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Elephant’s Continually-updating Coronavirus Diary. ~ Waylon
Let’s cut right to it—if you’re reading this, you’re an entrepreneur freaked out about the state of the world.
Now I’m not going to lie, it won’t be a cake walk, but with the right strategy, mindset, and work ethic making more money is easier than we might think.
We’re all asking these questions right now:
>> What does this crisis or recession mean for my business?
>> Will I be able to get new clients or keep my current ones?
>> How can I sell my offer without feeling insensitive right now?
>> How am I going to protect or grow my business if people aren’t spending money?
Your worry feels endless. But here’s the thing about worry: it’s misguided energy. We may not be able to control what’s happening in the economy or markets, but we can absolutely control our reaction to it—and how we pivot our businesses to be smarter, not harder. It is fully possible to grow a business during a recession.
Historically, some of the world’s most famous companies started during the 2008 recession: Uber, Snapchat, Venmo, Pinterest just to name a few.
We’ve entered into a totally new climate, and that requires businesses to change along with it. Because you either stay relevant, providing a needed solution, or you fall to the wayside.
Who’d you rather be?
I want you to know more than anything right now: you are not alone, you do not have to stop chasing your dreams, and you can still have massive success in your business.
You might be wondering, who is the girl crazy enough to tackle a global pandemic and economic downturn for the online coaching and entrepreneur community? That’s the funny thing about building a business: no matter what background, timing, or economic situation you start in, people will always call you crazy for starting a business—and I am no different.
In 2017, I quit my corporate job with the biggest brand in the world because I was totally depressed. Seven days before my 27th birthday, I caught a glimpse of myself in the mirror and thought, “This is it. You’re either going to commit to this life, pleasing everyone else, or you’re going to quit and figure it out.” That day, I quit my job and never looked back. I started teaching yoga, but after blowing through my savings in six months, I knew there had to be a better way.
I had amassed about 20k followers on Instagram accidentally and began to monetize that through Influencing and online coaching. Fifty one-on-one clients later, I developed my first high-ticket program and soon after, was inundated with requests to share how I had built an audience and a profitable business on Instagram.
We’re all feeling scared and even confused right now. There is a global pandemic sweeping the world; a new virus that has our communities on lockdown, our stock market crashing, and our government reacting. So what’s actually happening? As of April 2020, The White House and Senate struck a historic deal of a $2 trillion coronavirus stimulus bill—the largest rescue package in American history to combat the economic impact of the outbreak.
While final terms have yet to be released, reports assume that there will be cash payments to support families, along with a $350 billion fund for small businesses to mitigate layoffs and support payroll.
Right now, people are scared of a contagious virus and the economy is heading into a recession. The world is on lockdown.
People are confined to their home with no idea of how long this will last.
People are fearful of losing their jobs (millions have already); society is working from home for the first time.
Normalcy has been totally disrupted—schools, gyms, restaurants, beaches, public places have all been closed.
This is an entirely new reality for people, and it happened seemingly overnight. Everything that we do right now as business owners needs to address this new lifestyle. Now that we know the new post-crisis landscape, the absolute best thing that we can do is to funnel this down into the eyes of our customer or ideal client.
Everything we do as entrepreneurs—whether that’s as a coach, course creator, consultant, or something in between—is to solve a problem that our customer is struggling with. So with a new reality comes a whole slew of new problems that we have to address if we hope to continue making money, helping people, and growing our business during a time like this.
Over the last few weeks, we’ve had five years of evolution. The shock of it all is going to wear off in the next couple of months, and people will do anything to find some kind of resolution, growth, and meaning out of this global pandemic. So while the government is bailing out the economy, people have lost income sources, and the fate of the world seems uncertain. (We actually expect a 5-30 times growth in the online education, coaching, consulting, and transformation space.)
Now is the time for us to go all in. To get in control of our time, money, and opportunities. If everyone is just reacting right now—how can we respond mindfully or create a framework to teach people how to do the same? It’s this kind of thinking that will allow us to grow our business right now.
Be a beacon of light at a time when people want more than ever to be better. Being transparent and open with what we’re doing and why we’re doing it is crucial.
This is a time to act fast, and have our sights set on the long game.
There are millions of people who want to expand, not shrink in this climate.Knowing this is what allows us to find motivation while others are unmotivated; it’s what gives you momentum and significance while others wonder how they’ll make it. There’s no hiding around how serious this situation is, and that’s exactly my point.
Who are you to hide right now? There is a world of people who need your gifts. There is a community that wants to grow, learn, and expand. If you can reach even a tiny fraction of those people, your business has the ability to hit six figures or surpass it.
When things change really quickly, there is what I call a “shake to awake” effect. People have been shaken and awakened right now, and all we have to do is see past the fear to understand what they want, give them what they need, authentically capitalize on the massive opportunity in front of us, and help fix the global consciousness while we’re at it.
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