Adjust Your Strategy: You started 2020 with a great plan and as of March, it's flipped upside down. Unfortunately, we all can relate, but its a reality we must face, respond and move forward. The only thing constant in small business ownership is change, and this won't be the last time. One of the benefits of being small is that we are flexible and can adjust quickly. So let's do it!  The sooner you do, the better off you will be. To help you get started, Strategyzer''s business model canvass as a framework is a helpful FREE tool. 

Communicate Your Unique Value: At 37 Oaks University, we teach a course called "Defining YOUR Unique Value. Now more than ever, it is critical to know this as customers have more layers in making a purchase decision vs a few months ago. Also, everyone is competing extra hard for the reduced income they have. To break through this clutter and make that sale, it is your responsibility to get clear on your value and bake it into all your marketing, communications and experiences. 

Change With Your Customer: You know that your finances, influences, motivations and behaviors have recently adjusted. Well so have your customer's. Take at least one hour today to assess this as it will impact how to connect, engage and ultimately to sell them. Your findings from this exercise should be considered in all your marketing, communications & experiences. To get you started, take a look at this Empathy Map framework. 

Adjust Your Product Offering: Understandably so, economics are a primary reason why customers buy different. In staying on the "Engage with Empathy" theme, you need to understand how the current environment impacts what products they will want/need to buy. It may shift to a different price point, size or benefit.  As a manufacturer, this shift may impact the ingredients you use, designs or features.  

Adjust Marketing Strategies: With all of the economic changes, your marketing strategy needs to change as well. What you did in the past, probably will not work.  1) Leverage your position as a small, local, woman or minority owned business. People know & understand the Coronavirus impact on small businesses, so help them support you. 2) Stay engaged with education, information, DIY advice and tips. If they can't get to you right now, help them maintain until they can. 3) Stay positive, there is alot of gloom & doom already going around. 

Diversify Your Sales Channels: In these trying times, the only thing constant is change. Suspend all disbelief and explore different channels of selling. Despite what you may have tried in the past that did not work, revisit it again. As decisions are made on how our economy will adjust, any one move can dramatically impact one sales outlet. Find different channels that are simple, quick, low cost and give the best ROI (online marketplaces, delivery, curbside pick up, shipping, Live virtual shopping events, etc)

Financial Planning: Public & private organizations are developing solutions to help small businesses & entrepreneurs get through this pandemic. Although it may feel overwhelming, make sure you research & leverage EVERY potential opportunity. Lean on your banking partners & community organizations, and do not discount an opportunity because it has not worked for you in the past. Begin to organize information about your business so you can quickly apply & answer questions when the time comes. Last but not least, focus on cost cutting. Contact creditors, make arrangements and be as transparent as possible. Think about how much you need to cut in costs, and how much you need in income to last for at least 3 months. 

Organize & Plan: The hustle and bustle of owning a business means some of the details and organization may fall by the way side. Not at all saying that you have extra time right now, but if you do, take this time to get things in order. Clean up your databases; start a database; write that blog; catch up on articles; attend free virtual courses in areas where you need improvement; innovate on your product and operations; research free tools to help you operate your business. 

Mind, Body & Soul:  You have invested so much time & energy into you business. Although many of us are uncertain and stressed, it is important that we will all make sure we allocate time to practice overall wellness. It is tough when the body is in panic mode to make clear decisions. To help, connect with like-minded people, allocate time each day to meditate, find virtual accountability partners and commit to practice good habits.