BusinessLife Case Study: Month 2 of Palm Beach Content Co.
When we last saw Vanessa and Palm Beach Content Company, she had just finished her first month planning and establishing a cohesive brand. She had defined her mission statement, vision, client list, marketing and operation methods, competitive analysis, future goals, and processes for pivoting. She was feeling confident and empowered that her business would take off thanks to this long-term development strategy from her first month.
But then entrepreneur’s self-doubt set in. It happens to all businesses owners at some point or another—because being an entrepreneur is about taking risks. To not have these doubts and worries would be like saying, “Skydiving will give you the thrill of your life. But when you jump, don’t be nervous.”
Overcoming “Static Mode”
Vanessa entered what Peter calls “static mode.” This is when the business, the business owner, and the clients all seem to shut down. This mode oppressed Vanessa’s creativity, her motivation, and her business’ success.
So Vanessa was feeling stuck. She emailed Peter with her doubts regarding getting customers and closing sales. She was thinking of the question posed in the first month: Are you ready to pivot and learn as you develop your strategy? She was wondering if already, in her second month, she needed to pivot to adapt.
Peter responded with the following email:
Question for you to ponder, for 10 minutes –
If you were not struggling with these specific “things,” what would you be doing?
Spend no more and no less than 10 minutes – then GET OUT OF THE HOUSE.
Deliver your existing sales pitch to 5 potential clients.
Have conversations that move 4 people or businesses in your sales funnel from one stage to another.
Then close 3 sales.
Then choose 2 target markets.
THEN decide if a pivot is really what you have chosen to consider.
GET OUT OF THE HOUSE AND TALK TO PEOPLE.
Smile.
This email gave her the initial confidence boost to get back on the horse, but it also handed her actionable tasks to get her business back on track.
The 5-4-3-2-1 Approach
In order to overcome her stagnancy, Peter gave Vanessa five specific actions in his 5-4-3-2-1 approach:
- Pitch 5 potential clients
- Move 4 people in the funnel
- Close 3 sales
- Choose 2 target markets
- Determine 1 pivot (if it’s right)
This approach is a list of five actionable, goal-oriented options. When starting a new business, there are too many things to do to sit static or remain idle.
This 5-4-3-2-1 tactic enabled Vanessa to become active again. It gave her a concrete plan that she could take with her and use today: tasks that she could accomplish right now, assignments that could use her skills towards personal and professional growth.
Ultimately, this approach gives four more opportunities to determine if your business is on the right path. If the 5-4-3-2 steps don’t seem to be pushing your business forward, then and only then is it time to look at pivoting.
Determining The Course
Vanessa had not only felt static, she felt like her entire business model was wrong. Peter’s email didn’t discourage her from considering a new course of action, but it gave her the resources to ensure she was making the right decision.
When you’re stuck, come back to your skills. Bring these talents to your management and your business. What are you good at? What do you enjoy doing?
Where does this overlap with what will push your business forward?
Peter wanted Vanessa to take a practical attitude towards producing results. It wasn’t enough to just wonder if she should pivot. He wanted her to use her skills and talents in a concrete way to determine the future course of her business.
It’s okay to have a temperature check for course correction—to take the time to figure out where your skills and talents are best utilized in the business. It’s like going on a road trip, when you suddenly realize the tank is almost empty. That doesn’t mean you stop your trip or change your destination. It simply means that you need to course correct to fill up on gas, so you are ready to take on the roads ahead.
For Vanessa, filling up her gas tank came when she started to become static. Peter’s guidance turned Vanessa from cautious to confident and from confused to secure.
The Importance of Adaptability
Vanessa is the sole owner and manager of Palm Beach Content Company. So when she felt lost and idle, there was no one to hold her accountable—except Peter. He taught her the importance of definitive and actionable tasks as a method to boosting her confidence and regaining her passion in the early stages of entrepreneurship fear.
This enabled Vanessa to better learn how to adapt her skills and talents to her business. Although she felt stagnant, this moment of perceived failure was actually a point of growth.
Use the word “adaptable” to trigger your own positive changes.
You were stuck, stagnant, confused, lost, fearful—up until now.
It’s your time to be intentional in this moment. Decide whether you will adapt your skills, motivations, and passions in the direction of positive growth.
Are you going to develop your talents towards success?
Month Two Results
Month two is “sales mode.” Not necessarily making sales, but setting up and getting into the mindset to attract clients.
But for Vanessa, her month two in December was a challenging one. Businesses shut down for holidays and vacations, and she sensed the slowness of the season. She felt trapped and unable to get into the necessary “sales mode.”
However, with Peter’s actionable 5-4-3-2-1 program, she was able to get herself out there despite the doubts, fears, and stagnancy. She was able to adapt her skills and appropriately course correct to keep her business moving forward.
By the end of month two, she had added 10 new clients to the pipeline and made her first in-house strategist hire. When the New Year rolled in, she felt more prepared than ever to hit the ground running in the following months.
Vanessa feels fortunate to have Peter by their her side in times of doubt and uncertainty and to give her practical skills tools to build her confidence and her business.