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How Your Business Can Thrive During These Uncertain Times

When there is a need, create the solution

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Staying relevant can be a challenge in this fast-paced world.

You either pivot or fail.

When there is a need, create the solution.

The first car was created in 1885; the idea started formulating in 1769. People said it would never go faster than the horse and did not invest in Henry Ford’s car company. Even years after proven success they still did not invest in the car and were fixated on saying the car will never take off, even when it does. We are not heading into the next phase driverless cars. There are so many sceptics who love their cars, and independence but the technology is still advancing.  Industries will continue to advance technology  and wipe out many jobs, but new ones will be created. We adapt or die.

 “The internet is a fad and will not last.” “Facebook is just for kids.” Now Facebook is the way to do business. If you are not doing business on Instagram or Facebook, you are leaving money on the table and doing those that need you a big disservice.

People now look to see your Facebook page first to confirm your credibility, along with your website. You must have both; they reach different markets if you want your business to reach beyond your wildest dreams.

Marketing or brand development is done on Facebook or social media, sales are done in emails and phone calls.

Companies who changed the industry – do you remember?

Napster, founded in 1999, was a pioneer in peer-to-peer file sharing that allowed people to download music for free. Quite controversial, the music industry was changed forever.  The music industry did not understand that the needs of the consumer had changed with technology and went on the offence, and made it illegal to download files. Once the companies caught up to the needs of the consumer, they shifted and adapted.

The music industry once tried to close down Napster, block file sharing, and started fining people, until they realized how they could monetize and transform the industry themselves. Fast forward to the creation of Apple Music and Spotify and what they have done. Big business took over.

Facebook is another example of a company created out of the need for students to connect while studying at Harvard. The need was there, and the product was created. Facebook grew at such an exponential rate; they had to figure out how to monetize and stay relevant to constant change, or they would become the way of the horse.  At first, I didn’t join Facebook for several reasons:

1.      I am not a joiner or large group person

2.      I like my private life, to stay private

Facebook was a movement and if I wanted to stay relevant, I didn’t need more one-on-one clients. For my courses, I needed to expand my reach and let people know what I had to offer.

When I finally joined, I had so many people who needed my service find me because of Google and Facebook. I had the ability to reach people who were in physical pain or had business challenges, as well as students for my courses.

Change Is Uncomfortable

Individuals don’t like change. You see that all the time on Facebook. Every time they change how your cover page looks, people get upset, and then they settle in. Facebook does this to keep it fresh and always improve their product out of the need and requests from its members.

The firsts or the pioneers create a shock wave. They are punished, and then mainstream or big business takes over.   This has been the pattern in business for generations.

The secret is to find a solution to people’s pain or needs. What is their pain point? What can you offer to resolve that? This is often rooted in a personal experience which gives you passion to create.

The ART of Success

How do you become the next Facebook?

1.      Create the idea

2.      Take action on the idea

3.      Monetize idea

4.      Sell the business

It is not optimal to think of creating a business to sell. Create a business because it is a solution to someone’s problem or pain point is the foundation of success, along with a solid business plan.

The secret of success is creating a strategy and a process that can be recreated time and time again.

Instead of asking yourself, ‘how will my business survive these uncertain times?’, ask ‘how can I adapt to this change and thrive?’.

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