“It’s how you choose to define those events or it’s how you let those events define you. Boom. One take. Boom. What do you think?”, Jeremy Delk shares in this video.
The best way to strategize or work through the strategies post pandemic is to take a step back and not get emotional about it. I mean, I think that’s the biggest component when you have scares or shifts in the economy. It’s not because there’s more or less money. It’s predominantly consumer confidence. So what I try to do is really focus on me. I don’t really worry about my competition, what other people are doing. What’s going on, what government or taxes are doing. I try to worry about me and serving value to my clients or my customers. And if you do that long term, you will probably outlast your competition. Go back to the basics of customer first, right? Look at your business, is there anything I can do to improve my current relationships, deepen the wallet, share, go deeper, not necessarily wider, but go deeper and maybe capture whether it’s a premium product or a premium service or converting a script subscription to an upgrade.
Look at what you could do to add value, to keep that customer and then go deeper in the wallet. That’s one piece. The second piece is understanding where the customers are fearing the fears that you may have. They may also have, right? So understand like, “Hey how does your product or service potentially help alleviate some of those fears”. Maybe you’re selling information technologies. And you’re showing a course of a doctor that is worried about his healthcare journey and wants to change a different path. Maybe you kind of show them alternate income streams. Maybe it’s a better service that you have higher supply of now. And that’s a big plus because of supply chain shortages. So really try to understand what the market’s doing to a degree. But what do you serve and how do you add the most value to your customers? And if you do that and focus on the customer and continue to add value and deepen that relationship, the noise and everything else, usually over long term will subside. I think a lot of times in these polarizing components with extreme ups and extremes downs, that’s where a lot of opportunities really lie. So don’t get scared to embrace it and figure out where you may be able to go through and differentiate yourself in that niche that you’re already in.