SMALL BUSINESS SUCCESS
How To Bulletproof Your Business To Survive And Thrive In Any Economy
Well managed businesses can survive during any type of crisis, similar to what the world is currently facing right now with the Covid19 pandemic. In this article, I am going to share how to bulletproof your business to survive and thrive in any economy.
- Face the Current Reality
- Calm Down
- Do a SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats}
- Create Short Term Priorities and Metrics (Rocks and KPI’s) to get thru this
- Create Your Own Economy, Be Opportunity Minded
- Jump on the SBA’s Disaster Assistance Programs – Now!
Now is not the time to panic. Businesses should prepare for “The Surge” as soon as we get past this crisis and resume quasi-standard business operations. However, there will be changes and company leadership must prepare for what will become the “New Normal”. Having over 35 years of experience with small to mid-sized business ownership, start-ups, and Fortune 500 corporations, I can say that, right now it is mission critical to “get a grip,” adapt and evolve or die.
To prepare for the “New Normal,” successful business leaders are using this time (Covid19 pandemic) to work on their business’ foundation:
- The Big “L” – Leadership, Become a Great Leader
- Having The Right People in The Right Seats – to Increase Efficiency and Profits
- Know Where Your Business Stands – Develop Your Business Intelligence, Data is Power
- Build a Strong Foundation – “Franchise Your Business,” Implement a Business Operating System
All great companies have great leaders (regardless of company size). Successful leaders draw on education, experience, and guidance from mentors, always knowing that their decisions affect their people, as well as their profits. In a constantly changing business environment, being able to recover quickly and stay the course in the face of repeated challenges is critical.
People create 85% of all business issues. So while you may have had to furlough some of your employees due to the current economic turndown, now is your time to revamp your hiring processes and boost productivity throughout your organization by 20%-50%. Our data-driven technology can predict who is best for each function in your organization, and you can try it for free here.
There has never been a better time to take a good hard look at the reality of where you are and where you want your business to go, You can use this time to develop a road map to create, track and project your KPI‘s and business analytics. that allowing you to use good hard data to run your business instead of hopes, dreams, and wishes.
As a Certified St. Louis EOS® implementer, I can attest to the level of success businesses achieve when we apply EOS® to strengthen the Six Key Components™ of their businesses – Vision, People, Data, Issues, Process, and Traction.
Get More of Everything Out of Your Business
We get our best results working with entrepreneurial leaders that can put their ego’s aside and are willing to be open, honest and transparent.
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