Has your business spent the past year simply surviving or unbelievably thriving? For those of us trying to come out of survival mode, we have likely spent countless hours strategizing and contemplating how to keep our business on track during these tumultuous times. Fortunately, there’s a way through these challenging times; we need to address our emerging business priorities with the same methodology as we would when adapting to any change.
The business landscape is always shifting and it’s nearly impossible to predict what’s coming next. Although we can’t plan for every change, we can be ready to act with confidence when necessary to ensure our business stays on track.
Here are 3 tips to help keep your business moving in the right direction:
1. Evaluate. Recognize what is happening. Be brutally honest with yourself about where your business is today and where you want to be tomorrow. Make a list so you can reflect on and edit it as additional ideas come to mind. Find someone objective who is not emotionally (or financially) invested in your business. This person can be a confidant, accountability partner, coach, mentor, or well-respected colleague. It’s important to find someone knowledgeable who can talk through your business problems, provide guidance, and be a confidential sounding board.
2. Create an Action Plan. Put together an action plan. Don’t overthink this. When major things happen, people have a tendency to over-complicate things. Get back to basics and take a simple step-by-step approach. Who is best equipped to help you? What do you need to do? How are you going to do it and by what date? More specifically, what top 3 actions do you need to take to get there? Create an action plan and write it down. Glue it to your forehead. Just kidding. Place it somewhere you can see it every day.
3. Be Agile. Be flexible and adjust your action plan as often as needed. As businesses continue to deal with the fallout of this past year, it’s critical to adjust plans and consider multiple scenarios to adapt to potential changes. Embrace a continuous planning approach. Agility and flexibility are at the core of how businesses adapt to change. Utilize agile business planning and forecasting methods to prepare for today’s environment and tomorrow’s impact.
Businesses will continue to be challenged this next year and beyond. Take time to evaluate your current situation, create an actionable plan, and remain agile during the process. This will be the most effective way to refocus your business and plan for unexpected changes. Remember that tumultuous times also present opportunities to leverage, innovate, and thrive. It’s never too late to redraw your business strategy and drive a new course of action. This will ultimately provide you a roadmap for success.
For additional resources, consider searching online for “15 Smart Ways To Safeguard Your Small Business In Tumultuous Times” published by Forbes.
The New Braunfels Chamber of Commerce also offers seminars that can benefit business owners. For more information, visit www.chamberinnewbraunfels.com/events/seminars.