I hope you’re staying safe and healthy.
Here we’re more than a week into the second quarter of 2020, and I find that I’m a bit paralyzed.
Coming into the year, I had a plan. But that’s all gone.
I had a schedule for how I wanted launches and marketing to go this year, but with the pandemic shutting things down in economies around the world, I’m rethinking everything about my business…
Do entrepreneurs still need this service? Is it priced correctly?
Should I offer a promotional discount to those most affected? Will offering a discount upset off my current customers?
Should I change pricing across the board? Should I just throw my hands up and move on to something else entirely?
Should I double down on growth and really concentrate on increasing membership?
Should I add new products to the offering? Should I focus on promoting the coaches more than the community?
Should I sell off parts of the tech stack? Should I focus more on the white label business?
So many questions…
Zero answers (yet).
Like any business, there are no right or wrong answers, even in a pandemic. The truth — if it can be called that — will be somewhere between what customers are telling me is right for them and how well I can execute on that information.
To add even more uncertainty to the mix, we’re facing perhaps the greatest economic downturn in modern memory.
Being content in the day job hasn’t worked out very well for nearly 17 million humans in the US (and counting), and it probably won’t work out very well for me much longer. Adding to my list of business questions is a growing unease that my day job (and the entire economy?) are sinking under our feet.
That’s just great. You’re a real ray of sunshine here, Ken.
How is that going to impact you and your business? Hit reply, let me know how you’re doing in all of this.
Below are some articles that I found helpful recently.
Until next time: stay safe, mask up, and wash your hands.