As the year 2020 comes to a close, it’s easy to rattle off everything that didn’t go as planned this year. But there is at least ONE gift you may not have thought of, or may not even see as the gift it truly is (yet). What is it? It’s the death of the pre-existing infrastructure. In 2019, we largely took our business structures for granted. We were comfortable in our old patterns. Wherever we were in business, we thought we had figured out the secret to success and just needed to take the well-trodden path to get there. Well, the rules of the game have changed. Now, as we rise from the ashes of chaos, it’s a new game with brand new opportunities. And this is a beautiful gift. There’s a massive opportunity in change and crisis to leverage interrupted patterns, new ways of thinking, and play the right game of business in a way that provides massive value to your clients while boosting your bottom line. Now, you have the opportunity to re-design your business and play by your own rules. And this starts by asking yourself new questions. Ask:
- Who do I want to work with?
- Who wants what I have to offer?
- What do I love to do?
If you feel burnt-out, uninspired, or unfulfilled—or your old way of doing business is simply no longer working—now is the time to evolve and reinvent your business in a way that is deeply fulfilling and works for you. I dive deeper into this subject in my book, UpSolutions, but here’s a quick run-down of the three necessary shifts to make in order to leverage this massive gift of 2020.
Shift #1: From Sales to Solutions
During times of crisis, all decisions are up for review. If you previously focused on numbers and sales, reconsider your strategy. Why? By focusing on sales, you commoditize yourself and compete with the rest of your market on price. Your business becomes an exchange of goods or services for money, and nothing more. Naturally, if this is the case, clients will gravitate towards the lowest price. By shifting to a solution-focused approach, your brand is positioned for its value and you adjust your offering based on the solution your clients need, here and now. What solutions do your best clients need and want during this time? Their needs and demands have certainly changed. Whether it’s delivering your product, offering a new way to enjoy your services, or another creative way to support your clients during this challenging time, focus on solutions and the sales will follow.
Shift #2: From Transactions to Relationships
When you’re too focused on the numbers, you lose sight of who your clients are and how you can best serve them in a long-term relationship. Engage your clients. Ask them questions about what they want and need now and later. Discover their pain points, their challenges, and their struggles, and discover the opportunities to provide them with the solutions they need to accomplish their goals. 2021 demands that we play the long game if we want to succeed. And this requires a focus on relationships, not transactions. Nowadays, anything your client could possibly need is right at their fingertips. They’ll choose you if you provide a solution to their problems and connect with them on a deeper level than simple money exchange. Marketing legend Dan Kennedy says, “When times get tough, customers are less likely to leave a business they have a genuine connection with.” Make the shift from transactions to relationships and you’ll see incredible customer loyalty, increased retention, and increased revenue per customer for the long-haul.
Shift #3: From Price to Value
Because of the crisis, people’s buying behaviors have changed. Fear and uncertainty of what the future brings have caused people to consider the value of their purchases more carefully. Interestingly, I’ve found that people are willing to spend more if they have a high perceived value, or if your solution makes them feel safe or taken care of. If the value of what you have to offer isn’t clear, your clients will base their buying decision on the lowest perceived price. This, again, drops you into the clamoring piranha-pool of commoditized products and services. And with commodities, consumers go by price because, well, they’re all the same, right? With the interruptions of 2020, you have the opportunity to communicate your value so clients can clearly see not how much you cost, but what you’re worth. And that distinction makes a massive difference in the way you do business. Want to keep up with the times and make the most of the opportunities 2021 will bring? Click here to join our email list (we carefully guard it and never abuse) and receive your free copy of the Never Waste a Crisis ebook.