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The Trusty Oak Blog

Use This Time to Focus on Your Business Growth Instead of Fear

March 26, 2020

Written by Dan and Amy Mantineo

The last few weeks have felt like months, and in times of uncertainty, it's hard to know how the world is going to change. When we are unsure of what to do, it is so easy to fall in and follow the masses.

We see members of society hoarding supplies such as hand sanitizer and toilet paper. Businesses, large and small, are analyzing their operating costs, canceling events and projects and even starting to lay off employees. The fear is setting in. It is normal to wonder if you should follow the actions of others as you worry about your own business suffering financial impacts.

Related: How to Recession-Proof Your Small Business

Focus on Business Growth, Not Fear

Is it possible to shift your mindset to how you can use this time to grow your business? How can you use this time to focus on the parts of your business that have maybe been overlooked or neglected as you concentrated on your product or service?

1. Use This Gift of Time 

Growing a business is hard work! Perhaps you have spent most of your time locked in on the day-to-day challenges that come up. Maybe you find yourself always putting out fires and find you have little time to sit down and think about your company's goals, objectives, and strategies.

Now could be the perfect time to take a moment to think about the bigger picture for your business. Sit down and think about your goals and visions. Create your company roadmap. Create Standard Operating Procedures (SOPs), write clearly defined roles for employees and leaders within your organization, come up with a clear marketing and social media plan, think about new products and services you might offer (more on that to come!).

Use this time to organize and plan for the future success of your business and use your virtual assistant and other members of your team to help you achieve these things. Come together with your teams to strategize for the future.

2. Dig Into Your Creativity

This can also be a time to get creative! How can your business serve the needs of people in the here and now? Can you shift what service or product you're are offering to fit the current environment?

Fitness-oriented businesses are rapidly trying to shift to online training programs and virtual classes. Restaurants are trying to stay afloat but pivoting by expanding delivery services. Real Estate agents are offering virtual showings. Pivoting your services could be a way to not only stay afloat but thrive in this rapidly changing economy.  

3. Build Relationships

Finally, what can you do that will grow relationships with people, even if it is not directly related to your business (maybe it's a referral) so that when things normalize, they come to you for your service? It is estimated that between 50 and 74% of our population is extroverted and, in a time of isolation, are craving connection. Use tools such as LinkedIn and Zoom to expand your connections and have introductory meetings.   

This time of uncertainty does not have to be a time of fear. Pull your team together, along with your leadership, to create a vision for the future of your business! 

We can help you stay calm and plan confidently. Learn more about our custom financial plans! 

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Dan Mantineo is currently a Director of Operations as well as a Leadership Coach. He has been involved in technology for over 25 years and has been in leadership for the past 11 years. His expertise is around high performing teams, coaching, hiring, and technical strategy.  

About the Author

Amy Mantineo

Amy has worked in many different industries and has been a small business owner. These experiences have allowed her to develop strong skills in administrative support, real estate and property management, customer relations, and event and project management. Amy has proven to be results-driven under any circumstance, and she is determined to overcome any challenge she faces. She excels at organization, communication, and streamlining processes. Through her time as a small business owner and her other past positions, Amy has developed a keen eye for refining processes and supporting sales growth. Amy’s past experience includes over four years owning and operating a small consignment business and managing enormous semi-annual sales.

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