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The opinions of the employees of You are personal.
At this point, as an entrepreneurial friend who owns a Small and Medium Business (SMB), we’ve all received a tsunami of information about the SARSCoV2 coronavirus and its impact on health and the economy, not to mention its impact in the The next period will be noticeable for months and possibly years.
I have the opportunity to belong to different groups SME owner and business coaches who specialize in small and medium-sized businesses in Mexico and the United States, and what I have observed since this extraordinary situation began is that the importance of entrepreneurs who pay close attention to their status is mentioned again and again. mentally.
It is normal for the insecurity we all experience – health, social and economic – to give rise to thoughts and feelings of fear, anxiety, insecurity and stress, among other things. The vast majority of people, not just in Mexico and Latin America but around the world, have these thoughts and feelings. So we need to be very aware and take steps to reverse the effects on our minds.
This is your brain in fear
First of all, I want to share with you what happens when we have thoughts and feelings of fear and fear. Scientists have discovered that the human brain is mainly divided into two parts: the primary brain and the secondary brain. The primary one is the one that controls all unconscious functions of the body such as breathing, pumping the heart, and other vital functions that we perform without thinking. This organ, also known as the reptilian brain, was the first to be developed by humans.
On the other hand, we have the secondary brain, which is responsible for rational functions such as thinking, recognizing, deciding and analyzing. This brain was historically responsible for keeping us alive when we were in the time of the caves. However, when our ancestors wandered the jungle or prairie and suddenly encountered imminent danger as a predator, the brain immediately took control of the situation by turning off the secondary brain. Why? In these moments of crisis there was no time to do an analysis of the situation, so chemicals like adrenaline were released, which put the body under tension in order to run out of the dangerous situation.
The problem we currently have is that even though we are no longer at risk of being eaten by a lion in the jungle, the primary brain (reptile) continues to function and when we have negative thoughts or feelings, those of the secondary Brain (which are generated rationally) the reptilian organ begins to do its usual work. No distinction is made whether the danger is a lion or a fear of why you can’t pay your company’s payroll. The primary brain simply receives the signal, releases chemicals in the body (which can later affect your health if not properly processed), and in turn tries to shut down the rational brain.
Because of this, the chances of making wrong decisions are very high when we are in a state of fear and stress because our rational brain is not working 100%. On the contrary, it is tempered by the secondary brain.
How to tame the reptilian brain
These moments are the most CRITICAL It is important for you to maintain a positive and proactive attitude and to be careful about the type of thinking you are generating, as it can make you make hasty and wrong decisions. Here are some recommendations and options that can help you:
- Do positive mental exercises
- Pray (depending on your religion)
- Choose what kind of information you want to use on social networks. Don’t overload yourself with information about the coronavirus.
- LEARN TO ENJOY THE CHALLENGES
Apply the 80 percent rule
On the other hand, it is very important that at this point in time you spend 80% of your time thinking about how you can generate sales with new products and services or new sales channels. What most SMB owners do in a crisis situation is just the opposite: they spend 80% of their time thinking about how to cut costs and expenses, but that’s not what is really going to help you move forward in those moments like this many challenges. Spend most of your time generating new income.
How you do that?
1. Set up at least three meetings: 30 minutes to 1 hour long meetings per week for brainstorming to generate income immediately. You need to hold separate meetings, one only for ideas for new products or services and another meeting for ideas for new sales channels to market your product or service.
What will the format of these meetings be?
A. The first 20 to 30 minutes people share their ideas. Ideas are not judged, only written.
B. Next, you need to rate the list of ideas on three criteria and give a score of 1 to 3 for each idea for each criterion for a total of points, with 3 being the highest score. These are the criteria for evaluation ideas:
I. That they generate income as soon as possible.
II. Make it the easiest to get started.
III. That requires the lowest possible investment.
C. Depending on the qualification according to the criteria mentioned, it is determined which ideas are to be implemented, limited in time and who are responsible.
D. Execute the idea.
2. Next I share a series of questions KEY As the owner of your company, you can do this again and again and share it with your team. You can ask these questions at a different meeting than the new product and / or service meeting and the new marketing / sales channel meeting:
- How is the COVID-19 situation affecting my sales today?
- What could I do differently and even use the situation positively to find new ways to sell and deliver my product / service?
- How can I speak to my customers to find out what products and services I can currently offer them to help them?
- What is the basic need that our company places on our customers?
- What has changed for our customers with the COVID-19 situation, a list of 5-10 things that have changed or do you ask your customers directly?
- What has not changed for our customers in the current situation, what needs do they still have that I could satisfy in a different way than before?
- What other problems do my customers have that are unrelated to my products or services that I can help them resolve?
- How can I stay relevant to my customers during these times and keep the relationship going if activity is reactivated?
It is very important that you set up these weekly meetings 2-3 meetings per week from now on. Sometimes many ideas don’t come up, but don’t despair, the brain works in very strange ways, sometimes people have good ideas and others don’t. The most important thing is that you do this meeting, this exercise, every week.
Finally, I recommend that you do not participate in the wait and survival game while everything is back to normal. It is a very dangerous and risky defensive game as nobody knows exactly when things will go back to “normal” and when this will happen, how long it will take for economic activity to re-establish itself. Play the offensive: new products, services, marketing opportunities, etc. That way, the only problem when things get “normal” back is deciding whether to continue with your new business model and the old one or both.
And remember to take good care of your mental attitude.