A Message To Business Teachers and Students

This presentation started off as a conversation with the Stratlab team. Trying not to focus so much on the negatives all around us but trying to determine the positive externalities that resulted from the Covid-19 Pandemic.

A good lesson anytime something horrible happens, find the positive. There are a lot of positives that have been realized since that fateful day in March.

1. Efficiency of business (Business is easier now)

No ones tire kicking anymore. I talked to several retailers and the one big change they saw was that no one is “shopping” when they come to your store or emailing you. They are ready to buy.

We went bike shopping the other day and simply bought after test driving two bikes. Before the pandemic I NEVER would have bought something like that. But the hassle of waiting in line, sanitizing your family after you go shopping, it’s not worth it. And yes we went to Dutch, where else would you buy a bike from?

Making it easy to buy from you, fulfilling orders in a timely manner, and helping customers solve problems. These are things you will be getting very good at (and what Dutch Cycle is very good at).

The book Friction talks a lot about this. How the future will belong to those companies who makes it easiest to buy.

2. Expectations are lower

This might seem counterintuitive but expectations of what you do are not high during an emergency. Small gestures mean a lot. If someone gets upset with you or your business, onlookers will blame emotions or some other factor. I’ve seen it happen more times than I can count. People get upset with said company, others come in to defend said company referencing that they’re simply just trying to get by too.

People have much more respect for small businesses and business owners. Maybe it’s the fact that everyone is going through a tough time or maybe we project the empathy we want from others. Either way I could get used to this.

3. Reputation matters more

You can’t sell face to face, you can’t sell at a trade show, you can’t sell at an event. The only way you can sell is by using your reputation. You can try to “sell” in the traditional sense but it’s going to be an uphill battle.

Here we talked about PolicyMe, the Toronto based life insurance company that operates completely online. They rely on customer reviews A LOT. Everyone needs to be worried about customer reviews not just life insurance companies and roofing companies! (also talked about Optimum Roofing and their love for customer reviews.

When someone Google’s you, what they find is a part of your reputation. If people can’t find you when they search you well your reputation doesn’t matter much.

If people ask friends about your company then yup your reputation matters. In almost every industry reputation matters eventually.

4. Your online strategy matters more

People aren’t window shopping, they’re shopping your online store. I don’t know about you but in the last two months I’ve shopped more online than ever before. And not because I want to. I love talking to people before I buy but you simply can’t now. Your online presence in your new showroom.

We talked about Sunspace Sunrooms in Regina, the Facebook strategy of boost the $@#& out of your best posts.

5. Everyone is reinventing how they communicate

What will you become an expert at?

Ugh even we are and it SUCKS! Well, it’s getting better but I’m not comfortable with it! Change is never easy but it is necessary.

One thing that needs to change is the crazy, work yourself to death culture. I like what Slack has in their head office in big bold letters for everyone to see. “Work hard and go home.” Meaning, do amazing work but don’t forget work is only one part of a well rounded life.