Minimizing Business Disruption and Developing a Recovery Plan from the Coronavirus
As entrepreneurs and business professionals, we are forced to deal with difficult situations every now and then, but never like this. Currently, we are in the middle of the Coronavirus Pandemic. If you are like most people, you are attempting to navigate through an unknown zone. First, a leader must be strong, shift into business unusual mode, and lead the way.
As leaders and professionals, remember your IMPACT upon your team, family, and community. The responsibility to take care of family, employees, clients, and your business is huge, but don’t do it alone.
This article contains M.A.P.S. to help you navigate through this pandemic.
We are all faced with business disruption and a health crisis that threatens your well-being as well as your business. A double crisis, financial and health, is extremely rare but that’s what we have to address now. Mindset will play a huge part in how you come out of this condition. You have options: you can let fear paralyze you or you can stay in control and turn lemons into lemonade.
You have been through difficult situations before and you overcame them. You will overcome this as well. There is a light at the end of the tunnel. Now is the time to get super creative and take time to come up with a strategic recovery plan, so you can emerge stronger than ever before.
You are allowed to take some time to feel angry, be unhappy or stressed, but move on. You are a leader, start leading. Many people are counting on you; your team, your clients, your family, friends, etc. This is not something we can brush under the rug. We all need to face the facts of where we are now. Be proactive rather than reactive.
Control your vision, your self-talk, and your thoughts. Stay positive. Negativity will get you off track. Remember what you think is what you become. “If you think you can, you will, and if you think you can’t, you won’t. Either way, you are right.” Zig Ziglar.
Now is the time to assess your current situation.
The state of your business, your financial picture, your reserves, financial commitments, cash flow. Know where you are financially and make necessary adjustments to float. Renegotiate big expenses to buy you time. Apply for the financial federal programs available to you.
Use your time wisely. Take this opportunity to train the team via webinars so you can improve their skill level and recover stronger than ever before.
Know your legal guidelines and responsibilities as far as your employees. Remember just because you are closed doesn’t mean you don’t make money or don’t need employees. We have clients who are generating thousands of dollars now from conducting online consultations and webinars. Decide which employees can help you market and conduct the online consultations so you are able to generate revenue to help you through this difficult time.
Assess now, don’t wait. Be flexible and make adjustments to navigate through this crisis.
1. Plan to Minimizing
We know that every business is a little different. The following recommendations may need to be modified depending on the type of business you have and the location in which you live.
New Client Relation Options
Launch new online consultation programs.
Online Consultations Take your business online. If you want to begin offering online consultations, you want to do it properly. You will need to come up with the overall strategy. Who will do them? The marketing campaign, marketing material, and your presentation in order to launch properly. Some clients have implemented the new W.E.D.A.R.E. Online Consultation System and are generating thousands of dollars in sales by selling products and treatments.
DIY Trends Have fun and connect with DIY videos that you can share with your community. Show them how to do treatments and skincare products at home.
Set up a Zoom account or Skype and begin an online platform to continue communicating and helping your community.
2. Adjust Your Marketing
Improve your positioning via consumer education.
Why do they need you?
How can you help your community now?
How can you stand out?
Share your voice with videos. Launch a series of educational tips such as, how to deal with stress, strengthen your immune system, eat healthier, have better skin, etc.
Amplify your contribution on all social media platforms.
You have an opportunity to expand your community reach by implementing some of these educational and helpful tips to your community members.
Success with the Right Recovery Plan
You will recover from this because you are strong. When you set your mind on doing something, you can do it. But you need a right recovery plan to relaunch your medi spa with a big bang.
Now is the time to plan your future success. One thing I noticed in working with clients, it’s time to work on their business instead of working in their business. Take some time to assess your menu, dive into your financials, identify your bestselling treatments and products. Look at what is not generating revenue and determine whether to modify or eliminate it. If you don’t currently have a membership model, it is a must. Many of our clients are surviving easier now due to their monthly reoccurring revenue. Introduce a new revenue generation strategy. Set your goals, train your team, and plan your future success.
It is Business Unusual
In summary, don’t feel that you are alone. At times like this, it’s good to speak to a mentor or a coach to gain professional advice and guidance. Utilize your resources and seek out help. Be strong and make a great impact now!
Complimentary Success Resources
The Global Med Spa Association (GMA) has a new navigating video series, M.A.P.S. to help you design a Successful Recovery Plan. You are invited to be part of the Global MedSpa Association. Register for Free at GlobalMedspaAssociation.com