Updated: Apr 10
We're in a situation next to none of us had prepared for. Did you have a contingency plan for a global pandemic that tanked the stock market and froze the economy? No? Me neither.
People are seizing up on their finances, and that makes perfect sense. I think it's healthy to realize that Q2 of 2020 may not be our most profitable quarter ever (and I think it's ok to grieve that a bit, too). We can still keep things moving, though. We all have a laundry list somewhere of all the things we want to do for our business but don't have time for. Well, now's the time to tackle them. Here's what I recommend in particular.
1) Get clarity
In this hibernation period, dig into some of the fundamentals. Even if you've tackled them in the past, it's always good to refresh what you're building upon.
Identify your ideal client. Get into their head with an Empathy Map. Do target market research to learn more about them and figure out the optimal channels for reaching them.
Revisit the mission, vision, and values for your business. Is this something you've taken the time to clarify? If so, when was the last time you redefined it? Has your business changed since then?
Getting clarity on these foundational pieces makes everything else flow. This is exactly why I ask for completed brand messaging before starting on a client's website copy—with a defined brand voice, mission, vision, values, tagline, and content guidelines, the copy rolls off without a hitch.
2) Get vocal
At Moxie, we advocate for speaking your mind in your business. This is a great time to practice.
Reflect on what you stand for in your business, noting that it may differ slightly from what you stand for personally. Seek out some partners who agree with you. Make it clear on your social media channels and website what your values are and act on them when it's timely.
For example, if you value environmentalism (as I do), you could use this time to post about the positive environmental effects this pandemic is having on our earth. You could ask people to think about the difference in how they live now versus "normally" and to examine what they could do differently for the benefit of the planet.
If you value minimalism, you could talk about how our sudden drop in purchasing is forcing us to live more minimally. You could ask people to reflect on how that makes them feel, or if they can't wait to get back to shopping.
If you value the small business economy, you could offer suggestions for supporting local businesses.
These are all off the top; I'm sure you'll come up with much more interesting and impassioned ideas aligned with your beliefs.
3) Get comfy with DIY-ing it
A lot of the things we hire out for are tasks we don't understand. Normally, I'm 100% on board with this; it's a better use of your time to do the things you're great at and hire someone else to do the thing they're great at for you. With a slow in revenue, you might be tightening the purse strings. This is a great time to watch some YouTube videos and a Lynda course or two and finally figure out that thing you've been putting off for a while.
There's quite a bit you can dip a toe into online these days: Google analytics, email marketing, social media marketing, general graphic design, etc. I'm not saying you should do all these things yourself when things return to some normalcy. Each field is immensely complex and I strongly recommend hiring out for the things you don't like and don't have time to do. For the time being, you might have more time on your hands than you'd like, making it a great time to get a surface-level understanding. After you do a little yourself, you'll be able to decide whether or not it's something worth investing in on a larger scale.
We created the Write With Moxie product line for exactly this reason.
Check back frequently to this page—we're working our tails off getting more affordable resources up for you. If you have any requests or questions, please reach out. Your opinion matters more than ours, after all!
For more advice on bootstrapping your business and getting your finances in order, attend our free webinar. Moxie Founder Ali Weeks is teaming up with Wendy Wright, LMFT & Financial Therapist, to host an open conversation about adapting your small business to the new COVID economy. We'll hold space for conversation, offer tangible ways to keep your business afloat, and give you recommendations on writing your own copy. Find all the information here.
Lastly, the only thing that will get us through this tough time is each other. Lean on your community. Start a conversation. Host a webinar or conversation via Facebook or Instagram Live. Reach out to us with an idea for a collaboration.
We're in this together, even if we're apart.