Let’s face it, the economy is a mess and we really don’t know how bad this could get. I’m not going to get into speculation and waste time inspiring you to make a change in your business. You’re here because you have the fortitude to make a change already.
We’re going to dive right in and examine the “Art of the Pivot” so you can take actionable steps right away!
What Does it Mean to Pivot
Pivots can be defining moments in your career (and really in your life) if done intentionally. Pivoting in business means that you are realistic, have courage and are a visionary. Pivoting means you understand that although you may have done something one way that produced results for possibly decades; you have the understanding that “times are a changin” and you need to change with it.
But, we need to be intentional with our pivot - and to do that we must do a deep dive into the foundation of our business and identify any potential cracks.
Step 1: Foundation
Now is the time to be honest with yourself and do the work must of us don’t like to do. It’s the work that we know in the back of our minds that we “should” do yet always bury it to the bottom of our lists.
This can include everything from organizing your inbox, cleaning up your google drive (dropbox etc), learning to use a new technology like Slack or Trello, updating your CRM, and ensuring your SOP’s (Standard Operating Procedures) are up to date.
Most of these types of activities are self explanatory, so I’m going to focus on SOP’s since I know for a fact that most small business owners do not have SOP’s let alone updated SOP’s.
A Standard Operating Procedure simply means you have documented all of your essential processes within your business so that your business can run like a well-oiled machine without you working in it.
The goal as a business owner is to create a business that doesn’t require you to be in the day-to-day but honestly without SOP’s you will never be able to achieve this within your business.
I have good news though - creating SOP’s doesn’t have to be difficult! In fact, it’s quite easy to create documented processes by recording your screen with a software like Loom. Personally, I prefer to hire and work with Virtual Assistants to create the SOP’s within my business. If you’re new to the concept of working with VAs, then I invite you to check out my Podcast “Clone Yourself” where I walk you step-by-step how to hire your first (or next VA) in the first 15 episodes.
Step 2: Messaging (Positioning) in the Marketplace
I’m generalizing but most businesses do not update their brand guidelines for years on end. Don’t let that be you! There is literally no excuse to not update your brand guidelines right now and truthfully we all must update our brand guidelines if only to stay relevant to the current economic climate!
Specifically, I invite you to take a look at your messaging:
- Does your messaging still match your target demographic?
- Are you positioning yourself in the marketplace to match the products and services you started offering since the last time you updated your brand guidelines?
- How can you position yourself to match the current state of the economy better?
These are but just a few of the questions you might consider asking yourself as you go through updating your brand guidelines. Keep in mind that I’m not suggesting you do a rebrand. I’m simply just inviting you to tweak your current brand.
Also, I do realize that for many small business owners you may not have brand guidelines. If you don’t currently have a brand guidelines, then you can download this template “Brand Guidelines” to make it your own!
Step 3: Team
The unfortunate truth is layoffs are abundant right now. With a heavy heart and consideration to those you may have had to let go, we both know that you still need help to offset some of the work your team members may have been doing.
What better time than now to explore working with Virtual Assistants?
When working with VAs, you don’t have an hourly commit of dedicated work hours per day/per week/per month and so on. This means that if you only need 1 hour of extra support a week, you can hire a VA for as little as one hour per week!
Now, honestly, you most likely will have more than one hours worth of work that you’ll need help with - but I’m just painting the picture to help you see what life might be like when working with VAs!
Maybe now you’re stuck doing invoicing or some other function of your business that you haven’t done for years or simply just don’t like to do. I suggest looking into working with a VA to execute these sorts of tasks! This would be a massive pivot in your business for those of you that do not currently work with VAs.
When things circle back to a new normal, you’ll be set-up to run a more lean, profitable and freedom-based business if you learn to work with VAs now. Make sure to check out my podcast, “Clone Yourself” to learn how to work with VAs.
AND if you feel called for additional support in your journey, consider joining my “Swag industry” exclusive mastermind group to learn more about how to run an efficient and freedom-based business (more on that here).
Step 4: Get Ready to GO!
Congratulations! When you get to step 4, you’ve done all the work and now you will be ready to go when things get back to a new normal. However, there’s one thing we haven’t covered. How to open doors despite a recession or even a depression!
I’ve built out a completely FREE training that teaches you how to open doors no matter how bad the economy is. Click here for the FREE masterclass!
The secret is content creation, whether it be podcasting or anything else. In this training, I show you the exact steps you’ll need to take to use content creation to open doors. So many people fail out monetizing their content because they aren’t intentional about whom the content is for and how they will utilize content to open doors - don’t let that be you!
Click here to register for this completely FREE training :)
Final Thoughts
Keep the positive vibes, continue (or begin) to eat healthy, find a new exercise routine and if you feel the curiosity to meditate or do some other practice to go within then definitely listen to that whisper and give it a go!
We are all in this together, we will be stronger because of what is currently going on and I can assure you that if you are intentional about your pivot; you will rebuild your business!
If you want more, feel free to schedule a FREE 15 minute strategy call with me by clicking here :)
To Your Success,
Sam AKA SwagSam
Sam Kabert is the creative director of SwagWorx and the creator and co-host of the podcast “WhatUp Silicon Valley!” A risk taker who embraces permanent beta, Sam is leading the transformation of his family-run office supplies business into a promotional products powerhouse. Sam can be reached at Sam@SwagWorx.com.