You run a tight ship, and when possible, you cut costs.
But now an order has come down (coronavirus), decreeing that you must find an additional 10%, 20%, or even 30% in cost reductions.
What do you cut?
I started to think about ways I can adapt and grow my business owner in response to crisis, recovery, and post-recovery. So, rather than taking defensive moves, I’m thinking positively, and I know I’m going to emerge stronger by innovating.
Hold onto hope. The movement of people and goods, production, and confidence will always be in flux. So, use the crisis as an advantage.
I decided not to cut a single thing for now.
Instead, I decided to continue building my brand, maximize the use of the tools, apps, and software I already own and add additional income streams.
- Collaborate with others who serve the same audience.
- Use affiliate links when possible.
- Start shifting the majority of my business online.
Collaborate with others
What do I mean by collaborating with others? I suggest promoting each other, exchanging resources, tools, leads, doing interviews together, appearing on each other’s videos, etc.
For this to work, we need to share a similar audience. FYI. My ideal client is not the soloprenuer, is one that that has at least two employees.
- Makes a marketing commitment – one that understands that marketing is oxygen for the business.
- Has a marketing budget and gives me creative space to make adjustments as necessary within the budget.
- Is open to trying my marketing suggestions.
- We meet once per month through a video call (or more if necessary) to go over what went well, bad, and what we are going to do to improve next time.
- Pays right away when an invoice is sent.
- Prioritize family time over work.
- We can talk for a while without feeling awkward. Typically we have to set and stick to an agenda to a productive meeting. 😁
- We support each other beyond a monetary exchange.
Some people believe that using links that you can earn a commission is not right. I think it is. Firs and most important. The customer pays the same amount of money, and not a single cent more. And in some cases, the customer ends up with additional bonus items.
Second, you know what smart people say, “Make sure your eggs aren’t all in one basket” Well, it’s true. Create multiple income streams. Amazon is my go-to, but there are plenty of affiliate sources. Check out this page https://www.angelanderson.com/affiliate.
Shifting the business online.
What it takes, for us to start shifting our business online? It means minimizing recording videos for events, client testimonials, etc.
It means doing more virtual events. It means providing marketing consults through video calls. (Schedule a video call with me). It means to focus on providing service online, sell a digital book, or training, and create a physical product that can be sold on Amazon.
What can we sell online?
- Physical and digital books on Amazon and our websites.
- Marketing advice/consultation via video calls
- Marketing coordination – social media marketing, website promotion, interviews, livestreams, and this can be done remotely!
- Smarketing reminders – Sell pdf version
- Smarketing reminders – Sell text version
- Social Media Day Brooksville virtual event
- Increase income from YouTube, Amazon, and Facebook.
Read this blog post if you own a website https://www.angelanderson.com/make-money-online/
Programs I have, and I want to use more.
- Ecamm live – for livestreams, interviews, and tutorials.
- Speakpipe – to receive voice messages
- Google meet – for video and dial-in group meetings
FYI. These are the 35 apps I use the most right now https://youtu.be/SrLbvIF4q3Q
In my home office, I stopped using the “professional video camera” for the webcam 😁 because speed is what matters right now, and I need to avoid getting distracted.
What about you, have you look what you already have? Or what changes have you implemented or looking to implement in your business?