How to Business Plan in a Crisis: Millionaire Mindset in Times of Crisis

Okay. So I wanted to make this video because there's a lot of business owners on our list and a lot of people who are in our community, in our tribe. And I think it's really important that I share with you kind of the thought process of how we dealt with this situation internally. Also, like how the different steps came about so very transparently. I've never led a team through a Crisis before. In 2000 I was actually just getting out of college, which shares my age, and I was just getting out of college. I was actually working for a real estate company at the time. So I've never dealt with a crisis before. I've never dealt with any sort of leadership through a situation like this. So I was probably very similar to the majority of the population where we were just kind of like waiting and seeing what happens, right? Like, is this going to blow over or not? Luckily, I was in San Diego at the time with my dad. We were actually planning on celebrating Michelle's birthday and what ended up happening was we had to cancel the party, but we ended up going down anyways because there was no like shelter in place. There was no stay at home warnings. It was just people felt uncomfortable. So they ended up canceling the party anyways. Long story short, we had a meeting, Harvin, myself and Michelle and Jen, and my dad basically walked me through what they did in the business in 2008 when he was operating Peak Potentials. And two things really came from that. One was making sure that we were playing defense. So making sure that we looking through our financials, making sure that we were, you know, staying lean and not taking on too many extra expenses. And also if there was something that we weren't using at all, we were, you know, looking to decrease it. There was three things that I have learned is you either eliminate it, you decrease it, or you keep it. Right. So that was what I was starting to go through all of our different financials and that was how we were playing defense. Also, can there be other people on the team that can do different things to help out more? So like, how do we get more support from the team in the different situations so we don't have to higher out even more during the situation? Only during this situation. Right. So defense. Also the planning aspect of like how do we plan for the good situation, the medium situation or the bad situation? Okay, so that was the defense. Then he said, but we don't want to only play defense, we want to play offense. We want to make sure that we get in front of this and that's where this concept of the millionaire mindset in times of crisis came is like the idea of offense, of like, how do we get in front of this and how do we serve our community the best of our ability by giving them things that are in our wheelhouse because we know that the information that we have can really serve people at this time. And offense meaning, like, how do we keep pushing our stuff out there and giving, giving, giving and then hopefully get some revenue coming in as well so that we're not dead in the water if things go haywire. Right. We're one of those people that people want to associate with versus don't want to at all. So that defense offense was huge. I'm also in a couple high end masterminds and groups where there's other very successful people as well. And those groups were going crazy. Like they were like talking about pivoting and changing their offers and being more relevant and, and relevancy and just stopping everything that you're doing and just focusing mainly on making sure that you're serving where people are at right now and not thinking of, let's just put this behind us and not say anything at all, right? So when I saw the two different aspects of successful people, which is where I really get to absorb and learn from people who are in the position that I want to be in, I started to assess the situation very differently. Like, this seems very serious. This seems something that I need to take very seriously because when it comes down to it, I want to be a business that's thriving throughout this, not really struggling, right? So we started to take it very seriously. So there was a couple things that we did. The first was we made a plan. I talked about this on the earlier video. I. We made a plan of the different scenarios and understood exactly financially where we were on cash flow, on projections, on making sure the different scenarios and had different triggers on revenue, expenses and profit that we would make different decisions based off that. So that was the first thing. The second thing was I held a hands on meeting, meaning that I brought the whole team together and I talked about the situation at hand and talked about what we're going to do. I gave them the process of the retention, the revenue and the restructure of looking at the three big headers. And this is how we're going to approach each of them and the importance of each of them. And I walked them through the strategy, overall concept and strategy that we were going to move forward with this. And I made sure that I reframed the Crisis as a place for us to step into the light and really the light in a dark situation. And really like this is our time, our calling for our company to step up in a bigger way, which meant that we were going to need to call on our team in a bigger way to help serve our community more, which is what we've been doing. The team behind me has, well, not specifically behind me, but they have been putting in extra hours, extra time and doing so much extra to help serve our community so that we can do things more than we were before at a higher capacity so that we can, you know, get in front of this situation. I think that all hands on meeting was so crucial for not just the buy in of getting everyone on the team a real buy in, like a sincere and authentic buy in, but also to like just talk about it, right? It was like, okay to talk about the situation at hand and people, people felt like they were being heard. Like, I have fears, I have worries, I have struggles with what's going on. I also talked to any parents on the team about, you know, making a conducive work environment and being flexible with them. Like, you know, working hours could be different. It's more about getting things done and getting the results than the actual time and effort. So we started to create some leniency, some different boundaries, some different rules as far as, like, what could work and what not. And it was a work in progress. But the team really respected getting on and just laying it all out there and being very upfront with them and not just being like, this is what