This morning, I spent a couple of hours organizing my office for all that I have coming up in the next few weeks. In the process, I got rid of a slew of old magazines…. some dating “all the way back” to 2008, when the headlines BEGAN screaming at us about how bad the economy was getting… what they thought it would mean… and how we – as business owners – could respond.
Now, you should know that I’m much more a student of human nature than anything strictly economic, but even then I took stock of what messages were going out through the media and began to watch closely as business owners started responding to it. I’ve been watching and learning ever since.
Here’s what I’ve learned:
1) People listen DIFFERENTLY to your message today than they did prior to this “slumping economy”. When things were “good”, more and more messages were being thrown at consumers and organizations, and in order to really get their attention, you needed to entertain. Now, people are solutions oriented. They are listening for solutions. They’re question: Can you help me? Can you really help me?
And they are listening with a great deal of scrutiny. They’ve spent money that was wasted. They’ve paid for what was never delivered. They’re sick of smoke and mirrors and realize that what used to suggest “Hey – this person is the real deal” could easily have been fabricated or paid for instead of earned and legitimate.
The coach, consultant, expert or solution provider of ANY KIND who deliberately positions themselves AGAINST the glossy and fancy big business image is at a huge advantage today. So is the business owner who is more interested in BEING successful than simply LOOKING successful. But that’s a blogpost for another time!
2) Business owners are routinely, almost negligently, confusing tools for solutions. And that’s why they are working feverishly, chasing after this bright shiny object or that, and seeing no increase in sales.
Social media, of course, is the tool that comes to mind. I’m not a “hater”…. you all know I use it. And truthfully, I like using it. I like to see my SM numbers go up and admit it gives me a little thrill. But, the numbers I’m really watching have a dollar sign in front of them. =)
This means I must not only learn how to use the tools available to me, but also know how they work together and keep an eye on the foundational aspects of my business: My messaging, my packaging, my pricing, my capacity.
Tools are NOT synonymous with solutions. My dad is a general contractor. He uses many tools to accomplish the building of homes like this one. But what keeps the houses intact year after year, renter after renter and storm after storm is the SOLUTION he provides. This depends far more on what’s between his ears than in his hand.
The same is true for us! It’s time to go back to the basic fundamentals of good business. You’ll see the most profitable among us – regardless of industry – heading in this direction. How can you follow suit?
3) Finally, I learned that ALL things can be used to your advantage... and this does NOT imply that it is to someone else’s DISadvantage. This economy is like any other in several ways:
1) It is temporary.
2) It is full of opportunity… and obstacles.
3) Many will profit wildly within it.
4) Many will also lose their shirts.
5) You get to decide what YOUR OWN reality will be.
I can share with complete humility that back in 2000, I was suffering my own economic recession. No credit. No savings to speak of. Paycheck to paycheck. Money fears. You know, the full gamut of what we hear about today’s reality. So, for THIS recessionary economy, I chose to look for what I could learn, operate SQUARELY based on what reality is today, use it to MY advantage (and the advantage of those I serve) and adamantly refuse to participate in a recession of any kind.
Btw, my parents’ business is in one of the worst hit industries in the nation: Construction. And, times got really scary for a while. BUT, they continued to focus on the fundamentals (mainly: doing great work and nurturing relationships) and NOW, their company is going GANGBUSTERS! Congratulations Mom & Dad! =)
