176: Covid-19 Is Truncating Your Sales Activities, Therefore...

<p>Covid-19 Is Truncating Your Sales Activities, Therefore….</p> <p> </p> <p>First the agreed purchases were postponed.  Then the events were cancelled.  Next the sales calls were canned.  Buyers are in lock down, many are at home working from there.  The economic fallout from the virus is weaving its way into the fabric of the economy, starting with the small and medium enterprises. It won’t stop there because this is a global phenomenon like the Lehman Shock.  All the little fish around the world stop spending, because they are trying to preserve cash and commerce grinds to a halt.  Big fish are not immune, because they depend on the little fish to open their wallets and buy their stuff.  The effect is not as immediate as for small companies, but as the damage to small companies adds up, the big guys begin to feel the heat and they stop spending too.  Ring a bell with you?  Is this going to be a re-run of 1929?</p> <p> </p> <p>Supermarkets and convenience stores are doing well, because people want toilet paper, face masks, alcohol hand cleansers and daily food needs.  These suppliers are doing well too, because there is increased demand.  However, do you want to go to a department store, eat out at a restaurant, invest in your business, buy an insurance policy, shares, a new car, a holiday, jewellery, clothes, shoes, movie tickets, etc. right now?  Maybe not. </p> <p> </p> <p>For B2B commerce, the buyers are not interested in seeing you and are refusing face to face meetings.  They are not in a positive mood, because everyone can see we are either already in a recession or are about to enter one, so mentally, it is time for contraction not expansion.  How do you sell to people who are not able to buy, because of a mega event like Covid-19?</p> <p> </p> <p>Not every single company is out of the game.  Some have strong cash reserves and will weather the storm.  Others are in industries, where there is demand and they are generating cash.  We all need the very basics - electricity, water, food, etc,. We cannot kno