Business Analysis and How to Move Forward in a Time of Crisis | Episode 46

Business Analysis and How to Move Forward in a Time of Crisis

Even during a time of crisis, it is 1000% possible to grow your business and even attract new clients…but in order to do so, performing a thorough business analysis is key!

That’s why this week on the #PrettyAwkward Entrepreneur Podcast, I’m sharing some important questions that all business owners (or future business owners) need to ask themselves in order to excel. So many of my client’s businesses are BOOMING right now and by implementing some of the tips and business analysis strategies shared in this episode, I know you can find the same success.

But before we dive on in, let me introduce myself. My name is Megan Yelaney, and I have built two six-figure businesses and one multi-six-figure business by fully embracing my authentic self and not trying to hide the quirks that make me, ME.

So if you’re a female entrepreneur looking to learn, grow your business strategies and mindset, and scale your biz to multiple six figures while having fun doing it…you’re in the right place, girl! Because I made this podcast exactly for YOU!

And today, we’re talking ALL about the tools, strategies and tips you need to conduct an effective business analysis and move forward in a time of crisis.

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Business Analysis and Moving Forward In a Time of Crisis: You are NOT your business.

So first of all, here’s one big truth I’ve had to embrace over the years: it’s so important to be separate your personal life from your business. Because otherwise, when shit hits the fan in your personal life, it’s hard to show up for your business.

And I know separating the personal and the business side of life be really hard when your personal brand is your business. Most of you reading this, your face, your person, you are your business, right? We are our business. I am the face of my business. So it might seem that if life is happening, my business is going to crumble. But that’s not how it has to be. Because if you can have some systems and separation in place, then life can be happening and your business can still stay afloat and vice versa.

And in this episode, I really want to dissect how some of my clients aren’t letting the craziness happening in the rest of the world or their personal life negatively impact their business. In fact, I’m going to talk about why they’re thriving during this time and why their businesses are actually increasing!

The #Prettyawkward Entrepreneur Podcast

This podcast was created with YOU in mind.  The female entrepreneur looking to learn, and grow your business strategies and mindset, to get your business off the ground and scale to multiple six figures and have fun doing it.  To inspire and empower you to take the required action you’ve been putting off to create products and make sales.

Each week we will be covering topics that will help you start, grow and scale your business.  Some topics that you can expect to be covered include:

• The top mistakes online entrepreneurs make when signing clients
• Strategies to grow your instagram engagement and connect
• How to break through mindset blocks that are keeping you stuck in your business

I can’t wait to hear about what you learn, what makes you laugh, and what tips allow you to grow your business and brand as your authentic self.

Stay #prettyawkward

Business Analysis and Moving Forward In a Time of Crisis: Questions to ask if you’re already running a business.

So I’m going to speak to all my business-owning babes first! And I want you guys to REALLY take some time and answer these questions:

• So should you be pivoting? AKA, should you be switching industries right now?
• Should you be offering lower ticket items? Should you be looking at your product suite and getting rid of the higher ticket items and introducing lower ticket items?
• Should you be cutting your prices? Should you be offering extended payment plans?
• Should you adjust nothing? Is it time to put out that low-priced offer you’ve always wanted to?
• Do you have recurring revenue coming in? If not, are you confident to launch your offer right now? (And if not…why?)
• Are you actually talking about your offers regularly? (And I mean, constantly, without feeling guilty about selling! If not…more on that below).

And one thing I’m going to say is that I’ve had a client say “yes” to every single question here (except one – keep reading to find out which!). I’ve had two clients in the past month completely switch industries and because they’ve been wanting to do that and had the street cred and everything to back it up, that change was the right choice for them.

As for prices, a lot of my clients are offering payment plans right now – and I am too. And I think extended payment plans are great – especially for right now – but I am not a fan of cutting prices unless you are brand new. I personally always charge a little bit lower when I’m first starting to try something out and I encourage you to do the same. Other than that, none of my clients, including myself, have cut her prices.

I have clients who are selling high-ticket masterminds right now and didn’t adjust anything, and people are joining it left and right. But I also have clients who’ve created a low-priced offer that they’ve been wanting to do for years because they’re super passionate about serving that more beginner person who can’t invest in their higher-ticket coaching.

