I've been thinking a lot about what's happening with Coronavirus (COVID-19) at the moment in our communities, but also more specifically with our businesses.
I'm thinking about how it affects my business, Training Tilt. You might have gotten the email that I sent out about some tips to communicate with your athletes around that, but a lot has changed since then.
I've been thinking a lot about how I can help my coaches, my clients.
But before I can do that, I'm just taking a few notes about what I can do in my own business to protect myself and to make sure we get through it okay and then come out the end in a better situation than now.
The important thing to remember, I think, is that not everyone is sure what to do at the moment.
I'm thinking what are some things that you know you should do in your business that you don't really need to think if this a good move or or not. Anything you should do to improve your business regardless of or even in spite of the current global pandemic.
You can watch my video or read the text version below.
The Current State of Business
I have this feeling of maybe inertia -- is that the right word? -- where I I'm not quite ready to keep moving.
I think if you look around, you see that most people are just waiting to see what happens.
But I think there's plenty of positive things that you can do in your business in the meantime.
What is the Best Version of Your Business?
So the concept I'm thinking about is what is "the best version of my business?"
There's going to be lots of businesses in various states at the moment. Some of them are not going to make it through this process and will fold. Others will make it but might struggle, you know, and then some might even thrive.
I'm thinking about what's the best version of my business.
That's not the same as what's the biggest version of my business.
If you look at the businesses that are already starting to fail, they are some of the biggest ones -- you'd think that they would have cash reserves for something like this. But they are so reliant on the revenue to pay their employees and all expenses. It's some of the biggest businesses that will fold first.
So for me, it's "what's the best version of my business?" Not the biggest, not the most cost-effective, not the cheapest. What's "the best"? The best will mean different things to different people.
I'm not having a whole lot of new coaches signing up at the moment so as much as I've got to support with my existing coaches, I don't have that same burden of helping all my new coaches come on board because I think they're in the same boat. If your a new coach or you're a coach using an alternative system, you're not really making those sorts of decisions at the moment. So I've got some downtime.
So I'm just thinking what am I going to do with any spare time I have to create the best version of my business.
Make a list to create an action plan
So, what I'm going to do is I'm going to take some actions and not just wait to see what happens.
- I'm going to list all of the things that I'm not happy within my business. So that doesn't mean they're specifically related to what's happening at the moment, but all of the things that I've got in the back of my mind that I know that I'm not happy about in my business.
- Then I'm going to prioritize those based on what will have the most impact on becoming the best version my business can be.
- Then I'm going to list some attributes about my business that are positive in terms of Coronavirus. So things like - we're fully remote, the software allows people to coach people online and doesn't require any in-person coaching. So I'm going to write down all of those positive things about my business that are beneficial in these times. If I can improve those or add on those then I will.
- Then I'm going to write down a list of my biggest assets in my business and how can I protect them during these times? For me, my biggest asset is all of the coaches that are using Training Tilt.
So by the way, I think you should do all of this as well. This is the point of the video that this is not just for my business and it's different to running an endurance or triathlon coaching business I think these will also be important for you to do to protect yourself and your own assets.
Since I know that my coaches are my biggest asset I know I need to protect that asset.
So I'm going to give you as much help as I can during this period.
Every day for the next 30 days, I'll be giving you a tip by video or blog to help you protect, grow or improve your business so you can get closer to being the best version of your business as possible.
So look out for those tips coming over the next 30 days and then we'll see how things play out. Things are changing pretty quickly at the moment. So who knows what will happen.
I'll be keeping you up to date via our social channels and also our email list. You can get on the email list here.
Please reach out using the chat if you need any help creating the best version of your business.
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