How changing your perspective can transform your business

Can your mindset help your business survive an economic downturn?

Yeah right! I can already hear the majority response. But let’s stop and think again…

I suspect you've heard the saying: "Whether you think you can, or you think you can't, you're right."

I've seen business owners in the same sector tackle the same challenges very differently and, of course, achieve very different results.

A different way of looking at the problem

I have a client in the fitness sector. She leases a small space which she uses to run step classes, offer one-to-one training and earn income by letting other trainers use the space at set times.

Then her business was suddenly disrupted.

Initially she was terrified. Terrified she would lose everything she had worked so hard for. Terrified that she would have no income. Terrified life would never be the same again.

She was right about the last one. Things would never be quite the same again. However, the other catastrophes did not materialise.

We worked on her fear and looked at some of her concerns from different perspectives.

Fear 1 – I will lose everything

My client believed she would have no clients if she could no longer open her gym.

I asked her to think about it from her clients' perspective.

She realised that her clients still wanted a solution and were just as frustrated as she was that they could not attend classes or one-to-one sessions.

Then I made her dig deep. What could she do with the restrictions she faced?

She asked her clients.

Some wanted to work out in the park, others were happy to train online, and a few simply wanted to wait things out.

In response to her clients' feedback, she developed online training sessions and took her step classes online.

The online step classes ended up attracting clients from all over the UK. Her original clients told their friends and, because location no longer mattered, many more people signed up than had previously attended her face-to-face classes.

She also began running online one-to-one sessions before realising she could pre-record training programmes for clients who wanted greater flexibility. In doing so, she grew another part of her business.

Fear 2 – I will have no income

My client ended up with a much wider client base than she had before.

Even after returning to face-to-face sessions, she continued to run online step classes (getting the camera angle right with people in the gym was challenging, but eventually sorted!) and still offers her pre-recorded training programmes.

When she reviewed her accounts, she realised that, aside from a downturn during the first couple of months of disruption, she had maintained her income. Better still, her income increased by around 35% the following year because she retained so many of her online clients.

Fear 3 – Things will never be the same again

Yes, this was true.

My client now has a larger business than she had before and enjoys greater flexibility because many of her clients now use her pre-recorded programmes.

Contrast this with another fitness instructor I met through a business networking group.

She was convinced it was impossible to work online because she didn't have the technical know-how and was "too old". (Ironically, my client was probably older and didn't have those skills either, but she asked her son for help.)

When circumstances changed, this instructor found herself rebuilding her business from scratch.

The moral?

When we're scared, it's very easy to become wrapped up in our own concerns. This is perfectly natural, but it can make it harder to spot opportunities.

Being willing to challenge the assumptions we make and look at a situation from different perspectives can make all the difference to our ability to adapt and thrive.

I sometimes use an approach called perceptual positions when helping clients work through difficult situations. It works best with an objective facilitator, but it can also be done on your own.

Step 1: Consider your perspective

Ask yourself:

• What beliefs do I hold about this situation?
• What is most important to me?
• What assumptions am I making?
• What do I want to achieve?

Then take a short break before moving on.

Step 2: Consider other people's perspectives

Think about everyone else involved.

These could be clients, colleagues, employees, suppliers or associates.

Put yourself in their shoes and ask the same questions:

• What beliefs might they hold?
• What is important to them?
• What assumptions might they be making?
• What do they want?

Step 3: Take an independent view

Finally, imagine someone with no involvement in the situation.

What objective advice might they offer?

What solutions or opportunities might they spot that you have both overlooked?

These simple steps can often open up new possibilities and help you move beyond your first assumptions.

Remember, the way we think about a situation has a powerful influence on the actions we take.

As the saying goes:

"Whether you think you can, or you think you can't, you're right."