Business Analysis and Moving Forward In a Time of Crisis: The Mindset Needed Right Now

One really important note about low-priced offers: if you are putting out a low-priced offer because you’ve wanted to do it forever and you see this is the time, great. If you’re doing it just because you’re scared and you think that’s the only way you’re gonna make money…people will feel that desperation. They’ll feel that scarcity mentality and it won’t sell.

And if you find yourself worrying it’s insensitive to sell right now, try this perspective switch: what if you thought, “It’s insensitive to leave my ideal client hanging when they need my help and my services more than ever”? That change alone can make the difference in you showing up fully for your audience right now.

And you can apply the same perspective switch to slashing prices. You can think, “People can only afford my services if I massively discount them.” Or, you can believe that if someone doesn’t invest what the value of the program is, they won’t go through with it and get their transformation. So you’re actually doing a disservice if you undercharge – which is why offering extended payment plans instead is a much better idea if you’re worried about people affording your services.

Business Analysis and Moving Forward In a Time of Crisis: Whatever you want to manifest in your business, if it’s backed by inspiration and service, it will happen.

So like I mentioned before, it’s not bad to offer low-ticket items right now…as long as you’re offering them from a place of excitement and confidence that it will actually help your audience. And I honestly believe that when the desire you’re manifesting is aligned with service and inspiration, it is invincible.

So how do you know if your desires are backed by service and inspiration? One simple way to clear up the energy behind your desire is to ask yourself, “Does this desire make me feel inspired and serve others?” Take a moment and write in your journal about how your desire lights you up. Then take it even further and write about how your inspiration and positive energy serve others. Try writing for at least five minutes in your journal and then read over what you wrote. Let yourself feel that joy, inspiration and great contribution you wrote about, and give yourself permission to celebrate your desires!

Check out the good stuff!

 

Launch Like a lady boss

Three Rock- Solid, Step – By- Step Plans for Confidently Launching Your Programs And Cashing In Big Time

Client Attraction University

Your 12-Week Fast Track For Getting More Clients
Who Love Ya, Pay Ya, And Keep Coming Back For More
(Um, FINALLY!)

#PrettyAwkward Business Posse

Connect, grow, and scale your business to 6-Figures. Awkwardly.

Business Analysis and Moving Forward In a Time of Crisis: Questions for my business newbies.

Business newbies (or anybody with some uncertainty about their biz vision), this part of the podcast is for you! And here’s something everyone wants to know: the secret sauce to starting your online biz. And it’s not having an insanely big following or all the comments on your social media posts. It’s getting clear on who your ideal client is!

So I want you to think about what specific person you actually want to reach, and answer these questions:

• Who do you want to help the most?
  • And be specific! Consider related questions like: What qualities or characteristics do you appreciate most about your ideal client? What goals are they worked toward? What are they not willing to let go of in order to achieve those goals? What is their life like before they work with you – what obstacles are they facing internally or externally?
• What do you help them achieve, beyond just any external goals? What will your clients be able to do after working with you that they can’t now?
• What sort of transformation are they going to have when working with you?

Then, take a step back and create all your social media content around that specific topic to create awareness of the problem that your specific audience might not even realize they have. And you’ll also want to consider what core message about your business you want to convey through your social media posts.

Next, I want you to think about your passion and skills. What makes you excited to get out of bed each morning, and what experience and skills do you have? What have you gone through that your ideal client is probably going through right now that you could help with?

And then use ALL that information to really dive deeper when thinking about why YOU are the best person to help your ideal client overcome whatever obstacles are in their way. Because once you are really clear about how you can help a certain person and what you can help them with, that’s when people are going to start coming to you (even if they don’t fit all the “ideal client” attributes you’re targeting!).

Business Analysis and Moving Forward In a Time of Crisis: Final Tips

I know that all the tips and strategies in this episode will help business newbies and veterans alike make progress and even bring in new clients during the present pandemic. But one note I want to leave you with is that even after this pandemic is over, some kind of crisis or challenge is going to happen in your life (though hopefully none will be as big as this one!). So I really encourage you to use this time and the business analysis strategies I share in this episode to ensure your business can thrive in any situation, just like many of my clients’ businesses are right now!

And as always, stay safe, stay healthy and stay #PrettyAwkward!

THANK YOU SO MUCH FOR LISTENING!

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