Many Entrepreneurs–especially Black and minority entrepreneurs–have experienced unprecedented amounts of hardship as a result of the economic downturn due to COVID-19. With news of business closures and bankruptcies plastering the front page, it’s easy to get discouraged and think “is it going to be me next?”.
What they’re not telling you in mainstream media is that there are so many post-pandemic opportunities to take advantage of to help grow your business to where you’ve always wanted to be. If you want to take advantage of the current economy, utilize this supposed era of recession to make it a season of abundance for you, then you’ll want to check out these post-pandemic businesses opportunities that you need to take advantage of NOW!
- What Actions are Businesses Taking Right Now?
- What Objections do People Have?
- How You Can Overcome Those Objections
- The Power of the Pivot
What Actions are Businesses Taking Right Now?
Are you asking yourself: What actions are other businesses taking right now?
All we see in the media are the businesses that are failing and suffering. With more and more reports of closures every day, have you stopped to wonder: What are these businesses doing (or not doing) that has contributed to their downfall? Is there anything they could have done differently?
What can YOU do differently to avoid experiencing the same hardships in your business?
Once you have those answers, you need to dig deeper. Not every business we see is suffering, contrary to what mainstream news would have us believe. In fact there are many businesses big and small that are thriving during this time.
By embracing and overcoming people’s objections!
What Objections Do People Have?
When contact with other people can mean life or death, there are sure to be more and more objections to products and services that people would normally purchase without much resistance. The uncertainty of “is this safe?” and “are they following proper protocol?” is in the forefront of the mind of every consumer–no matter the market or industry.
A hair salon, for example. Many service-based businesses like barber shops and hair salons have experienced closures due to these widespread objections. They get in the mindset of “people don’t want to see people”, “people don’t want to be near other people.”
And while that may be true for some, it’s not true for all. This is where most entrepreneurs are limiting and crippling themselves and their businesses.
Instead of closing your doors and holing up, hoping to hold out until people decide they want to come into your shop or visit your website again, you can take advantage of the opportunity to overcome their current objections and solve them.
Don’t run away from the objections people have, run towards them because that’s where the money is; because if you know what the objection is, you can overcome it!
Of course, you’re scared. You need to have a surefire way to make money to support your family and you can’t go out on a limb to offer products and services that people ultimately may not want to purchase. Wouldn’t it be better to let all of this blow over and go from there?
This is a normal reaction to the unknown.
BUT trust me, it’s the wrong one.
That very mindset is why so many entrepreneurs and even major retail corporations are losing their businesses. You cannot be ruled by fear.
You have to overcome both your customers AND your own objections! It’s entirely possible and entirely up to you.
Check out Stanley Steamers. Instead of curling up and quitting when the pandemic hit, they shifted their messaging. They offer the deep clean you need in order to keep your family and loved ones safe in your home with EPA-certified cleaner and experts that wear gloves and masks while they take care of your home.
Then Dominos, that introduced contactless curbside pick up where they drop off your pizzas in your trunk or backseat so that you don’t have to touch or come in contact with anyone else while still enjoying the luxury of ordering pizza. In addition, they remained one of the few franchises that kept hiring going during the height of the pandemic. With messaging around supporting their communities, Dominos made sure to pivot in a direction that not only supported their brand but overcame the many objections that their customers might have against shopping with them.
There are many more examples of companies, big and small, that used marketing, messaging, and servicing to overcome audience objections and keep their business going during and post-pandemic. You can them out in Lamar’s video!
But what does this mean for you?
You don’t have to restructure your whole business. You don’t even have to offer a new product or service. Use what you’re currently doing as a marketing tool to reassure your customers. Combat people’s objections by sharing things that you already do. Integrate them into your messaging to combat the fear that they’re experiencing in the news every day.
Have you updated your shipping standards? Share it!
Are you sourcing your components from a facility with a high level of cleanliness? Share it!
Have you integrated contactless pick-up or remote services that people can take advantage of? Share that over and over again!
Don’t think harder about what you can and can’t do because of the pandemic. Think smarter about what you’re already doing and how you can make that work for you in order to overcome objections and get to the money!
The Power of the Pivot
If 2020 has taught us anything, it’s that there is power in the ability to pivot; which is why you need to learn how to think through what one means for you and your business!
In our in-depth article about the power of making a pivot in post-pandemic America, we talk about how a simple shift in mindset can make all the difference for you and your business. You’ve got to get out of your own way if you want to continue to see success and grow despite hard times like these and the ones that are sure to follow in the future.
If you take advantage of these opportunities and master the art of the strategic pivot, you won’t end up another statistic on mainstream news like so many businesses have over the course of 2020.
You have the power to position yourself in such a way that when all of this is over, you can say: “Not only did I survive this pandemic, I thrived in it!”.
All you have to do is seize the opportunity now, before it’s too late!
Learn more ways you can transform your business for the better, even in the midst of a pandemic, check out the other articles on our TSP Blog!
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