![Coronavirus And Online Business: What Does The COVID-19 Crisis Make Possible [LNIM195]](jpg/depositphotos_5541897_xl-2015-1080x675.jpg)
It is easy to live in fear when a crisis hits, but what if you asked a different question? Mark explores what the COVID-19 crisis made possible for online entrepreneurs and shares foundational advice for using disruption to build rather than retreat.
What You'll Learn in This Episode
- Why asking “what does this make possible” is more productive than operating from fear
- How to use unexpected free time to strengthen your business
- Why creating helpful content during a crisis pays dividends long after it ends
- Practical advice from Cliff Ravenscraft and Mark Schaefer on navigating uncertainty
Episode Summary
When a crisis strikes, the natural response is fear. Mark acknowledges that the economic impact of COVID-19 was real and affected everyone, including online business owners. But he challenges listeners to make a different choice.
Cliff Ravenscraft frames it perfectly: “When something happens, it's important to acknowledge the thing, not to make it bigger than it is, but it's also important to take that next step, which is to ask the question, ‘what does this make possible?'”
Mark Schaefer, a highly regarded speaker and author, reinforces this with practical advice that pays off tremendously when the economy recovers:
- Use the free resource you suddenly have: time. Work on your next product, redo your website, build deeper relationships with clients and colleagues. These are the activities that always get pushed to “someday.” Crisis gives you that someday.
- Create content that helps people right now. People who are not working have time to consume content. They are taking courses they have been putting off, listening to podcasts they have been meaning to try, and looking for solutions to new problems. Be there with helpful content when they need it.
Mark's perspective for online entrepreneurs is clear: for the people who are trying to see what is possible, how can you help by serving them at an even higher level than before? The entrepreneurs who focus on service during difficult times build trust and loyalty that lasts far beyond the crisis.
The message is not to ignore reality or pretend everything is fine. It is to acknowledge the situation honestly, then channel your energy toward building rather than hiding.
Key Takeaways
- Acknowledge the crisis honestly but do not make it bigger than it is
- Ask “what does this make possible” instead of dwelling on what you have lost
- Use unexpected free time to invest in your business: products, content, relationships
- Create helpful content during a crisis. People have more time to consume it and will remember who served them
- Focus on serving your audience at a higher level than ever before
- The entrepreneurs who build during downturns capture market share when conditions improve
What's Changed Since This Episode
Mark recorded this episode in March 2020, at the very beginning of the pandemic. The advice he and his guests shared proved remarkably prescient. Online business experienced explosive growth through 2020-2022. Entrepreneurs who created content, launched products, and invested in their businesses during the early months of the crisis were rewarded with significant audience growth and revenue.
Cliff Ravenscraft continues to coach entrepreneurs on mindset and business strategy. His “what does this make possible” framework has become a widely adopted approach to navigating any business disruption, not just pandemic-related ones.
Mark Schaefer has continued publishing and speaking on marketing strategy. His advice about using free time to build deeper relationships and create more content was validated by the content marketing boom that followed the pandemic.
Resources Mentioned
- Cliff Ravenscraft — business and mindset coach
- Mark Schaefer — marketing author and speaker
Related Episodes
If you found this episode helpful, you might also enjoy:
- LNIM196 — Coronavirus Online Business Tactics: How To Thrive And Survive
- LNIM198 — Managing Business Cost and Cash Flow During The Coronavirus
Listen and Subscribe
Listen to Late Night Internet Marketing on Apple Podcasts or Spotify. Have a question for Mark? Call the digital recorder at 214-444-8655 or drop a comment below.
