Search Results

When I quit my corporate job my newly friended MBA Emily Cangie who was working for Flavor Paper gave me this book. One of the biggest opportunities during this time of uncertainty is to build your own resilience. It is expected, especially when you are building a business from scratch, that your business will undergo significant wins and losses, ups and downs, zigs and zags.  These moments will occur not only during the development and growth (our steepest learning curves with the sharpest edges) but throughout the lifetime of the business. We’re in an economic crisis that’s a direct result of a global healthcare crisis. While this particular challenge is unique and feels particularly uncertain, the opportunity to gain remains the same. Resiliency is a key ingredient of any successful leadership.  It is learned and tested through experience. Now is the time to learn and test yours. There are 3 phases to dealing with a crisis; Respond, Recover, Thrive. As the media reports more positive news from hard hit areas like New York City, and it starts to feel like there is real progress around the management and control of the virus, confidence will build, businesses will continue to re-open and we will officially be living in phase 2 of this crisis. Now is the time for resilient leaders to shift their mindset from respond to recover. This is what that looks like. Source: Deloitte

“Envy is in the service of whoever you are looking at. If you spend your time looking at other people’s better social skills, powerful connections and finances, you will become bitter and self-pitying. This will kill your art. You just have to get to work and find the multitudes inside you. We all do. Art has been with us from the beginning. It’s never not been there, and it will be there on the other side of all this.” Jerry Salt, New York Times I could not have said it better. I would add, it will not only kill your art, but your heart, your confidence and your motivation. Gather information to educate yourself and then move on. When people ask me what I regularly read or what podcast I listen to, the answer is always the same. If I have a problem to solve or a subject to learn I educate myself. Distancing myself from the distraction of what everyone else has to say is essential for me to stay present and focused on my own goals.

Every business needs a vision and a financial model as key elements of their business plan. While crisis demands change, the needs for those elements remains. Whether you are planning to decelerate, accelerate or stand in place, adjustments need to be made and a new plan adopted. Seeking business guidance? I recommend you contact askhollyhow.com or attend her seminar Monday March 23rd. I am confident you will find her guidance, ideas and tools for managing through this uncertain time invaluable. As Holly likes to say, "it is time to put pen to paper." I could not have said it any better. #smallbusinessbusinessguidance #smallbusinessadvice #crisismanagement

Sharing some thoughts for thinking about the big picture. Take time with your process and your decision making. Stay connected and centered around your values and what makes you feel valued. This isn't time to focus on what might be lost, but reconnect with your higher purpose and what can be gained. Reduce Stress:    It’s non-negotiable. Your business needs a healthy leader. By taking the advice you already know works such as exercise, time away from work, or your favorite breathing app you are giving your business and yourself the best opportunity to succeed. Expenses:  Your business can live without certain things. There is no need to start cutting essential needs until you have to. As a first step, break down your expenses and categorize them into 2 groups:  nice to have, and need to have.  When the time is right to reduce, you will have a clear picture to work from. Reactive Tendencies: It’s true, change and even crisis can be the platform for new and innovative ideas - so much so that great companies have been born in moments like these.  However, great businesses are successful not only because of the idea, but because of the planning.  Don’t let the “urgency” of this environment throw you off your game. Careful planning, vetting and inputs are critical. Reallocate Focus:    At the end of the day, the same simple equation remains; you have a product (or a service) and you have clients.  Understanding the best way to reach them and the best way to relate to them is time well spent. Once you have a clear picture of your financials, shift your time to focus on marketing.  Reminder, messaging what you have rather than focusing on something new is likely the most efficient approach. Dollars:  Most likely you are thinking about pulling back. You might be actually feeling relief that you won’t be at that trade show. Before cutting those dollars out completely, think about shifting them to other activities that put your brand or your product in front of your customer.  Call like-minded companies and brainstorm on partnerships. Peer to peer guidance is often the best low cost way to get things done. Trust your gut: You already know so much, including what works and what doesn't. Lay your dollars down where you know they will be well spent. If you speculating on whether digital is the right way to go; consider that asked and answered. Re-energize. Mindset:  This crisis will either be a self-fulfilling prophecy or a well managed problem: it’s your choice. Your approach to the problem can make all the difference.  Need a little help breaking out of the fog? Call your mentor, google a guru or listen to a podcast around success in the face of challenges. Every business leader needs a community and a set of tools that lifts them up and allows them a shoulder to lean on. Now it the time for you to find yours. Messaging:  It can be challenging to know what to say when.  One wonders if it will be appreciated, or land “right.” Now is not the time to recede; it is the time to dig deeper into your brand and reveal your products as real and confident solutions to your clients’ current pain points.   For example: there is no doubt that while we are low on supplies, and supply chains are being disrupted, thoughts around the impact of globalization are top of mind.  If you are a local American-made brand, that might be something your customers start valuing more, and you should be messaging louder. #smallbusinessbusinessguidance #smallbusinessadvice #crisismanagement