Would you like to have a professional real-time assessment of your business? Many of us are stuck at home at the moment, entrepreneurs and small business owners included. But isn't this the perfect opportunity for some self-care? We've created a 5-day business development exercise especially for you, so you can use this forced stop to give some love to yourself as an entrepreneur and to your business.

By the end of the exercise you’ll get:

1. A complete status of your product (or service).

2. A personal overview of your team.

3. Market insights.

4. Introduction to the most updated, balanced, holistic and simple tool for startups assessment and business development.

Whereas now isn’t the best time for marketing campaigns (your customers aren’t very attentive right now) nor for long-term strategic plans (are you sensing the market’s uncertainty too?) - It is a perfect time for some ‘internal’ work, with the purpose of self-diagnosing your business, strengthening its core and fine-tuning your message.

In our experience, the best business development (and marketing) plans are those which are based on a proper business diagnosis, and when we invest time in looking at our business as a whole, further development plans almost create themselves. That means that if you put some effort now, it will pay off tomorrow, once it’s all over and things are back on track. The #stayhome exercise will guide you through the important steps of a professional business diagnosis process and will help you with that.  

We developed the 3P Model in 2014 as a tool to analyse startups and other small-to-medium 21st-century businesses. It has already been implemented in many startups and entrepreneurial education programmes across Europe and is proving itself as an easy-to-use yet highly efficient framework for startups, investors and educators. The DIY #stayhome business development exercise is our giveaway to our community and it’s free.

Interested?

Get your access here:

by Keren Beit Cohen

4 min read

We’re currently living in challenging COVID-19 times. People, companies, governments and international institutions are still figuring out how to cope, and in the meantime, like many others, we entrepreneurs are caught unprepared.

‘Regular’ uncertainty has changed. Although as entrepreneurs, we’re built to handle some ambiguity in our professional lives, these times are bringing real turbulence. Many of us are experiencing a sharp decrease in workflow as well as health-related concerns for ourselves and vulnerable loved ones. Societal worries, too, such as how everything will look once this is all over, are an integral part of our conversations and thoughts.

The good news, bizarrely, is that there is nothing much that we can do about it.

Except for staying at home as much as possible, cooperating with the general instructions and hoping for the best, we’ve done everything we need to do. After having spent some time organising our household, perhaps supervising some kids’ activities, buying food (and toilet paper?) supplies, it’s time to go back to work - only this time in a different mode.

Here’s what I do right now:

1. I try to keep things in proportion. If you’re reading this right now, you’re probably healthy - not a guaranteed thing in general, and especially not now. Also, we have to remind ourselves that this is a temporary situation which will eventually end, if only for the reason that nothing in life is permanent. We can trust humankind (and history) that it will all be back to normal pretty soon, even if that will be a new kind of normal.

2. I try to figure out in which ways this situation is here to help my business (and me). It’s very likely that you have a list of things you were planning on doing for your business for a long time now, but never really had the time for. You might find out that now is the right time. Any business development task which has an ‘internal’ nature, such as doing some research work in order to know more about what’s going on out there in your market, or strengthening your business identity and message, might turn out to be the best thing to do right now and an effort which will definitely pay off in the nearest future. I would recommend putting aside any direct marketing efforts at the moment; your clients are not very attentive right now and your market as whole is not quite being itself either. Long term strategic plans are, for obvious reasons, not the best thing to deal with now too.

   At 3P Model we are now sharing a DIY business development exercise specifically for the purpose of strengthening the core of your business, and it’s free. Check out our #stay_home exercise here.

3. I sharpen up my business identity. A strong business identity is crucial for success and growth. Unfortunately, it’s also something which many business owners neglect. Ask yourself a few questions and write down your answers:

   • What service or product am I offering?

   • Why me, or what qualities do I have as a professional which make me the right person to do this?      

   • What is it about my product which makes it worthy?

   • Do I have a message for my clients with regard to what’s going on now in the world?

   Begin with focusing on yourself, from the inside out. Only then continue with other questions which are related to your clients, your market and the larger business environment in order to create your complete business ID.

4. I work on my website. Your website is an elaboration of your business card and is a must-have in today’s market. Once you’ve gone through sharpening up your business identity on paper, you will find creating an online presence an easier task to accomplish, at least content-wise. If you don’t have a website, start working on it now, and yes, consider creating it yourself. The biggest advantage of going for the DIY option is the added value it brings you in sculpting your business identity and in adding another layer of precision in defining who you are and what you do. The clearer your message will be, the faster it will reach your potential clients.

   Several platforms are doing a great job in helping people out with building their own websites. From my own experience I can recommend Squarespace, and I hear that Wix are great too. A simple one-pager to begin with will do; later on you could always hire a professional to improve your website or add some more advanced features. Don’t forget to reach out to friends who can help you out with the mission: now is a good time for some mutual support (see no.5 below).

5. I consider exchanging small-scale services with other professionals in my network. Many people are reacting to the current crisis by feeling a need to act in solidarity and support each other. Despite the fact that some of us feel it’s not the right time to hire paid professional services, it doesn’t mean we can’t share our experience and knowledge in other ways. Your English teacher friend could help you with some copy editing for your website and you in exchange could offer her some private yoga lessons (if that’s what you do, of course). If you’re a marketing expert you could advise someone on how to improve their business and in return get some home-styling ideas. Many people find this time a good one for sharing, exchanging and helping each other out.

   So these are my ideas as a stay-home entrepreneur about what to do for my business right now. If you have more ideas, please share it with us; there will be more posts coming with more stay-home ideas. In the meantime I hope you all stay healthy and safe and make the best out of this situation.

   Good luck!

Keren Beit Cohen is the founder of the 3P Model (2014), Founder CEO of Free Founders (2020) and a business-and-personal development consultant for entrepreneurs.