How to Win as a Business Owner in 2023
One of the biggest challenges business owners and entrepreneurs are facing right now is knowing how to move their businesses forward in a constantly-changing world.
Can you believe it's already been 3 years since we were hit with the start of COVID-19 that had the entire world shut down?
In many ways, we are still feeling the after-effects of it, and I don't think our world will truly be the same.
As a business owner, that time reminded me of the sobering reality that everything can change in an instant.
But even when we can't control the circumstances around us, how will we respond?
That period of time solidified a resilience and strength in me that I get to carry going forward.
It also taught me 3 valuable lessons that transcend beyond just 2020, and are crucial for leading a company through any time of uncertainty.
If you find yourself completely lost and unsure of how to move your business forward right now, here are 3 fresh ways to get going:
1. CREATIVITY AND INNOVATION ARE KEY.
Change is inevitable. So many businesses lack longevity, because the owners stay rigid in doing things the way they’ve always been done. If your company is going to last, you need to learn how to EMBRACE and PIVOT when change comes. View it as an opportunity to think outside the box, find untapped potential, and implement new ways to increase profits. Think back to 2020, for example-- if you owned a cleaning company that serviced buildings that were unexpectedly shut down, it would have been wise to shift your model temporarily to offer disinfecting services to homes or other unreached facilities in urgent need of those services. If you're a brick-and-mortar clothing boutique owner experiencing much less foot-traffic, expand your market by building your online presence and reaching new clients. Whatever field you may be in, ask yourself how you can adjust your business model to capitalize on current conditions. Where there is a will, there is always a way!
2. READJUST YOUR FINANCIAL GOALS
The reality is that spending habits change in times of uncertainty. Unfortunately, millions are out of work right now, and when people experience uncertainty, instinct tells us to conserve and save as much money as possible. If your business has taken a hit financially, there are a few practical steps you can take. One is to reexamine your budget and financial goals. Take a close look at all of your company’s spending, and eliminate any expenses that are not absolutely necessary. Reallocate the money coming in to cover essential expenses. If needed, speak with a financial advisor or work with a Business Coach to take a look at your specific situation and explore new options. Think outside the box!
3. TAKE CARE OF YOURSELF
Did you know that it’s not selfish to take care of yourself? We’re not saying to ignore and neglect everyone around you, but in order to serve and lead others well, you need to be in a good physical and mental space to do so. A lot has happened the past few years, and we’ve all experienced a significant amount of change and new challenges to overcome, so have grace for yourself. Fear, anxiety, and hopelessness have no right to overtake you. Be aware of your mental, emotional, and physical health--go for walks, exercise, pray, stay connected with friends and family, take breaks from thinking about work, watch a funny movie, laugh, eat nutritious foods, enjoy life, and always hope for the best.
Things may seem uncertain and challenging right now, but you always have choices. Choose to do whatever possible to succeed, choose to be wise with your finances, and choose to be the kind of leader that others are inspired to follow. This isn’t the end of your story, it’s just one chapter, and you can be confident that there are good things to come! If you have specific challenges you’d like to work through, feel free to contact us for support. We’re here for you!
Read more: How to Create a Bullet Proof Marketing Plan in Just 10 easy steps
