Business Owner, China, Wuhan China discussed on Marketing Above All
Is good and then as you continue to go down the pyramid and I'll go through those different areas. You'll see that. It goes down to the bottom which is psychological but the only way to get up the pyramid is if the items below have been met so at the bottom of the pyramid is what. I would argue the General. I guess characteristics and such of human beings in general. And that's psychological. So that's things like breathing and food water sex sleep. I mean different things like that and then you go up the ladder or up the pyramid and the one right above that is safety. And that's when we're GonNa talk about today and that's safety but more so security security of your body employment in resources your family health business property the one above that is love and belonging and that's friendship family and sexual intimacy. The one above that is a steam so self esteem confidence achievement respect of others and then finally at the top again is self actualization so and what does this have to do with everything going on in your business so plenty? You'll see that I mean when times are good and business is humming and everything seems really really bright. We tend to focus on the top three so the love and belonging esteem and self actualization but when things literally start to go south and life becomes uncertain and the future becomes uncertain. We've very rapidly fall down into those lower two tiers of safety and psychological and I think that we can agree that as of this very second most of us feel like we are in the safety category as we speak and when we fall into those bottom two categories and ends up happening is our decision making becomes flawed. We often start to make hasty and unwise decisions because it's based on fear and it's fear of the unknown and even as we put this brave fronton and say everything's GonNa be fine and everything's GonNa be okay. We're really still not one hundred percent. Certain of that exact statement and ourselves and really for good reason. I mean that the scary news and the scary media. I mean that affect it's already having on our businesses really makes a lot of people wanna just go deep hibernation in a cage and or cage but a cave and sleep until it's over. I mean there are days that I've been waking up thinking that this is all a bad dream but as business owners. We not only have the welfare of us and our families to consider. But you've got your employees near customers and clients to take into account now the declining stock market valuation of retirement accounts that really only adds more fuel to the fire and and really continues to exaggerate and really can aggravate the situation but again you know all that so what I'm looking for you to do is to take some steps back from this abyss and that'll allow you to start to get a better view of what the future might realistically hold. We can't predict the future because this crisis is just so unusual but we can definitely start look at recent history and look at facts not necessarily hype so some of the things that I've learned doing just an insane amount of research so the first cases of this cove in nineteen were reported in Wuhan China during the summer of Twenty nineteen now even with China slow response and things like that the new infections they're claiming have essentially reached zero by the end of March. And there's been other countries that have taken aggressive action. Singapore Hong Kong Taiwan Cetera. I mean they've been able to keep the virus at bay and they've done that even with their close economic times so despite the slow realization by the US government that this is such a really serious threat. I mean they've definitely jumped into gear to really start to slow things down. But when I look at things I tend to look at. What'S THE WORST CASE SCENARIO? And if we use China as an example we're looking at a ninety day span possibly even shorter now. Of course there's going to be long term implications and things like that and those really have yet to be seen and those are obviously dangerous threats and things like that but if I look at that being the proposed and probable time line you can start to take some actions now. If you don't believe this is going to be a short term thing I mean you can go into hibernation mode and literally hunker down but for every threat. There's an opportunity and there's an opportunity for you as business owners to leverage this time to grab the market share from people that are going into hibernation. They're literally going in to hibernation. So if you're really worried about what's happening in how it's affecting your business. I encourage you to start to act. Everyone has to start acting rather than retreating. And there's a really good quote and the quote is everybody has a plan until they get punched in the mouth. It's not about getting knocked down. It's about getting back up and I know because I'm with you working with people just like you. It can be lonely at the top as a business owner like it can be insanely lonely. But what I've realized because what I was doing was looking at the media constantly and I get. I'm not a doctor and I'm not arguing. I'm simply trying to give you some of the facts that if this situation should potentially be around for three more months on the high side effect you but more. So what are the actions that you can start taking? How can you start to Pivot Your Business? And I want you to listen to some of the episodes that I've done over the last two weeks because I'm giving you ideas to pivot how to communicate things to slash plan and all of that good stuff but I thought this episode would be important today to really just talk about this whole maslow's hierarchy of needs but more so to just bring your awareness to it that I'm concerned that a lot of you are making really really rash decisions and I almost made a couple of those myself but when you start to see the situation as it is start to find the opportunities it refrains your brain to start to act strategically an act to preserve your legacies and keep your family there and keep your business intact and your team members. Hope you've enjoyed today's episode of knows a little bit off typical marketing topic but maslow's hierarchy of needs. Shirley is a marketing topic. Get out there. Take some action to day. I'll see you back here tomorrow. Michael Asner signing off. Good morning good afternoon and good night. Thank you for listening to this episode of marketing. Above all get out there make a change and take some action and hey don't forget to leave a five star review until all your friends. This is the greatest marketing podcast ever ever ever. We look forward to seeing you here tomorrow..