5 Steps to Crisis-Proof Your Business

By: Coach Felicia – Business Multiplier Pte Ltd

In times of crisis caused by the Covid-19 pandemic, while some businesses continue to thrive, some others did not manage to survive. According to the Business Times, the number of business entities that closed down due to the Covid-19 pandemic is a whopping 8,663 businesses. That number is unprecedented indeed. However, we can choose to focus on the challenges, or we can choose to focus on finding the solutions that will help us overcome those challenges. In this article, I would like to share 5 simple steps on how I personally averted the crisis in my business.liu jo muske majice  drone autonomie  camas mayor  big ten tournament apparel  chuteira nike hypervenom phantom fg acc white total crimson blue lagoon  muške brodarice  חזן צוקרמן שמלות כלה מחירים  barbecue fai da te amazon  anello con montatura a binario  sandisk extreme micro sd 128  תבשיל קדרה בלוג  cacciaviti elettricista professionali amazon  אוזניות מעולות לאמפי 3  filtru de aer matiz  תצפית על מטוסים נתב ג 

Step 1: PLAN

Plan your actions for the next 90 days

When we are under pressure from the ticking clock and constant fire-fighting, it is very easy to lose sight of the bigger picture. In this panic mode, we tend to have knee-jerk reactions and most of the time, they are not very well thought out. As a result, we end up spending even more time when we constantly have to think of what would be next in the to-do list.

Instead of doing that, I came up with a 90-day plan for my business which included new strategies for lead generation, a new sales funnel and numerous activities to ensure I have a constant stream of pipeline for new business. Establish some clarity on the outcomes and goals you would like to have after the 90 days. The strategies were then scheduled to run over the full 90 days to ensure we had enough time to analyse the effectiveness of each step. It required some thinking process and quite a lot of research, but eventually I decided on the plan and now it is time to implement them!

Step 2: INITIATE

Initiate the action plan

Remember, a good plan implemented today is better than a perfect plan implemented tomorrow. Once you have a plan, even if you don’t have the full 90-day complete, start taking action! Ensure you allocate sufficient time to complete or improve the rest of the plan along the way.

One tip: Dare to try some new ideas, even those you have never tried before. I tried new platforms for leads generation and nurturing, planned for a few events, and are now in the process of creating new programmes and offerings for potential clients. In fact, the circuit breaker period became a blessing in disguise as I finally managed to finish a few projects that I did not have time for last year that ended up being crucial to the business. If you start implementing something and it works, do it again! Get even better the second time. Overtime, try more strategies and keep those that work, and either improve or discard those that don’t. You will end up having multiple strategies that are now generating constant leads and sales for your business.

Step 3: Visibility

Boost your visibility

If you have been sitting on your communication plan to your prospects and clients, now is the perfect time to step it up. If you are planning to halt all your marketing activities, do reconsider. This is the time you need to be more visible than ever. You may have to tweak your marketing message or shift the positioning of your products and services, but now is the best time to spend those marketing dollars as the ad costs are lower and competition in some areas are dwindling.

How many different audiences are you reaching out to? How many channels are you using to get those customer engagement? How many networks are you a part of? The last few months have been my busiest and most productive months in the last one year as we doubled our efforts to grow our visibility in the previously-overcrowded marketplace.

Step 4: Online

Build your Online credibility

If you have been focusing on your face-to-face and offline sales activities pre-Covid 19, let’s face it. Virtual is the new normal now. Like a lot of other businesses that we work with, I started transitioning to online deliveries of our content. Webinars, youtube videos, facebook lives, and online conferences were some of the marketing activities I embarked on. On top of that, working on your website and social media presence are also key to establish your online credibility, as a lot of your prospects will probably check these before they decide on making a purchase.

In short, you need to work on both your inbound and outbound marketing funnels. Having a perfect website is not enough if you don’t do some kind of digital marketing or other activities to drive the traffic. Vice versa, spending money on advertisements to drive traffic to a website that does not convert will not help you in this crisis either. Hence, do look into both and choose reliable outsource partners if you do not have the talents and manpower to do it in-house.

Step 5: Test & Measure

This last step may sound tedious and troublesome. However, without this, it is very hard to track if you are on the right track and determine what you need to improve on. From our first webinar, I started tracking the numbers and the conversion rates. By doing this, it allows me to get an insight on what we need to do to achieve our goals.

Let’s use the example of a webinar. If I spend $100 advertising my free webinar, and it resulted in 50 registered participants, 40 of whom turned up, what is my cost per lead? Let’s say 10 out of the 40 participants signed up for my paid online workshops and 1 ends up a long term client. Now I know, if I want to have 4 more new long term clients, I just need to run 4 more webinars!

Imagine if I had not done any testing & measuring in this scenario. I will not know what I need to do to reach those goals!

Conclusion

To conclude, look at the first letters in my 5 steps. They spell out the most important word of the day – PIVOT. If you are still going after the same old target market the same way, and you are focusing on the challenges instead of the potential solutions, it is time to start pivoting. You can’t expect to be doing the exact same thing, as the market has changed.

If you find these steps useful and you would like to find out how you can get more creative pivot strategies to ensure your business continues to thrive at this time, send me an email or visit my website to find out how business coaching can help crisis-proof your business.

Coach Felicia is a business coach with ActionCOACH Global and master coach with Engage & Grow Global. She works with business leaders to transform their businesses and teams through proven coaching programmes so that they can achieve their full growth potential both in their professional and personal lives. Her main objectives in coaching are to help her clients grow and multiply their business and to create a commercial profitable enterprise that works without them.