Real Estate

3 Strategies To Grow Your Business In A Time of Crisis

If the pandemic has taught us anything, it’s that we need to be versatile. It’s absolutely vital for us to use this time to create and represent a powerful pivot in our businesses. Here are three strategies to help you do just that.

If the pandemic has taught us anything, it’s that we need to be versatile and able to adapt our business whenever the market or economy shifts. It’s absolutely vital for us to use this time to create and represent a powerful pivot in our businesses.

In order to do this, you need key exercises to identify your strengths and create clarity around expanding them. Let’s explore three strategies that can allow us to grow out of a time of crisis or out of a time of opportunity.

Lead with confidence

Right now, we’re all facing a dark place in front of us. In order to have a successful business, you need to be one of the people who walks out into the dark and takes action.

All peak performers, top producers, historic figures and more notables had something motivating them to force them to walk out into the dark and take action, even if the odds were against them or it was potentially dangerous.

There are two things that we need to do really well in order to step into a dark place with confidence right now. The first thing is that we need to know who we are and what we stand for, and the second is that we need to know what we’re great at — and we need to own it.

We need to know what our values are, and if our values are in alignment. If you set goals from that place of alignment, you will feel fulfilled and connected once you reach them. If you set goals that are not in alignment with your values, you will feel stressed and create sadness. You will fulfill those goals but feel empty or burned out.

Your values are your unconscious drivers. They are your strongest roadmap. Whether you like them or not, they are dictating how you live your life.

We also need to know what we’re great at, as this will allow us to build our businesses, be energized and feel connected. If not, you’ll be doing all the work you’re not so good at, which will end with you being exhausted. Less energy will make your insights and your business less influential and productive.

Increase efficiency and productivity

Winston Churchill once said, “Never let a good crisis go to waste.” I hear that and say, “Never waste a good storm.” Tension always cultivates a need to focus, which is invaluable to any agent. In fact, the longer you stay in that mindset, the better.

When the sun is shining and the economy is booming, we tend to get lazy. There’s a buffet of opportunities on the table, and we know we’re never going to get to all of them. On the other hand, in times of tension, we become more efficient. It’s like a call to arms to get ready and organized.

So, lean into that tension and harness it instead of wasting this storm. The tension will allow you to be 10 times better than you were when you came into this situation.

Resist the myth of hard stops and fast starts

There are no such things as hard stops and fast starts for us in this industry. We are in the relationship-building business — it’s impossible to pull everything back in a crisis, and put everything back once the sun is out and the market is better.

You’re nurturing relationships now to build confidence later. You don’t get to make that time up — you will have to triple your prospecting and business building once the market opens back up.

If you don’t have the reserves to nurture some of your key areas that give you predictable and high levels of return in your business, retain what you can with what you have in savings, but make sure you cut everything that’s a cost.

Cost and investments are not the same thing. A cost is something that doesn’t create a return in your business or provide any significant value to you or your clients.

Investments, on the other hand, are strategic. Whether it’s through leads or deals, investments create a return for your business. This could even be something like goodwill by giving back to your community. Have clarity on what you need to do, which is the key to cutting costs and low-return investments.

Kathleen Black is the CEO of Kathleen Black Coaching and Consulting in Oshawa, Ontario, Canada. Connect with her on Instagram at @kathleenblackcoaching or through her website ItTakesa.Team.

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