So as I put on my hazmat suit to go to the grocery store, I decided to write this post on the Covid 19 travesty that surrounds at the time of this writing.
As I write this people all across the globe are dealing with the Covid 19 pandemic. In some ways it does feel like an apocalyptic event and as we continue to destroy our natural environment and see permafrost melt we could see more of the super viruses / pandemics occurring unless we are able to get our act together and even then there are bound to be more challenges – such is the way of things.
The fear people are experiencing is palpable. You can feel it on the streets, online, in the stores (the ones that are open) and many people really seem shaken that our world could be reduced to a more isolated existence so fast. I don’t think this is helpful to our society in general. Loneliness is an epidemic in or digital society.
It was like this well before covid 19 and fragmentation as Teal Swan would say is the “worldwide disease.” I suggest you check out her book “The anatomy of loneliness.”
For me, I can tell you I am not afraid. I am cautious, but I am not afraid. Mostly because I have died and come back again in this lifetime already. 21 years ago I hit rock bottom.
I was suffering from chronic alcoholism and was bankrupt in every department. My internal organs were failing and I had several near death experiences hospitalizations in ICU.
Once you’ve died and come back in this lifetime there’s not much that scares you.
But the visceral problem with this pandemic is the absolute way it has impacted the lives of those suffering from it or who are in effected industries hit by this crisis.
Cash Is The Answer is a blog about abundance and prosperity. The challenge and the opportunity is in accepting that which we cannot change, having the courage to change the things we can and the wisdom to know the difference to paraphrase a famous prayer used in 12 step programs.
So, if you are in one of the service industries hardest hit by the covid 19 pandemic like a restaurant, spa, salon or other service based business that is facing closure what are you supposed to do once your doors have been forcibly shut?
It is in times of great challenge that we are forced into one of two options. You can either take a positive proactive approach or not. You can get creative or wait to be taken care of. Personally, I would like to air on the side of expecting that the cavalry is not going to come. And in fact – that there are people out there expecting to be rescued by you and me.
During the 2008 financial meltdown that saw 10 years of stock market gains wiped out and led the world dangerously close to another great depression, I had the misfortune of being a financial advisor through this unprecedented period. It was crazy.
Every day I’d watch the ensuing economic slow motion train wreck and field calls from freaked out clients. Every time we’d have the same conversation. What I told them was as follows:
You Can’t Be a Victim and am Opportunist at the same time.
What, huh, they’d say. Then I would remind them of exactly what it was they owned and the value those companies had in real life, not the imaginary panic mode everyone was in, but the long term real value.
This was my DBSF (Don’t Be F***ing Stupid) speech.
I’d tell them the dumbest thing they could do would be to panic and pull the plug.
I’d get out of these meetings and here about one more dummy who pulled millions of dollars out of the markets because they “just couldn’t take the losses.” Funny thing was, 10 minutes later I’d see another advisor BORROWNG money to dump into the markets as they crashed through the floor.
What’s the difference? The people who profited had a larger perspective not clouded by panic & were thus able to take advantage of this gigantic opportunity that can be found in the ashes of any disaster. “Within every difficulty is the seed of an equal or greater opportunity” as Napoleon Hill would say.
And so, while we need to be cognizant of others welfare and do our part to avoid the spread of covid 19 or any other pandemic that may come our way, on a practical level fear lowers your immune system and in fact there are only ever two choices: take a positive approach or not. Fear is an acronym.
You can F Everything And Run or Face Everything And Rise.
So, how does that look if you are a business owner such as a restaurant, spa or other place of business hard hit by this tragedy? Here are 6 strategies you can use to survive and thrive during and after the threat is over.
Focus On Mental Hygiene
In order to survive and thrive through the covid 19 pandemic or any similar event in future, it is imperative as a first step to be taking care of your mental and spiritual condition whatever that looks like for you. Fear causes elevated cortisol and adrenalin which lead to stress which lowers your immune system as we have said.
