Just for fun, or perhaps to torture myself with the freedom of our past, I decided to listen to my old podcast episode from the first week of January 2020. In retrospect, it felt like the age of innocence, before all Hell broke loose. I remember the excitement of a new decade, and how cool it felt to write the year 2020, as though anything could happen. Some of you may remember the topic, it was “Calling BS On New Year’s Resolutions”. My idea at the time was that since most of us tend to break our resolutions, we’d be far better served by forming habits that would sustain us. I shared the 21 habits of successful entrepreneurs, which included things like prioritizing their time, focusing on what they can control, and not sweating the small stuff.
So not that I’m a big fan of making resolutions, but in light of how our world has changed, here are 5 new habits you can adopt to help your business this year, with input from Forbes.
- The most important habit that we all learned last year is that of flexibility. Many businesses who stuck to their outdated models are no longer with us today. The businesses who thrived were quick to make a pivot to a technology-centric, online-centric model that will serve them well in the years to come. One of my favorite companies, Whole Foods, converted some of their LA stores to dark fulfillment centers that are now closed to customers in order to quickly fulfill online orders close to delivery points. Restaurants like Panera began adding groceries to their menu items, which makes sense when you consider their access to fresh produce and meat. You may have also noticed more of your favorite restaurants happy to add alcohol to your order, which is a convenient bonus. Papa Johns offers Facebook Instant Ordering, Walgreens has partnered with Postmates to deliver your personal care items, and even our favorite real estate attorney offers drive through closings.
- The second habit is to develop a sense of community. Living in an urban center, and leading a business with a mission of supporting small businesses, I’m frustrated and sad when I drive around town and see more and more of the places I enjoyed closing down. I must admit that during the first few months of lockdown my family bubble was so tight that I purchased only food ingredients that I could clean and cook myself. As you might expect that got pretty old and now I really enjoy ordering online from some of my favorite restaurants and I try to tip well to help support them since I know their business has been impacted. When my team switched our holiday party to Zoom, I sent food gifts from local businesses. By now, whatever financial help the PPP loans these small businesses received is long gone so the more we can do to make a conscious effort to support our local community, the better our chance of actually having one when this is all over.
- The third habit is one of taking matters into your own hands to make things happen. This means making yourself aware of all of the financing opportunities available to your business, especially through community banks, the SBA, and other community and non-profit organizations who have rallied to help small businesses through these tough times. Keep in mind that some have a lengthy approval process, and may require you to present a business plan, so don’t wait until you actually need the money to apply. There is no better safety net for your business right now than a line of credit, or even a funded loan you keep in a savings account so you’ll have money for a rainy day. The pandemic curve is still high and we don’t yet know the programs the new government will put into place, so act like a good girl or boy scout and be prepared!
- The fourth habit is to find a way to manage your stress, especially if you run a business and are responsible for the financial well being not only of your family but of your employees. As entrepreneurs, we are under tremendous pressure to keep our businesses going. Couple this with social distancing, which has made us feel more isolated, and our tendency to work around the clock because our computers are sitting right there calling us, and we have a recipe for burnout. You can’t be a good leader unless you take care of yourself, so find an outlet, and make it a physical one. Block out exercise time on your calendar, even if it is to go for a walk. Watch a movie with your family and turn off your phone. Play a board game with your kids. With pre-teens and teens especially, your moments to connect tend to be driven by their readiness, so the next time they want to talk, put down your computer and commit to getting your work stuff done later. Today’s reality is that we did not become the superhuman efficiency machines we all imagined we’d become when quarantine began. Most of us have become inefficient, multi-tasking workaholics. But start small and block out 30 mins per day to do something that involves speaking to a human other than through Zoom, or enjoying some physical exercise. And if that feels good, then work your way up to an hour. Baby steps.
- And since I’m a marketer at heart, you know my fifth habit is bound to be about getting more personal and creative with your marketing. I could go on forever on this topic but in a nutshell, consider that humans have an inherent need to form social relationships. There was an interesting paper published in the Journal of Psychiatry and Neuroscience that connected brain chemicals with human behavior. In layman’s terms, when we connect with others, our brain releases serotonin, the feelgood chemical that makes us more collaborative. When we feel attachment, we release oxytocin, which causes us to feel a surge of positive emotions. We humans are so driven to create these connections that the pandemic hasn’t reduced our connections, it has simply moved them online. Business owners who had not felt comfortable with social media are now streaming live, shooting DIY videos, hosting webinars and launching podcasts. Retailers have embraced shoppable posts, working with micro influencers and using content provided by their customers. More than ever, taking the time to engage with others on social media is a key requirement for growing your audience. Regular posting is a good start but it’s no longer near enough. Many businesses are redirecting their marketing spend from attending physical events, trade shows and printed materials toward digital.
When it comes to New Year’s Resolutions, yes I still think they’re BS. There really isn’t much point in making a grandiose statement about a change you’re unlikely to keep. But a habit, on the other hand, is forever.
Let me leave you with a quote from one of my favorite authors and master marketer Seth Godin. “Wouldn’t it be great to be gifted? In fact… it turns out that choices lead to habits. Habits become talents. Talents are labeled gifts. You’re not born this way, you get this way.”
In some weird, twisted way, 2020 has been a gift. It taught us not to take anything for granted, from a wildly successful business to life itself. It reminded us of the importance of family and of human connections in general, because it was no longer easy to connect. And it reinforced that you can’t keep a good entrepreneur down. We’re like that old game of “Whack-a-Mole”. If you beat us down we’ll just pivot and pop up again somewhere else.
So here’s to a 2021 that builds on the dramatic lessons of 2020 to build sustainable habits of flexibility, community, self-empowerment, calm and digital connectivity.