The time to Stock Up is Now. Opportunity of a lifetime will not last forever.
COVID-19 brought health issues and economic disruptions: it definitely changed our lives. But it also created an opportunity of a lifetime for entrepreneurs and business professionals.
This is a wild, scary, but also exciting time.
Money is changing hands. Businesses are changing owners. Companies are going out of business, creating opportunities for other businesses to enter their niches. The stock market creates millionaires and breaks people’s bank accounts overnight.
In times of uncertainty, as human beings, we tend to hold on to what we have and try to control what we think we can control. It is psychological, it's OK, we are wired that way. That is why we run to buy toilet paper in crazy amounts or stock up on food that can last for several months. It is an illusion but it gives us a sense of control.
I agree that in times of uncertainty, it is time to STOCK UP.
But instead of toilet paper, this time we should stock up on what really matters and get in control.
As business professionals we should all stock up on knowledge. There are so many free online resources where we can learn and improve our current skill set. Coursera is my favorite learning site.
Learn from business leaders, listen to business podcasts.
Here are some of my favorite business podcasts:
Entrepreneurs on Fire with John Lee Dumas
Business Lunch with Roland Frasier
When things return back to normal, we should be prepared. Lack of time is not an excuse anymore.
As business owners we should stock up on business leads. Start getting as many leads you can possibly get.
You might argue that people are not going to buy your product or service now. It does not matter. When things are back to normal, you will be so much ahead of your competitors that you can hire a team of salespeople to handle your leads. Fail to act now and you might not be able to jump in for a while.
Learn how to do it yourself, or hire someone to help you. Just don't let this window of opportunity close in front of you.
So many companies pulled their advertising budgets, laid off their sales and marketing teams.
Wise? Time will tell.
But there is one thing that is fact: advertising became less expensive, there are less ads in the digital space, and it is easier to reach consumers.
One more positive - there is time now to treat your sales leads the right way.
Take time to know your leads. Have a Zoom call with them instead of sending text messages. Follow-up before jumping to another lead. Educate leads about your product or service. Contact each lead 8-10 times.
Now is the time to stay alert and act. Not to hibernate and hide.
Times like these do not happen very often. Take advantage of it and control what matters most.