulent and uncertain times.

I’ve seen a lot of content out there around people getting annoyed at the 'business as usual' approach that some businesses are taking and also content defending business owners who are still selling. It can be hard to know what to do for the best. You need to keep your business going but you also want to be sensitive to the hard times we are experiencing.

I wanted to provide a ‘survive and thrive’ guide for all service based businesses out there so that they can navigate this storm as a leader and as a business that can still make money without getting it morally wrong.

So here are my top ten tips on staying afloat, finding your strength and eventually thriving after the dust settles.

1. Look after your current customers and clients first and foremost -

They’re the most important (they've invested in you and are looking to you to support them) and losing them could mean more to your business than not gaining new clients.

What can you do for them to support them through the impact it is having on them?

Stay in touch, remain flexible and have compassion. They have invested in you and are looking to you to support them. They need you more than ever to show compassion and flexibility. They deserve your immediate attention.

This is your time to shine as a company who truly looks after their customers - leverage this opportunity to lead.

In our travel business we have been praised by 99% of our customers on how we've handled the situation - "Never had such a good experience with any kind of travel booking. No exaggeration"

2. Plan ahead -

For the customers you are moving to a more appropriate time, ensure you don’t create too much of a bottle neck when rearranging clients.

Of course you have to be flexible and understand that if you want to make the most sales then you’re going to be busy when things settle down - but make sure it’s realistic and don’t set yourself up or your clients for failure (and burnout).

Think about how you might be able to deliver your services online or even part of that service online and the rest later on.

What are the alternatives and how can you make sure your clients feel supported with options. Sometimes something is better than nothing - adapt.

3. Don’t forget simple sales strategies -

Keep reaching out to previous clients AND new prospects...

Personal conversations are going to matter even more than ever to help give extra reassurance to your prospects that making the decision to invest at this difficult time is a good decision for them/their organisation. (That being that it IS a good decision - see point 4)

Pre-suasion is still something I stand by and part of that is hitting objections head on in your marketing to allay fears and help to overcome them before they get on the phone. But the phone part has become even more important than ever.

Collect No's - you may hear more of them - BUT it's a numbers game - there will be a 'yes' in among them, & most 'nos' will be actually be a 'no for now'

Make sure you are adapting & offering flexible options.

Delivery of service - can it be done online or partially online?

Take deposits for work to happen when things go back to normal ensuring that they are served first.

Could you offer something different that could help them right now?

4. Keep your moral compass -

And if you lost it while back it’s going to be even more important than ever to find it and quickly

How are you selling?

Are you looking to TWIST the marketing message so it favours your business or are you looking to create messaging that serves your market first and foremost in this difficult time.

Do not leverage a bad situation UNLESS it’s for the good of the person you are selling it to. Keep your moral high ground and in the long run it will pay back exponentially. 

5. Adapt -

Offer virtual options, make your services more accessible through payment plans, deposits, a ‘secure now at a lower price and take advantage later’ option. Can some of your service be delivered online and the rest to take place later? - That way you'll be able to make some progress and they will be committed to the whole progress, win win.

If it's not a priority for your prospect/client right now - what is? Can you offer them something slightly different to what you normally do that will help them right now?

I’m not a fan of discounting even in these turbulent times. It’s far better to create something new and at a different price point.

Discount at your own risk - whilst some see it as a noble and kind offer - your previous clients see it as an undercut from what they paid originally and a desperate attempt to make sales.

Create a new offer - that’s my advice.??

6. Remember who you are talking to -

How is this crisis affecting your ideal client/market specifically? What can you do to create a relevant USP that will help them with their most urgent problem and overcome their objection to being able to invest right now?

7. Pivot -

It’s possible that in this time of crisis your particular ideal client will retreat entirely from your product. At the moment it may just not be on their list of priorities. ??

This of course is dependent on your industry and who you are serving - in some cases business is booming.

But things will eventually return to normal BUT this could be a good time to think about pivoting to an ideal client that may not be AS affected and perhaps more in need/less resistant.

Or potentially pivoting to a slightly different service to meet your current ideal clients' priorities.

It's still too soon to make any permanent changes to your business but it's certainly worth thinking about and preempting. Keep your eye on the horizon.

There is nothing lost with looking at other revenue streams.??

8. Stay in touch -

Just because someone is not ready to buy now doesn’t mean they won’t in the future, the more you engage your customers now and look after the relationship the more likely they will be to pick up the phone and buy when times are better.

9. Check your positioning-

How can you best make use of the time?

Obviously looking after your current clients must come first and remembering to stay in touch with hot prospects AND prospecting with mindfulness & compassion of the current situation - but beyond that…

Before this crisis hit how were you perceived by the market? Use this time to really hone in how your business can become a strength to your market in this difficult time and beyond.

How strong is your USP? Do you have one? Are you seen as the credible expert for something important and specific? Are you the obvious choice for your market?

Do you have a book that you’ve been meaning to start/finish writing that will help position you as a leader in your field?

Perhaps review your LinkedIn profile and it’s messaging to ensure you're hitting all the right spots with your ideal client.

Do you need to review your messaging so that it accurately reflects your ideal client, their problem/goal and perhaps addresses the new situation that your ideal client finds themselves in?

How are you perceived by the market? I’m observing a lot of FREE coaching and services going on out there which is great for those that it will help - but the question is - who is actually taking you up this offer? This is going to sound rather mean but at the end of the day it’s the truth… a lot of the people that tend to (not all) but tend to reach out to this offer are the freebie hunters who were never going to invest even the good times… keep a close eye of how many quality people/businesses are reaching out to you after your offer of help, it will be a good indicator of your positioning within the market. 

10. Lastly I want to tell you to LEAD -

It is the leaders who prevail in times like this - be the strength for your market, hold the torch of compassion & positivity and keep going.

Don't do what everyone else is doing or even telling you to do. Follow your own moral compass, do what is BEST for your clients and your market. And remember there is no shame in selling if you are providing a solution to a genuine need. Write your OWN copy and communications - do not swipe and deploy. Your audience need to hear from you and in your voice to continue to trust your business in these testing times.

In times like this an element of normality needs to be kept in order for normality to resume. This won't last forever, the dust will settle and the markets will recover - stay strong. Be sensitive to the impact it is having on those you serve but keep moving forward.

I’m sending everyone affected by this pandemic the best of wishes and heartfelt condolences to those more seriously affected. 

I'd love to know which tip(s) you found the most useful - let me know in the comments.

If becoming a Market Leading Business (and prevailing when times are tough) is something on your priority list then why not jump on a call with me for a zero pressure chat to see how we can make that happen. Book your call here.

You can also listen to a dedicated podcast episode on Navigating Your Business through Covid-19 on your fave podcast app - just search Expert Unrivalled.