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Category - Resilience

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1
Six Keys To Business Success
2
Risk Management Planning for the Coronavirus
3
4 Tactics For Facing Setbacks
4
Business Owners’ Self-Care
5
Business Owners’ Resilience

Six Keys To Business Success

Small businesses succeed because their owners do some critical things well.

At times like this when the world is not helping you, when the pandemic shuts your city down, when the economy is in freefall, it seems obvious that we need to apply some emergency strategies as I wrote about in May this year.

But what is less obvious is that any crisis strategy you take to keep your business afloat, even those I recommended, is still based on the key business principles you need to have in your business, whether you are starting up, looking to grow, or reviewing your ability to survive, change or pivot.

Every strategy and tactic to employ now – as they are when you are in the growth phase – should be focused on the six keys to business success.

Even with multiple strategies and tactics in your plans, only those that reinforce these six key attributes are deserving of the focus right now, especially now when you can’t waste time on non-critical use of time and other resources.

If you look after these six key factors, you will be able to do what you plan to do, every time.

In this week’s post, I’d like to explain what these six fundamental attributes are, and how you can apply them in a simple six-day challenge to sustain or grow your small business.

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Risk Management Planning for the Coronavirus

I know that I have only just published my usual weekly blog post, but as one of my clients said to me, “we live in interesting times.”

I wanted to quickly put out there what a small business can do in relation to risk management planning the effect of the coronavirus pandemic on their businesses.

But first, let’s get things into perspective.

Do not panic. Do not spread rumours and myths. Do not subscribe to the mob mentality that is now on display in supermarkets across the country. Get your information from trusted medical sources including government health departments and information sites.

However, in these “interesting times” it is prudent to be over-cautious in preparing for how the coronavirus can affect your business, so let’s get into what risk management planning you should be doing.

Let me give you a “checklist” of risk-mitigation procedures and strategies to implement in your small business – no need to give me your email, no need to download – here it is.

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4 Tactics For Facing Setbacks

Sooner or later we all face setbacks.

Some are not serious. Perhaps it’s a potential lead that you’ve been courting, and they finally make up their mind not to go with you. Sure, you’ve wasted some time, and sure you could do with the extra sales, but you move on to the next lead.

But what happens if it’s more serious? What happens if it’s a group of clients that represent half your business who decide to go elsewhere? What if it’s a fire, or a serious accident, or the death of a key person in the business? How do you face a serious, potentially business-breaking setback head on and come back from it?

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Business Owners’ Self-Care

Read the title and I’ll bet you’re all wondering what’s happened to me? Where are the step by step systems and articles I give you about how to build your business? What’s all this woo-woo “self-care” stuff?

Well if you really have been following me you will know that I constantly talk about the resilience required to own and operate a small business. In my online course “Start Your Own Business” I start with a module called “Your Personal Readiness” about making sure you know about the pressure and stress that comes with the success of entrepreneurship, and that you are set up for it.

Running a business is all about you – your idea, your vision, your drive….and your vulnerabilities.

While you (often?) celebrate wins, you can’t pretend it’s always a walk in the park.

So as a business owner, you need to stay healthy physically and mentally over the long haul to grow your business.

Here, I’m going to give you the 5 keys to ensuring that you “spend” enough on self-care through your business success.

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Business Owners’ Resilience

This week, I was reminded how stressful owning and operating a business can be.

A friend had a stress attack that seriously stopped him in his tracks. His doctor said that it could have led to a heart attack from the stress it put on his body systems.

Now, I’m not saying that it was caused by something in his business, but I know he works hard at the business, always looking ahead and thinking about his team, the business key indicators, and on how to improve the business. What I am saying is that for all of us, business is stressful.

As business owners we owe it, not only to ourselves, but to our families and loved ones, and to those who depend on us, to stay healthy and resilient. At the end of the day, resilience is about mental flexibility and the ability to adapt to change and uncertainty.

How do you do that?

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