It has been a strange year. A very strange year. The entire world is caught up finding a vaccine that will protect us from a deadly disease we now know as Covid 19. A disease we hadn't heard of a year ago, which doesn't discriminate. Rich or poor, old or young, we are all vulnerable to it, should we be one of the unlucky ones who become infected.
The crisis means that our need to adapt to the threat has never as strong as it is in 2020. We have to protect jobs, employment and the economy. So it is interesting to observe which businesses take a positive growth mindset toward the not insignificant challenge of recession and low consumer confidence, and those who do the opposite. Crisis really does separate 'the wheat from the chaff', 'the men from the proverbial boys', with some notable businesses coming out stronger, by finding new ways to help their customers, innovate in their delivery or supply chains, and by adopting a mindset to make the best of difficult times. Yet other businesses have chosen to sit it out - a risk I wouldn't take, nor advise to my clients.
So I thought I would highlight what the very best growth oriented companies (big and small) are doing today that could inspire us and help us learn and grow.
Tip 1 - Adapt Quickly
First, the best think about needs. Have they changed? Yes. How do I to adapt my company to meet those needs, look after my customers and make sure I generate income. A great example of this is my local fruit and vegetable shop (kudos due to The Market Garden, Cirencester) which immediately recognised lockdown meant people couldn't get out to shop, so they quickly changed and set up a delivery service, village by village (to maximise profitability) and guess what? Their customers were grateful and income grew exponentially in one of the toughest years of my business experience.
Tip 2 - Spot New Needs
A business coaching friend of mine had a revelation recently. Instead of continuing to push programmes of leadership development to large corporate companies, she recognised that many businesses have one thing in common right now - dealing with stress, pressure and uncertainty, and figuring out how to keep afloat when cash flow is tightening. She changed her approach and reached out to businesses to help owners and leaders work through questions of how they will rebuild and protect their businesses, and crucially, help their teams cope with difficulties, pressures, problem solving by investing in them now. This was a smart move, tuning into the needs of now, using her skills to help others survive. Another good example of a growth mindset in action.
Tip 3 - Embrace Technology (and be creative in how you use it)
Maybe it goes without saying that most of us have embraced technology as a way of keeping in touch and keeping things going, whether we use it for business meetings or chats with friends and family. I was talking with a director of a consulting firm recently who needs to find new clients quickly, yet believes it is impossible whilst face to face conferences and events are off the agenda. As we got talking, I shared with her my experience of attending a networking event recently, all done via the ubiquitous Zoom platform, and an experience almost as pleasurable and effective as if I had been at an actual rather than a virtual event. With the creative use of breakouts rooms, the organisers (the truly valuable and impressive network @WomenOnBoards) I met lots of interesting new people and made new connections, which I have followed up, just as if I were prospecting in a conventional way. Another creative application that I really appreciated this year is attending a virtual conference, with booths to visit and talks to listen to, which illustrates my point. The barriers to growing your business are fewer than you think they are. All we need is energy and creativity to try new things.
Tip 4 - Be Visible (in a meaningful way)
There is no doubt that in the first few weeks of lockdown, it didn't feel right as business owners to be out there promoting their services. People needed time and space to understand what was happening. Yet keeping quiet and stopping business development and marketing programmes wasn't sustainable for any period of time. Businesses have to plan and work out what next, and the marketing campaigns started to run, although with a distinct shift in tone inspired by the mood in the country. Gone were the overt sales pitches, in came campaigns which 'served rather than sold'. There are some great examples out there to inspire - for example the renewed focus from the @Nationwide Building Society that good business comes from its purpose - making a contribution to society, whilst happening to provide financial and savings products to people who prefer a mutual society model over a bank one, and all that represents.
Tip 5 - Equip Your People
So you have identified a need, adapted to the times, embraced technology to engage with customers and you have something to say that is meaningful. The last and most critical step is to work with your people. Talk with them, train them, engage and inspire them to help you serve, with passion, confidence and commitment. And if you do all this, I am confident that good results will reward your effort.
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