we're doing in the background. I was very much upfront and I very much told them, like, you know, if we can stay the course, everything's going to be great, but if we don't stay the course, not everything's going to be great. And I just wanted to be really transparent with them. So that was the first meeting I held. The second meeting I held was with our coaches specifically to talk about you guys. So we do have coaching, quite a bit of coaching, and we do have quite a bit of clients. And I know one of the things that people are doing is they are looking at their bills and they're saying, what can I cut? Right? And one of the things that I recognized in my high end groups is that people, the high end level, are classifying their expenses and their investments differently. And I wanted to make sure that our coaches knew that our coaching was not in a disposable expense for our clients. And I wasn't saying that to Keep the clients. I was saying that to help serve the clients in the best of the ability. Because I know specifically that if we are in our student's corner, if we're helping our community, if we're truly there to help them succeed, then they're going to do much better than when they're on their own. And if they're already paying for it, and then why cancel that? Why not get the support through this? Why not have someone in your corner to help support you and get you, give you the strategies and tools to do that? So I gave the coaches the breakdown of the strategy as well. And what we did, and this is very specific, tactical. Okay, what we did is we looked at our clients and we labeled the clients with a red, yellow or green. Okay. Clients that we thought are probably going to look to cancel, probably going to kind of in the middle. And then those who are just fully committed, and we reached out to all the red ones first, then all the yellow ones, and then we just were in communication with the green ones and we assured them that we were there to specifically help them and that their coaching specifically is going to be relative to the situation they're going into right now. Forget everything that they signed up for, unless that was something specific they wanted to talk about. We're talking about how do we get over challenges, obstacles, and support you through right now. And the response has been nothing short of amazing. I think out of hundreds of people that we coach, a very handful maybe chose to not renew or cancel or put their things on pause due to circumstances with our coaching. We role played and also created rules and boundaries and for students basically saying, like, listen, if you got laid off, you don't have any income coming in and, you know, you were just put in a really poor situation. You know, we're going to pause your account for the next 90 days so that you can get back in the groove of things. And then in 90 days we'll follow back up with you. So it wasn't a big deal for anyone in the health like that got sick. Automatic pause, right? No, we're not going to. We're not going to charge anyone for that. People who were kind of like on the boat but, like, didn't lose income. Our goal was to make sure that you were getting the support you needed. So we added extra things. We did the strategy more for the same. More for the same, meaning that for the same price that they paid, we're gonna give you more of our service, more of what we can do to offer you to make sure that you are supported in this situation. So what we did was we added a specific game plan call for those students who can actually game plan of the strategy of. Here are the three projects that are going to help me get through this. We also added emergency calls so that, you know, if there wasn't a scheduled time and you're going through something and you needed to talk to someone, you can hit us up a couple times throughout the month or months and we're going to take you on an emergency that we can help you. Our students appreciated that so much what our coaches said. So, you know, getting that call with the coaches was important. And I think what really sums up with this is again, staying in front of the message. I think that's the most important topic that I or key principle that comes with this is staying in front of the message so that, you know, people understand that you're leading them through it. And I can't now having the experience of going through this. I'm so happy that we were able to do the things that we were able to do that I was able to learn so quickly from so many amazing people and just try things out and just take action. And the team just loved it, and the coaches loved it, and our students love it, and now the community's loving it. Like, you're getting these videos for this millionaire mindset in times of crisis. It's a completely free series of us just sharing exactly what we're doing, how we're doing it as a team, what we're going through, just being very transparent and true so that you guys can learn as well. And all of this is just the breakdown of really just taking action and proactively looking at the situation and saying, how can I best serve our students? How can I best serve our team? How can I best serve my family? How can I make sure that I best serve myself? And all those questions that I just asked is, we listed out answers, we brainstormed ideas, we brainstormed all these things. And all the things that you are seeing right now is a result of us proactively taking that time to do that. We're not reacting to situations, we're proactively making them. So I hope this was helpful for you. This was interesting experience for me. I feel very fortunate that I had such great leaders to learn from in this situation. And I feel honored that I'm able to pass the information that I learned from extremely successful people that really helped me through this situation. And I feel blessed that I was able to do that. So I'm happy to share that with you. I hope you love this video and what I want to say is what's your one big takeaway from this video? Comment below this video let me know what your one big takeaway is from this video so that you can ingrain what I just said into your life and also use it actionably. What is the tangible thing that you want to take away from this video and go and do yourself? Is it a family meeting? Is it a team meeting? Is it a community live video where you're going to answer some questions? What is it? What are you going to do to stay in front of this to show that you care about what's going on, to be authentic, to show compassion, to really just give your all and just serve from your heart. Talk to you soon and have a great rest of your day or night or morning whatever it may be. Talk to you soon. Bye for now.