April 1, 2020

Adapt, Adopt or Pivot in the Corona Virus Economy

With major restrictions placed on business by the COVID-19 outbreak, we go long (46 mins) and very deep into what small businesses need to do RIGHT NOW to survive.
COVID-19 Support For Business
COVID-19 Support For Business
Adapt, Adopt or Pivot in the Corona Virus Economy
/

Show Notes

COVID-19 Support For Business
COVID-19 Support For Business
Adapt, Adopt or Pivot in the Corona Virus Economy
/

With major restrictions placed on business by the COVID-19 outbreak, we go long (46 mins) and very deep into what small businesses need to do RIGHT NOW to survive. #Adapt #Adopt or #Pivot. This episode includes a massive amount of actionable content for businesses in all stages or Coronavirus reaction. Here’s the outline.

Big Ideas:

  • Adapt & Adopt Before Pivot
  • During, After and the future of business
  • Minor To Major, Big To Small
  • Creating Ethical Opportunity From Struggle

Hit the Hardest: Concert Artist and Production / Trade Shows and Industry Events / Events Planning – wedding, fundraisers, professional orgs. / Non-Profit / Hospitality (bars, clubs) / Sports / Movie Theaters / Gyms / Arts and Entertainment

Those Already Adapting: Restaurants & Retail – Online, Delivery / Education – Online Classes, Distance learning / Medical – Drive-Up triage, adapting devices, etc. (long, long list)

B2B Model Adapting: Work From Home and Remote – Video Conferencing / Digital, Online, Mobile tools / Manufacturing retooling to fill needs (examples) DD Audio, Auto Makers making ventilators (Ford, GM, Musk, Dyson, MIT), Rouge Fitness, Apparel Manufacturers

Hard Hit: Support Industry such as Sales / Marketing / PR / Accounting / Legal / Insurance / Continuing Education Programs / Employee Training and Development

The T is SWOT is Threat. This is what you (should have) planned for.

Business Model: Adapt / Adopt / Pivot (but can you go back?) Public Goodwill for only so long / Meet them more than half way / Have 2-way conversation, learn from this experience / Don’t go “back to normal” as soon as possible

The Whole Market Has To Change, So Do You! What You Need: Speed / Attention / Speed / Not once, but over and over / Did we mention Speed?

Do NOT do this ALONE. Let your third-party experts (like us) help you make hard decisions to plan for an immediate response and then manage into the future. This isn’t just an economic decision, it’s personal for most business owners and entrepreneurs.

Be Smart / Be Strategic / Be Flexible / Be Fast and Decisive / Brand over SALES (if you can)

If your business is secure or barely affected, do your part while focusing on: GOING LONG (Attitude and Planning) / BRAND BUILDING / PUBLIC RELATIONS / CORPORATE CULTURE Note: ALL CAPS for a reason, it’s that important.

You are NOT taking advantage (being unethical) by doing business/sales if you are providing value with intent. Let your ethics guide the process. Protect your family, your employees, your vendors, your subcontractors, your community and your country. Fight like hell! Good luck!

On every #NeoMarketing podcast, we discuss best practices, latest trends and modern techniques for professional business communications including advertising, marketing, digital channels, social media, public relations and alternative options. Listen, Watch, Subscribe or Stream: http://bit.ly/NeoMarketingSubscribe

Women of Integrity In Business

Women of Integrity In Business

On episode 129, we're discussing the measurable value of ethical business practices and the potentially catastrophic effects of ethical failings along with the reasons we are sponsors of the Better Business Bureau Serving Central Oklahoma award for Woman Of Integrity 2021.

Listen →
The Role Of Business In Society

The Role Of Business In Society

"The Professor" Pritch Pritchard, APR & Fellow PRSA challenges co-host and Golding Group CEO Kyle Golding to a philosophical debate on the Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits. Friedman is known as one of the most influential economists of the 20th century. The Friedman doctrine has been very influential in the corporate world but has also attracted criticism. We go deep and wide in the back-and-forth discussion.

Listen →
#NeoMarketing Podcast Series

#NeoMarketing Podcast Series

On the #NeoMarketing podcast, The Golding Group partners Kyle Golding and Pritch Pritchard, APR discuss best practices, latest trends and modern techniques for professional business communications including advertising, marketing, digital channels, social media, public relations and alternative options. Educational, informative and (hopefully) entertaining.

Listen →