How to ensure your business survives the pandemic

A business that has closed permanently displays a sign near the entrance, Tuesday, Jan. 12, 2021, in Orlando, Fla. | John Raoux, Associated Press

Whether you’re launching a business or trying to save the business you already have, here are five tips to achieve growth in uncertainty.

Almost a year into the pandemic, businesses are growing weary. In an age of economic uncertainty, many businesses both large and small are wondering how to both adapt and survive. In fact, Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent. Weekly jobless claims are still four times higher than they were pre-pandemic and the unemployment rate still hovers around 6.7%.

When life gets hard, it’s common to just want to give up. The past year, many feel like their life hasn’t gone according to plan. No one said the road to growth was easy — but they didn’t specify just how many and how significant the obstacles would be. And that can make you want to shout, “I give up!”

The truth is, most of our brains are wired to want to give up easily when we’re feeling stuck. This phenomenon is called the “Pleasure Principle” or instant gratification. We want to experience the rewards of our hard work immediately, and if we don’t succeed right away, we might get anxious or want to give up altogether.

As an inventor, Thomas Edison made 1,000 unsuccessful attempts at inventing the light bulb. Could you imagine how gloomy the world would be if he’d quit?

Despite this being a time of uncertainty, more than 3.2 million aspiring business owners started a business in 2020 — 500,000 more than 2019. If we focus on that number instead of the unemployment numbers or the economic debt, we see that no matter what, there are people out there who are resilient and finding a path to success.

Take it from me. I was once told I wouldn’t amount to anything. I struggled with dyslexia growing up and barely graduated high school. No one would have ever expected me to become a successful investor, worldwide speaker, and New York Times bestselling author. It took innovative thinking, a positive mindset, and motivation to overcome my challenges.

When faced with uncertainty and obstacles, I had to let go of the things outside of my control, like other people’s opinions and actions. And the same applies to those of you struggling right now. Focus on bettering your outlook, like working on feeling more confident in your skills or improving your customer relationships. There is more to life than what is happening right now.

Whether you’re launching a business or trying to save the business you already have, how can you ensure your business will survive global uncertainty and crisis? Here are five tips that I recommend to help your business survive.

1. Instead of thinking about “how” to do something, find out “who” has done it before successfully and learn from them. Finding a mentor can skyrocket your success like nothing else. Not only are you learning the tools and techniques of your trade, but you’re surrounding yourself with successful, talented people who will inspire you to reach for greater things.
2. Make decisions based on today, not tomorrow. When everything on your plate seems daunting and you just want to give up, remember that you don’t need to tackle everything at once. Take things one day at a time. In the morning, tell yourself, “Just for today, I will _____.” Fill in the blank with one thing you want to accomplish, even if it’s just for the day.
3. Successful people understand that their time is limited. They have a certain number of “yes” responses that they can give. Learn when to say no to opportunities that you really don’t have time for and won’t move the needle in the direction you’re going. Don’t overstretch yourself to the point where you won’t be able to show up in peak state for every “yes.”
4. Practice solution-focused thinking. I think sometimes humans are preprogrammed to think a certain way when something doesn’t go as planned. But instead, you need to figure out what we can learn. And don’t wait. Tackle hard situations in life now. When you learn a new solution to your problem, implement it immediately. Don’t wait. And when you act, act in big, bold strokes.
5. Use your passion to power persuasion. Your business’s purpose doesn’t have to change the world, but it has to motivate you. Ask yourself who you want to help most. Is there one person or a group of people whose fate you care about as much or more than your own? If so, consider how you can help them. Your sense of purpose may lie in helping that community. When you’re passionate about what you’re selling and you know it can make an impact on your customer’s life, then it rings true in your sales.

Dean Graziosi is a world-renowned entrepreneur, success coach, New York Times bestselling author, and investor.

from Deseret News https://ift.tt/3vH6pEa