This blog is all about choosing to be steady regardless of the ups and downs that we may face in business. We have all had those people in our lives. The ones that constantly seem to be riding this roller coaster and it is REALLY easy to get caught up in it if we are not careful. Well the same thing can happen in business. There are so many external factors that influence how our business performs and we can choose to ride along on that roller coaster or we can resolve to have a more moderate approach. But how do we have a steady approach in business especially when so much is outside of our control?
The answer is simpler than you think! At The Centr, we believe that if you work on 3 things in business you can keep a cool head even when things seem like they are caving in around you. So let’s dive into those three things!
Innovation: How to best service your customers, employees and vendors. Be creative with all those things. The businesses that seem to struggle the most in this department are the businesses that have gotten so stuck in the “what” and “how” of their business that they aren’t willing to change. However, if we shift that mindset to be less internally focused (ex: what products are we selling) to more externally focused (how can we best serve our customers) then innovation will be a lot easier to welcome.
Agility: Think of your company’s long-term gain and then be willing to be flexible on the goals that get you there. Be willing to look forward and pivot if need be.
Focus: Focus on what you’re good at. If you are the visionary in your company there is value in having the right people in the right positions so you can focus on your role and see the big picture.
Using innovation, agility and focus as your anchors will help you avoid making fearful decisions and will position you in a state of mind that is able to make changes when changes are needed.
Here are some helpful questions you can also ask yourself to ensure you are ready for anything.
- Have you had to shut down your business unexpectedly or go virtual? If so, what lessons did you learn in that time?
- If your company tripled in revenue what would that do to your company? Or in other words what would break?
- What is exhausting your time? Is there a contingency plan that you can create to move those tasks off of you so you can focus on where you are needed?
- What works well in your organization?
- How resilient is your business? If your revenue stops for 3 months would you have enough cash flow to keep things running? What are your risks? Do a risk assessment to expose vulnerabilities.
- How will making changes affect your customers, employees and vendors?
- Look at your employees and staffing–what does it look like if things change? How will you help them or prepare them if staffing changes?
I hope that you take the time to think through these questions that way your business does not waver in uncertain times.