Our business environment is changing daily right now. New regulations are being implemented, different stimulus packages passed (or not passed) on a national level, holidays on the horizon, and much more. With everything in flux, things can feel unsteady both in the workplace and in life.
At Business Success Consulting Group, we work with companies to create a stable base from which they can face new challenges of all kinds. This includes a rocky business environment.
Ten Methods for Handling a Changing Environment
Even with the world around us changing, some things can remain stable. Your business, for one, can still prosper as the world around us continues to evolve.
Here are ten strategies that you can put in place right now to keep your business growing in unsettled times.
1. Put plans in place ahead of time
Even as things change, there are predictable aspects in any business environment. For example, the holidays are right around the corner, then the new year, and after that comes each quarter in 2021. You likely have goals for the holidays, new year, and beyond.
It’s time to reach for those goals and plan ahead. Plan for the predictable and leave room for the unpredictable, then get those plans understood by staff and begin implementation as soon as possible.
2. Work on stabilizing your business
No matter what is going on in the world around you, your company needs to be growing from stable foundations. It is time to examine your flowcharts, organizational makeup, business processes, and procedures to ensure your company will run smoothly no matter the eventuality.
3. Stay in touch with your customers
Your customers are experiencing the instability in the world around them right alongside you. This means that you have the opportunity to be there for them. Your company may be able to provide the support customers need to feel steadier during this time.
If nothing else, staying in touch with your customers lets them know that you are still here, operating, and ready to help.
4. Ensure employees have what they need to work efficiently
Many employees are either staying remote or have gone back to working remotely during the late fall and winter months. This means that they may need some additional help. Find out if their home office is set up appropriately, if they need a software upgrade, or if that new system is working out for them.
If you have a large company, now would be a perfect time to conduct a company-wide employee survey to discover what bugs are slowing down your remote and in-person employees.
5. Stay agile
2020 has been marked by business agility. Right now is no different. Be sure to continue to provide what your customers need with online delivery, curbside pick-up, and free safety gear like masks, gloves, and sanitizer at the door. It may also be a great time to offer online services that you had previously dropped such as online classes or video conferencing events.
6. Promote your products and services
As you continue to grow and change with these constantly developing times, be sure to promote your new services. Customers need to know that you went out of your way to provide convenience and safety – with their health and needs at the forefront of your thoughts.
7. Put in policies now that you predict will be mandated later
There are times when the writing is on the wall. You may want to hold out on implementing some standard because of inconvenience or expense. This is understandable. However, if it’s clear that the policy will be implemented and it’s only a matter of time, begin implementation now or at least plan and budget for the implementation. There is no reason to be caught flat-footed and look on as an alert competitor grabs your portion of market share.
8. Set an appropriate budget
Budgeting is vital during uncertain times. You need enough in the bank to implement changes and update material while serving your customers. Depending on credit can be risky, so work to set a predictable budget that you can cover with your company income.
9. Pivot as needed
Many companies are pivoting right now, and yours can too. For example, businesses like Walmart are providing a month of Black Friday sales, rather than counting on the rush on November 27th. Others are offering early discounts to ensure they can deliver despite any mail slowdowns.
Some salons that have gone back into a full lockdown are working to develop online tutorials for cut and coloring from home and selling the products with which this can be accomplished. Massage therapists are teaching Thai massage over Zoom – all you need is your partner. Many, many other service-based companies are offering some outdoor classes or online classes.
There are many ways you can pivot your company. This time can become an opportunity; you simply need to create that opportunity.
10. Continue to deliver
Do whatever it takes to continue to deliver to your customers. There are many, many ways that companies have kept delivering even when jumping through hoops – and you can do it too!
Are you ready to grow your company from a firm foundation? Contact Business Success Consulting Group today! We offer our services remotely and can work with you no matter how the business environment looks.