The world continues to operate in crisis mode over the Coronavirus. Any crisis affects people’s mental thinking and many actions become irrational. There will be an economic downturn of some, hopefully short, duration. Many things may not be affected for another 30-90 days. Tourism industries, transportation, events and education will be impacted the fastest and hardest as we have already seen. The sentiment on the pandemic will not be shifting anytime soon, the peak of the virus has gone down. So, what should you do now?
- Don’t argue with facts. The pandemic is fact. Yes, other factors make this situation seem stupid or silly. The news, the politicians, even local and global leaders will do things that don’t make logical sense yet we must live with the consequences. The situation will change, the rules will change, learn the new rules and play your business game based on the new rules. Don’t try to argue with the logic of the situation – if the situation is global panic or global recession, you won’t win the argument regardless of irrationality.
- Put your personal care first. Be sure you are healthy; physically, mentally, and financially. This is critical as you can’t help others if you are challenged in these areas.
- Your team’s morale is crucial! Given that the in the eyes of the news media this is a panic, communicating your business changes to your team becomes critical. Without communication fear, uncertainty, and doubt fill the void and leads to more panic. No news from the leadership is news itself – and not good news either.
- Does your distribution model need to be changed? With this pandemic you might need to change the way you distribute (or sell or deliver)? Do you need to deliver the product/service in a different model? Will your customer buy the product the same way? Don’t wait for the customer to find alternative sources.
- Keep selling and keep marketing. People will still buy products and services. There will be taxes due, and restaurants open, and travel happening. Those who market and sell better than their competition will be the winners long term. This is an opportunity to take customers from the competition. You might want to change your marketing messaging to help customers continue to do business with you. You might want to help your customers understand now is even a great opportunity to do business with you.
Here are 12 Actions Business must take NOW:
12 Actions Businesses Must Take Now for a Successful Response to the Coronavirus Crisis
To your continued success…………..Jeff