As we head into economic uncertainty, nobody knows what's going to happen.
Here are the three things I'd do to set my biz up for success despite the odds:
Here are the three things I'd do to set my biz up for success despite the odds:
1. Expectation setting.
I'd tell my team we're transitioning from peacetime into wartime.
Let me explain...
I'd tell my team we're transitioning from peacetime into wartime.
Let me explain...
During peacetime:
- There's more excess
- There are more available resources
- We're laxer in our approach
- There's more excess
- There are more available resources
- We're laxer in our approach
During wartime:
- There's no more excess
- We're purely survival-focused
- We're going to have to work our asses off
- There's no more excess
- We're purely survival-focused
- We're going to have to work our asses off
2. I'd shift my marketing.
When the economy is more secure, it's easier to sell based on desire.
Whereas in tough times, it's all about survival.
It goes from marketing to winβ
To marketing to not lose and preserve what you have.
When the economy is more secure, it's easier to sell based on desire.
Whereas in tough times, it's all about survival.
It goes from marketing to winβ
To marketing to not lose and preserve what you have.
3. I'd focus on building brand certainty.
In times of need, we tend to go to brands we know are predictable.
If you can be the brand that's predictable in your marketβ
This will build trust with potential customers.
And position you as the natural buying decision.
In times of need, we tend to go to brands we know are predictable.
If you can be the brand that's predictable in your marketβ
This will build trust with potential customers.
And position you as the natural buying decision.
As with anything, though, this is a ruthlessly simplified take.
Tough times are tough.
In my experience, the best thing you can do is plan for the worstβ
Then adjust your plan as new shifts happen in the market.
I hope this thread helps in the months to come.
Keep crushing.
Tough times are tough.
In my experience, the best thing you can do is plan for the worstβ
Then adjust your plan as new shifts happen in the market.
I hope this thread helps in the months to come.
Keep crushing.
Loading suggestions...