So, for me this looks like meditation, exercise, diet, reading, listening or watching content about spirituality or personal development.
It is also a good time to sharpen the saw i.e. improve your skills and expertise surrounding whatever work or business you are in so that you can take full advantage of the opportunities that surround you both now and after things return to “normal” which to my knowledge is a setting on the washing machine.
There is always a way if you are committed. During times of great upheaval and maximum pessimism some of the greatest fortunes can be made. Where is yours? Where can you add value?
You can serve the world unselfishly and profit immensely at the same time. In fact that is the best way to build a fortune.
Start Adjusting Your Services -Thrive Now & After Covid 19
Start adjusting your services for you customers and clients to accommodate the new lockdown orders and social distancing that people are now forced to contend with. We can’t change the circumstances, we can only roll with the punches and better yet look for where the opportunity is in this situation.
The opportunity for service businesses is to transition to online services and or delivery, take out and curbside services wherever appropriate, For restaurants there are services you can sign up for to facilitate your delivery business.
If you are another type of service business, what else can you do to deliver your products and services, take them inline and give people a discount for doing so?
One of the best strategies for most businesses is to set up a VIP Loyalty Club. Even if you can’t deliver your service online build this list now using Ads & social media, your website, Google listing and Facebook / Instagram pages.
Use both e-mail and sms text message with trackable digital coupons that let you identify key information like when is the customer’s birthday or anniversary, how much money have they spent with your business, which offers are they more receptive to?
This can be gathered using software solutions. You can reach out to us if you need help with this. But the key strategy here is to build an experience for the customer, not just get them on a list. Make it special.
Give them loyalty perks based on how much they spend with you. Put together special packages for your delivery services. Most customers who engage in delivery are new customers. Make sure you have the ability to get back in front of these customers any time you want; so they become raving fans and regulars, not just a one off order. You want them as long term members of your tribe.
Get The Word Out
Get the word out about the changes to your business and don’t neglect your customers or clients during this period no matter what the state of your business or how it may seem.
So, if you are a service based business like a restaurant or a spa, make sure you are updating and optimizing your Google my business listing. Be sure to include your current / new services or menu if appropriate.
Do the same thing on Facebook & Instagram. Make sure your services / menu is updated and people know about your new delivery, take out or online services. If you are a business that can’t do take out or delivery type services now, build up your VIP Loyalty Club as I mentioned above. Keep in front of your customers to build awareness and add value where you can e.g. offering gift cards they can pay for now & use later. Do this and they will remember you later.
Use Social Media A Lot During Covid 19
Use social media. Continue to post even if your doors are closed. Engage with everyone who interacts with your content. Boost some of these posts and make sure people know about your new hours, delivery, take out or online services.
Start running ads on Facebook advertising your new services. Boosted posts only go so far. Broaden your reach to interact with new customers by running Facebook Ads highlighting your new offers and services and use a click to call button so the customer can get in touch with you easily – people are lazy – make it easy on them.
Use this as an opportunity to get them on your vip loyalty club so you can e-mail and text them about new offers.
Add Value & They Will Come
Add Value and they will come. Think of something you can do for your customers, clients and the community even in a small way to make their life easier during these challenging times.
People are spending a lot more time at home in front of computers. Some will get more stir crazy than others (if you are like me and were well ahead of the curve on staying away from people then maybe not so much…) but we are a social species.
It is not normal for us to be isolated and it can lead to irrational thinking and actions. Be part of the solution for them and for yourself.
Always be asking how can I serve? Where is the hidden opportunity here? Have you heard the tale of acers of diamonds? If you haven’t Google it. But the moral of the story is that your treasure is probably right under your nose right where you are, you just need enough clarity to see it.
Which is why mental hygiene heads this list. However, if you can do something now to make your customers and clients life easier they will remember who helped them later and it will come back to you tenfold.
If you need help with marketing check out our free training webinars under the course and resources tab or reach out to us for a consultation if you need done for you services.
Liam S Maynard