Crack On Through Covid
Many businesses have really struggled to cope with the Covid crisis, whilst others have cracked on, adapted and even thrived.
What can you do to adapt and thrive right now?
Start with the basics.
It’s not easy, there are no magic answers, but here are some of the things my clients have done.
Job one is to obviously to stay in business, so cash is king, queen and not the joker!
Some businesses told me they are all over the cash position and done all they can. I suggested they mobilise a Runner - a colleague with the remit to examine every cost and spend - nothing off limits. This has often uncovered significant cash generating opportunities. Desperate times call for different perspectives.
Talk to your bank or investors and keep them onside with your plans and intensions. In these times banks may assume no news is bad news.
Make sure you are looking after the colleagues you need to keep. Treat all your colleagues with respect and they will walk through walls for you; they will be just as nervous about their futures as you are. Share your plans and engage them in the process of keeping the momentum.
Talk to your customers and make sure you understand their challenges. Ask what you can do to help, this may turn into unexpected new opportunities.
Check to see how effective your business generating system is in optimising any sales opportunities that exist .Get the facts on average order sizes, conversion rates, effectiveness of social media campaigns etc.
I know these are basics, but they can be ignored in the heat of battle.
How have some businesses not only adapted, but thrived through the Covid crisis?
The fact is that many entrepreneurs thrive in crisis. They see and create opportunities where others just see problems. Whenever the going gets tough the tough get going. As one said, ‘Failure is not an option’- not a bad mantra in the current situation.
How do entrepreneurs create new opportunities and thrive?
They identify customers problems, create a solution, then sell the solution to the world. It’s not rocket science it’s a mindset, which you can choose to adopt. If you can change your mind you can change your mindset.
Maintaining a positive mindset will also help you to provide the leadership required to Crack On and succeed.
In my new book Telling Tales you will discover how 45 businesses adapted and thrived and this may inspire you to do the same.
Very best of luck.
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