What do you do when your business is in crisis? If you’re ready to shut the doors and searching for one final jolt of strategy, what’s the game plan? If this is you, stop. Take a deep breath and watch this video.
You don’t need more products to save you. You don’t need a new service to save you. You don’t need to expand your offerings and meet every niche in the market. Just stop. When you freak you freeze. You become frazzled and can’t think through the things that have made you or saved you in the past.
Take a look at the things you’ve done that are profitable. Focus your attention on doing what actually works. What’s gotten you to this point? Sometimes we get an entrepreneurial hubris that we can do 20 different things based off the one thing we did well. Next thing you know, the thing that actually made money isn’t the priority. Focus on what’s working and make that the priority.
If you’re starting a business and you’re in crisis mode, ask the question, “Does anybody even know your company exists?” You can’t just open up a business, hang a sign outside and expect that people will come. If no one knows you exist, get out there and let them know! Use guerilla marketing or social media. Do something!
If you’re a business in crisis, you need serious coaching and you need it immediately. Go to the coaching page to learn about the 1-on-1 Business Coaching options I offer right now.
5 thoughts on “Business In Crisis [Video]”
Stopping to breathe is definitely key. What’s usually lacking is not time or money, but an IDEA. And you can’t think when you’re locked up in panic and fear.
That said, the internet is tipping the buy/sell relationship so drastically in favor of the buyer that “what worked before” may not work now. So getting businesses back on track definitely requires a review/revision of strategy. Good call.
Ken, you just inspired a blog post on how to leverage potential buyers’ use of the internet to research your business. The central point is see this as an opportunity, not an vulnerablity and take certain steps to shape how people see you. Thanks!
“When you freak, you freeze.” So true. I’m in the phase of launching a new life coaching business. It’s so easy to get overwhelmed feeling like there’s 40 things I need to be doing RIGHT NOW. Focus is definitely the key to clearing the clouds and moving forward.
I can identify with the starting a business aspect. I’m starting to pick up that book, “Guerrilla Marketing,” again. I had allow my schedule to get too hectic to allow time to properly get the business going. Granted, some things were out of my control, but I have started to work through those. I need to get myself focused and re-examine my marketing approach (which was pretty much dead before). Thanks for this, Chris!
Spot on man.