Coronavirus and Franchising: Anthony Trucks, CEO of Identity Shift

The coronavirus continues to have dire effects on businesses across the country, and the franchise industry is no exception. Franchisors across segments are strategizing new ways to support their franchisees, keep customers satisfied, help local communities and come out stronger on the other side of this crisis. 

To that end, 1851 Franchise publisher Nick Powills and Charles Internicola, founder and partner of the Internicola Law* Firm, are covering the coronavirus and its impact on the franchising industry through a webinar series titled “Coronavirus and Franchising: Mindset + Strategy to Recover and Grow.”

In today’s afternoon webinar, Powills and Internicola spoke with Anthony Trucks, former NFL Player, motivational speaker and CEO of Identity Shift to discuss how people can adapt to an unprecedented crisis. 

Here are some of the key insights from their discussion.

Shifting the Mindset

Right now, we have to be able to navigate the unexpected, and that requires a new mindset. Mindset is a subset of our identity. When individuals know how to shift their mindset, they realize they have more control over the unknown. Business owners and individuals need to develop systems to upgrade how they operate in response to this crisis. 

Of course, we can’t just change our mindset and expect things to change overnight. The shift needs to be a combination of our mindset, beliefs and actions. By moving all of these factors together, we are able to see what needs to change, shift our identity and sustain these positive practices. 

Many people go through the same actions each day without ever asking themselves why. Now, more than ever, it is important for business owners, entrepreneurs and individuals to identify what needs to be fixed before blindly trying to change.

Coping With Difficult Times

Our actions and our ventures are what create our internal mindset. For those building businesses, it can be difficult to function when times are hard. It is important that business owners remember that they are not defined by their failures and successes. Instead of focusing on declining sales, take a step back and accept that it is time to pivot. 

Although we may be distracted by the problems that pop up day-to-day, especially during this challenging time, it is important to take the time to slow down and upgrade practices. Similar to updating a computer’s operating system, it is essential to take this downtime to step back and adapt to the new needs of the industry. Learn new skills, techniques and best practices in order to pivot to the times. 

Now is a time for action. Even if we don’t feel like being proactive, we need to wake up everyday and look for new ways to do things. Business owners and entrepreneurs need to lean into the unknown in order to set themselves apart.

Every business has changed or failed, but now, we are all working on the same battlefield of the online world. Business owners need to understand how to enter this virtual world, whether it be creating great content, a strong social media presence or finding new areas to be of service.

Looking Towards the Future

In general, people are great at noticing what they didn’t do right. When individuals operate from that energy, they get stuck in a negative environment and are unable to adapt or take bold actions. Our identity creates our actions and our outcomes, thus our environment. 

In response to this crisis, business owners and entrepreneurs shouldn’t hesitate to be vulnerable and ask for help. For those struggling to climb out of the negativity, find individuals who are operating from a positive mindset and feed off of their energy.

For many business owners it can be difficult to deal with downtime and accept that their business is struggling. Instead of fixating on the negative, it is important to understand that growth and success are connected to mindset, not circumstance. 

There are three major factors to success: tools, techniques and technicians. Franchisees are buying the tools and techniques, but success can’t come without a competent technician who has the ability to transform and adapt to individual and local needs. Now, more than ever, scared money doesn’t make money. 

When the world settles down and we enter our new normal, there will be those who are already at the starting line and those who are left behind. For any business, it is important to strengthen communication skills and embrace technology in preparation of the changing landscape. There are businesses coming out of this that will change the world in the next ten years.