Yes we can!
The COVID-19 virus has almost brought the world economy to a screeching halt. Especially hard hit… small businesses. But now we’re coming back. And we can be better than ever.
YES, IT WAS BAD – WE ADJUSTED – WE HAD TO – WE DID – WE’RE BETTER NOW
Relying on resilience, persistence, and focus we learned a lot during this time. We learned we needed to have the flexibility to actively incorporate our new knowledge into new and better business behavior. We knew it would be important to be more than merely paying attention, to be listening. We needed to be actively seeking out feedback.
Will it be business as usual now? Perhaps. Or will it be some kind of new normal? Possibly. No one knows. We’ll just have to see.
Our “new normal” probably won’t be just a return to the “before,” as the pandemic response has accelerating several transformative processes that might be hard to reverse – from the expansion of governments’ role in the economy to the adoption of remote working protocols.
Hunkering down may be the preferred strategy in tough economic times. But companies that recognize the opportunities and modify their business model can actually grow. Many have.
To successfully cope with these kinds of unforeseen challenges, we may have had to question, reassess, and redefine our managerial thinking. We may have had to reexamine the context in which we make decisions. Some of our basic beliefs and managerial wisdoms may have needed to be challenged. Yup.
WHAT CAN YOU PERSONALLY DO GET YOUR CUSTOMERS BACK, TO BRING IN MORE MONEY EVERY WEEK, AND TO MAKE YOUR LIFE EASIER AT THE SAME TIME?
START WITH A MAKE OVER
- Review your STRATEGIES, how you generate revenue and profit.
- Clarify your internal and external KEY MESSAGES, especially your marketing messages.
- Revisit your VISION and ask what’s rising on the horizon?
- Improve CASH FLOW, examine overhead, what might be eliminated, labor especially?
- Align around your HIGHEST PRIORITY every day.
- Build NEW REVENUE streams.
- RECLARIFY YOUR ROLE and that of everyone else.
- RETRAIN to the strengths of your people.
- CLARIFY YOUR BEST CUSTOMER.
- LEVERAGE YOUR POSITIVE PUBLIC RELATIONS from the last two months.
NEXT CREATE A DAILY POWER HOUR and take your productivity to the next level. A power hour is when you buckle yourself into your chair and do what needs to get done. No distractions, unrelated calls/texts, negative self-talk, unnecessary breaks, unproductive time on social media, or anything not directly related to the task. Schedule one Power Hour into your day, every day. Do this.
Most Important Thing: BUILD 6 MONTHS OF CASH RESERVES. Put it in the bank and keep it there.
How do companies overcome unforeseen obstacles? With strong leadership, which creates a climate in which the risk of failure does not overwhelm real opportunities. Even when funds are short, it is important to allow, and even encourage, experiments and pilot programs.
Ask yourself what are you building so that your future can be better?
Keep looking for faster, cheaper ways to operate.
Think about how you can establish more RESILIENCE.
Keep seeking new ways to connect.
LEARN FROM SUCCESS. It is often said that we must learn from past mistakes, so we don’t repeat them. Less said, but equally valid, is that we need to learn from past successes.
Go on the offensive. Invest in success. Focus on customers. Unleash advertising and marketing power. Employ game-changing strategies.
Be a leader. Set clear expectations. Invest in people. Mobilize for growth.
Plan your future. Do all the right things right. Live your dream.