The word of power is Resilience.
Resilience to deal with what’s going on – as entrepreneurs, we must know and understand the power of resilience.
If we look outside, we will be worried about the economic situation and the political climate.
But instead of being dragged down by the crisis, we as entrepreneurs can do a few things to look up – even if it does seem bleak.
Take inspiration from those who are choosing resilience –
The power of the human spirit is yet under-estimated in face of adversity.
We can go into fight or flight mode when faced with a crisis of great proportion.
We have the choice to make – word of power is resilience. To be able to withstand the circumstances and overcome the difficulties.
Look at those who have managed the curve of challenges with new and varied ways of picking up the pieces where they were left off.
Choose to look at what is strong instead of what is broken –
Many systems maybe broken but some are still standing and strong, which is what we should look at.
It’s easy to get carried away with the trend and find fault with all systems – this will create a stronghold of negativity that will affect everything you do.
Let’s make a choice to look – focus on what can be worked with, what systems that are strong and sustainable.
Re-invent the business cycle-
Change the way you have been working until now. Reinvention is the name of the game.
If you have been doing business in a certain way, you will have to change it. You will have to review every aspect of your business.
Some things need changing so that we can survive tough times.
You will have to decide which needs to be let go and which needs to be updated.
Re-evaluate your goals –
What are your goals right now?
You need to take stock of the direction your business as an entrepreneur is going.
How are you going to evaluate and decide on whether the goals are unchanged?
Can the goals still stay that way or do you have to change them?
Make a decision on cutting down costs –
We can manage costs if we really want to.
As entrepreneurs, you can look at areas of cutting costs and managing others so that the business can actually survive economic difficulties.
Are there areas that need to be pruned down? Remember that cost cutting while important, must not hamper customer service and your core product or service offering.
It’s a tough call and an even tougher act to follow – cutting costs while ensuring the same level of service.
Choose a business model that can survive tough times –
Maybe you need to change your business model. Maybe it needs pruning here and there.
Re-work the business model so that you can survive. Remember that the most important thing is to survive.
Once we go past the difficult times, the business model can be improved or changed. But for now, changes are needed to overcome the situation.