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Business lessons learned during COVID-19

I think reflecting on hindsight is one of the most useful lessons we can give ourselves. I believe in the value so much that I host a podcast called Hindsight’s 20/20.

This year has given us a shake down that has many running through the alphabet when it comes to pivoting from Plan ‘A’ to B, C, D and more.

But there are those who are finding that their share of the market is actually increasing during the crisis. They have learned valuable lessons that are supporting their foundation and making other potential clients feel secure in their services.

How can you take their insights and apply them to your own business?

Here are three insights to give you some ideas.

1. Keep plan B, C or D in your back pocket at all times.

There is a saying, “If plan ‘A’ fails, remember, there are 25 more letters.” I have always appreciated that simple quote as a solopreneur myself for the past 10 years and business coach to others. Lots of failed attempts at lead generating, marketing and time blocking have revealed the necessity of being able to bounce back from failure with continued optimism.

When your good ideas don’t yield the results you need, try again in a different way. If you have tried an S.E.O. marketing service that only delivered low-quality leads, don’t give up lead generating, just try a different method. Phone calls, invitations for coffee, emails, texts, social media give-aways, joining a community group…. There are a hundred ways to market – keep up the good intentions and pivot your method by trying a different angle.

2. Position your business for unexpected opportunities.

A friend of mine, Tina Varughese, is a professional speaker on the subject of unconscious bias. During the pandemic she found herself with all kinds of opportunities to share the message and teach companies and staff about sensitivity in this area.

Her message is polished and she has research to back it up. Her jokes and humour have been tested and her technical skills were up to date. So, what happened when a big client reached out to hire her? She was prepared and professional. She has seen unprecedented growth because of the political climate around diversity, and she can handle it.

This summer, while I sat on an expert panel of a virtual conference, I heard statistics that in the real estate industry, top producers have been gaining market share. When the market heats up, are you positioned by your reputation and professional ability to throw out your net and bring in a catch?

Ask yourself and business partners this question, “Are you positioned for immediate growth?” and then get prepared. Which brings me to my third point.

3. Always prepare for growth.

If I gave you five new potential clients today, could your business handle it? Would you be able to cycle them through an excellent intake process? Would your checklists and systems keep all the paperwork and stages in order, would your CRM take care of the details so you don’t ever forget their children’s names?

Don’t wait until you are busy to prepare for growth! Prepare while you wait.

Investigate how you could handle more business. Get serious with your time management, find reliable people you can trust to work with and ensure that your client’s journey will yield satisfaction, referrals and repeat business.

Make sure you can scale your business when opportunities come unexpectedly.

Ask yourself what that would look like – and if you need some hints, email me for a short quiz that you can take to rate your business. Then you will see where you excel and what areas could use some attention.

Perhaps during the last six months you have learned some business lessons of your own that you would like to share. If you have anything to add, send a note to me.  I would love to hear what you have found on your own journey to maximized results!