Here in the USA we are facing an economic slowdown with consumer and
business attitudes becoming challenging. All of this is likely to
result in a reduction in spending. But,
this is good news for those with an entrepreneurial spirit.
This is exactly the time when people with solutions will quickly rise
to the forefront and turn circumstances to their favor. Here’s why:
needs are more pronounced.
As times toughen, the actual needs of your target group stand in sharp
relief to wrongly held beliefs, illusions, sacred cows, and even
day-to-day denial. With the receding tide, exactly what they need in
the form they need it in becomes more and more obvious. This makes it
an easy target. If you want to help your customers or members, now is
the time to identify exactly what will help them most.
felt need is more pressing.
Not only is it easier for you to see what they need, but it is easier
for them to see it as well. And as their self-awareness grows, their
desire to address the need grows with it. This urgency provides you
with the traction required to make real progress.
Results are easier
Results are always easier to achieve when everyone is on board. With
the confluence of your intent and their urgent attention, you can rally
the necessary partners for joint action. Further, when pain is acute,
relief is easier to steer towards. So, you have a good compass to make
a real difference. Lastly, things are easier to measure in times like
these because everyone is watching their bottom line so closely. This
means that the tiniest assuagement registers on the scale.
Real solutions are
When times are good, it is easy to get distracted by bells, whistles,
and other nice-to-haves. Now results matter. This is the best possible
situation for a good provider, because you have the goods.
There is a
willingness to sacrifice Sacred Cows.
Typically a chief obstacle for a service or product provider is getting
past irrational perceptions of their target group. Solutions may be
obvious, but there are ideas, customs, institutions that are
unreasonably held beyond inspection. An economic downturn puts the
pressure on and sacred cows are necessarily up for reexamination and
All of this means that your customers are ready to do
differently if the way can be shown. If you are doing your job of
providing a better mousetrap, they are primed to listen.
In coming issues of Monday Morning Mojo I will lay out some of
powerful elements for putting together an effective growth strategy –
what it takes to identify options, select those strategies that are a
best fit for your organization, and execute for results.
This is an exceptional time for entrepreneurs, a time to surge forward
by providing real solutions to customers and members who desperately
want them. This is the time that movers and shakers come alive. If
there were a bugle to sound for all those who profit through generating
real value, that bugle would be playing today!