BUSINESS CRISIS TIP #5 - START A TEXTING TREE

To make the correct decision about how you are going to move forward, you need INTEL, and you need it FAST.

The market has changed 360 degrees, and chances are your client's pain points have as well.

To correctly pivot, add new services, or decide to mothball or close your business.

You need to understand your client's new pain points and whether you can service them (or someone else).

It would help if you spoke with them.

Typically you would conduct a survey.

However, now is not time, in my opinion, to send out a business survey, chances are it could come across as tone-deaf at best or opportunistic at worst.

Right now, I think the best way to think about your clients is to think about them as your COMMUNITY.

How will you SERVE and look after them?

Many people right now are feeling isolated and lonely.

So, I suggest starting a TEXTING TREE.

A text is unobtrusive but personal and direct.

The purpose of your texting tree is to check in and see if everyone in your network is okay and to see if you can help.

NOTE: THIS IS NOT A SALES TOOL

FIRST STEP: Go through your phone or database and identify 40 + people to reach out to.

SECOND STEP: TEXT them something like "Just checking that you are okay? I am here if you need anything or if you want a chat.”

THIRD STEP: Some people will call/text back, ask them how they are going and what challenges they are facing.

FOURTH STEP: Start noting their NEW PAIN POINTS and future plans

FIFTH STEP: Offer help where you can.

SIXTH STEP: Ask if they know of anyone else they could recommend that may need support or checking in on and ask for that person’s details.

The reason it is called a texting tree is because it grows; the more people you speak to, the more information you will collect, the more people you will help and the more they refer you. 

You will then start to see pain points that form patterns, and you can formulate a plan for how you could best SERVE them.

During the GFC, I spent hours on the phone speaking to customers, suppliers, and other business owners.

I quickly established that the events industry that was my business was canceled. 

However, in speaking to people about what their plans we, I discovered they were all focusing on family and the home;

Therefore the question became: How could I pivot my business so that I can I could be part of that new market?

I then pivoted my business into a lifestyle brand, and started a school teaching cake decorating and hobbies; this business went on to become very successful.

In the market right now I see some of the following pain points and trends:

·        ONLINE ANYTHING

·        TOXIC STRESS

·        FINANCIAL ADVICE & SUPPORT

·        COMMUNICATION support

·        RELATIONSHIPS conflict resolution

·        ADDICTIONS

·        MENTAL HEALTH

·        COMMUNITY

·        ENTERTAINMENT & ESCAPE

·        HOME RENOVATIONS

·        HOBBIES

·        JOB SEEKERS

·        FAMILY

·        HEALTH

I truly welcome your thoughts and other areas that you have seen trending at the moment.

Now is the time to re-define your customer avatar,

Who are they?

What are they experiencing, and

What are their pain points and future plans?

Is there an opportunity for your business to pivot to serve these needs?

*Note: If your business is hemorrhaging money, the most crucial step is to shore up cash flow. As a strategist, I am focused on business recovery. However to make immediate business decisions please reach out to your account, coach or mentor.