With the pandemic winding down, “normal” life seems to be on the horizon. Kids are once again back to school, people are going out, gathering and showing up to work. Some routines, even new ones, are starting to fall into place.
But, the truth is we’re still far from normal. While home and work are slowly readjusting to post pandemic times, today has its own set of challenges. Rising inflation, runaway gas prices, and supply chain woes are impacting every business and causing uncertainty about what the future holds.
If you are running a profitable small business in 2022, that’s no small achievement. You’ve made it this far, but business is not just about surviving. You want your business to thrive. If you can focus your energy and your resources, you can emerge from these uncertain times innovating and creating new opportunities that will help you reach new markets and attract business.
That process starts with taking stock of your mental and emotional well-being, the challenges you’ve overcome and the challenges you’re facing now, and how you can be best prepared for the years ahead.
Here is my four-step action plan to cut out all the noise and get focused on the things that matter the most– both now and into the future:
1. Start with you. Since you are the creative force behind your business, before anything, you need to gauge how you have been dealing with the emotional and mental roller coaster of the past two years. Do you feel energized or rundown? What has worked and what could be better, at work and at home? Don’t just rely on your own perspective, either. Ask your family, peers, and co-workers for feedback.
2. Review where your business is today. Before leaping ahead, take time to reflect where your business stands at the moment. Run reports and pour over the data together with your team. Think about your target market, your product or service mix, and messaging. Go over your sales and operational data. What is succeeding? Where are the bottlenecks and resource drains? Where are the opportunities for improvement?
3. Clarify your opportunities and goals. If your market has changed, where are your best opportunities, what areas are you likely to achieve the most success? Are there emerging trends or markets that your business can tap into? What threats exist that can stand in the way? What do you need to do to pivot your business and your messaging?
4. Decide how to best use your resources. While this last step may seem out of order, it can only happen when you have a clear understanding of your business’ strengths and weaknesses, threats and opportunities. Now that you know what you need to work on in your business, you can rally the necessary resources to turn your ideas into action. You’ll be able to ensure you and your team are truly putting your time and energy where it counts the most.
With a little reflection and research, you can emerge from these uncertain times from a place of strength and potentially open the door to a range of new opportunities.
