The world changed. Life and business as we knew it were flipped upside down in less than two weeks thanks to COVID-19. The magnitude and speed of change is unprecedented. Business owners were first forced into reaction mode as they focused on the crisis. Their mission: save jobs, manage cash flow, mitigate risk, and maintain client and customer relationships. It’s now time to respond like never before. Depending on your industry, you might need to change your products, services or business model. Your customers, team, vendors and community are counting on small business owners to lead us through the uncertainty.
Historical success formulas
Most small business owners are visionaries. They dream it; they build it. Contributors to success include intuition, guts and just plain hard work. During the past 10 years of economic growth, that was enough. As we trek into uncharted territory, will that be enough?
Opportunity through adversity
Within every crisis lies opportunity. Those who persevered through the dot-com bust of the 1990s, 9/11 and the Great Recession recognize this and have their own success stories. Most tell you they emerged more resilient and stronger than before. Smart business leaders adapt and use current events to prioritize, focus, reimagine and execute in powerful new ways.
Business Operating Systems, the perfect catalyst
Business Operating Systems (BOS) provide owners and leadership teams with a suite of simple and practical tools to run the business more efficiently and effectively. A BOS includes vision, people, processes, structure and a disciplined approach to implementation facilitated by an experienced guide either inside or outside of the organization. A BOS can be deployed quickly to create transformational results. It can be the perfect catalyst for building healthy organizations and creating confidence in the future, while saving both time and money.
For the greater good
More than ever, small business will lead the way to hope and the assurance of a brighter future. As a nation, we have always counted on small businesses and this time is no different. Whether you own a business or help lead one, get smarter. Build it better. Do it more strategically. Your people, communities and nation are counting on you. Build the future with a purpose to harness the power of your people. The result will be more sustainable performance with less friction.
Don’t go alone
Smart business owners know they don’t have all the answers. You’ve probably built a network of like-minded entrepreneurs, belong to a master mind group or have an advisory board. The value of these can be immense. Most importantly, fully activate your network now and
lean on each other. Lastly, find a guide. Think about it. No mountaineer has successfully reached the summit of K2 at 28,251 feet without a sherpa that can show the way. For small business owners, a trusted business adviser is the answer: someone who calls on years of experience consisting of successes and failures. They’ll tell you the truth when others don’t and will see you through to the top.
You can do it. Let’s go!
Catalyst Performance Group
Todd Hanson is the president and founder of the Catalyst Performance Group. He is a business guide helping companies achieve peak performance using proven business operating systems used by tens of thousands of companies worldwide.
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Insight Publications, LLC.