Article featured in Authority Magazine.
Inflation is taking its toll on us and there is talk of a potential recession, while the tech industry is currently shedding tens of thousands of jobs. Is it possible to grow a business in these conditions? What steps should an entrepreneur take to grow their business during unpredictable times?
As part of our Strategy Series, Kage talks with fellow successful business owners and growth experts to help you discover new ways to grow your business during challenging economic times. Today, we had the pleasure of interviewing Michael Moorhouse.
Michael Moorhouse has been with Mosquito Shield for 15 years and is an essential piece in developing the Mosquito Shield Franchise Corporation. With a proven track record in marketing and business development and extensive experience in the fast-paced environment of sales, Michael uses his expertise to build high-performance franchise teams through leadership, policies and procedures, and accountability.
Thank you so much for your time! I know that you are a very busy person. Our readers would love to “get to know you” a bit better. Can you tell us about your ‘backstory’ and how you got started?
I have been with Mosquito Shield for over 15 years, long before we considered being a franchise company. I originally was hired as a consultant on the lawn care side of the company’s business.
After executing a successful rebrand and launch of their sales process during the recession of 2008 and 2009, I was asked to focus my attention on growing Mosquito Shield and launching the franchise system.
In 2011 started running the day-to-day and learning the business and in 2013 Mosquito Shield was officially ready to start franchising. Ten years later we are now in 34 states with almost 400 locations.
Can you share with our readers a story from your own experience about how you were able to grow your business during a challenging economy?
Home services traditionally flourish in a down economy. Homeowners tend to travel less and therefore reinvest in their properties.
As an example, when the pandemic hit in the spring of 2020, everyone was stuck at home and wanted to use their yards comfortably. This allowed us at Mosquito Shield to provide that relief. In addition, our marketing efforts were more effective than ever.
Neighbors were home during the day, which increased our word-of-mouth business, and they were spending more time on their phones and tablets, which increased our digital marketing reach. It was the perfect storm for our franchise owners and their growth at the local level.
Did you ever consider giving up? Where did you get the motivation to continue through your challenges? What sustains your drive?
In the fall of 2021, we seemed to hit a wall as a franchise company. We had very respectable growth over the years but I was feeling as though we were losing our dominance in the vertical we were in. We had long been the leader in mosquito control and the original service offering dating back to 2001.
Over the last few years, there has been increased competition and heightened awareness for the service. It was at this time that I made the decision to double down on our franchise development efforts and kick into high gear. In early 2020 we invested heavily and partnered with a franchise sales organization to start what turned out to be a historic run in franchise growth over the past three years.
What would you say is the most critical role of a leader during challenging times?
The ability to listen and be open and empathetic. It is important to realize that everyone deals with change and challenges differently, and you should never expect that a one-size-fits-all solution is going to work.
While franchising is popular for its “business in a box” solution, you need to make sure you are operating and thinking outside of the box when faced with adversity.
When the future seems so uncertain, what is the best way to boost morale? What can a leader do to inspire, motivate, and engage their team?
I think the most important thing you can do is to over communicate what is going on in your company, what your challenges are, and the path you are on to try and deal with them. I think it is also important to always globally recognize individual achievements and celebrate wins, large or small.
How can a business leader make plans when the future is so unpredictable?
I think this is actually the most important part of leadership. You should already have one-, three- and five-year plans in place and they should be regularly communicated with your team.
Goal-setting is critical to success but communicating those goals and the path to getting there is even more important. Having a long-term goal helps you navigate any short-term bumps in the road.
What can a company do to avoid losing clients or customers who say, “I just can’t afford it now”?
I think we all need to be open and flexible when it comes to evolving as a company. What worked well when the economy was strong will likely be different than when it is weakening. This may affect how you communicate with the consumer, the payment options that you offer, as well as any warranties or peace of mind you can provide with their purchase.
What lead generation strategies work best during a difficult economy?
I think staying the course with your marketing plan and not attempting to save your way to growth. In fact, it is likely that others have backed off on their efforts, which reduces the noise and allows your message to be heard.
I also think that it is important to really take a step back and inspect what you expect. How are you personally behaving as a consumer during these times? Think of where you should be placing your brand, what you should be saying, and when you should be saying it.
Can you share 3 or 4 of the most common mistakes you have seen other businesses make during difficult times? What should one keep in mind to avoid that?
I have seen companies pull back on marketing, make knee-jerk reactions to adversity and drastically change the view of their long-term goals. In a lot of instances, patience and perseverance will win out.
I have also seen meaningful decisions being made in a vacuum without involving stakeholders. During difficult times it is more important than ever to lean on people around you and lead from a position of strength.
Now to the primary question of our discussion: Based on your experience and success, what are the five most important things a business should do to grow during a challenging economy?
1. Commit to growth. You can’t save your way to growth, and chances are that many of your competitors will cut back on their outreach efforts.
2. Follow the plan. Don’t panic when times get tough. The principles that reinforce success stay the same, so it makes sense to stick with them even during times of uncertainty.
3. Include stakeholders. During challenging times, it’s more important than ever to keep communication channels open. Make sure any and all stakeholders have input before decisions are made and understand the process.
4. Over communciate. Whether it’s internally or with customers, you must keep your audiences informed and updated about your decisions and priorities.
5. Adapt. It’s important to stick to your plan, but within that plan, you also must remain flexible.
Kage Spatz is a Forbes-featured Entrepreneur, now giving brands, influencers, & creatives access to new revenue streams. His Fortune 500-exp. team has been growing businesses since 2012 — apply to grow your revenue faster today.