Is the Pandemic a Good Time to Focus on Business Growth?

Updated: Nov 17, 2020

We’re all struggling to create a “new normal” in these unprecedented times, and entrepreneurs are no different. Unfortunately, many entrepreneurs believe that while they work to establish new routines and working styles, their business has to remain stagnate. Nothing is further from the truth. I like to refer to the pandemic as the “apocalypse du jour”. It’s just the latest in a never-ending series of crises. There have been many before this one ­– the bubble bursting, the housing crisis, Brexit – and there will plenty afterward as well. When you put things into perspective and realize the world is not ending, you discover that NOW is the perfect time to grow your business.

This is Spring, Not Winter

Many entrepreneurs view chaos as a sign to go into winter mode, meaning they shut down. Instead, I encourage those I work with to view this time as the spring season. It’s not a time to hibernate, but a time to sharpen your tools and plant the seeds that will blossom once the chaos passes. What form this comes in depends on your unique situation. Maybe you use this time to take a course on entrepreneurship, like our True Money Mastery course. Or perhaps you decide now is the time to work with a business coach who can help you achieve loftier goals for your business. Use this time to put strategies in place that you can easily execute at the right time and you’ll be far ahead of your competition.

Many of Your Competitors Will Be Hibernating

And why will you be ahead of your competition? Because many of them will be doing exactly what I advised against: treating this time as winter and an excuse to hibernate. If you’re running your business like a real business, you’ll be focusing on every part of your process that can be tweaked or improved at this time. Have you identified that you’re not getting enough new clients? That your customers don’t pay their bills on time, reducing your cash flow? That your team has become overpaid and underperforming? Now is the time to fix it.

This Too Shall Pass

Like all the other apocalypses, the pandemic will eventually pass. If you’ve been focusing on sharpening your tools, getting your finances in order, and planting seeds, you’ll be in a position to achieve explosive growth once it’s over. While your competition is focused on coming out of hibernation and rebuilding, you’ll have everything in place to hit the ground running. This allows you to grab opportunities that your competition isn’t positioned for and secure market segments that weren’t attainable before the pandemic.

When it comes down to it, getting through the pandemic (and all the crises that have come before and will come after) is all about mindset. You can either see it as the apocalypse and shut down, or you can see it as an opportunity and take advantage. It’s your choice.