What a blessing this time of lockdown is for any business owner. Finally, you’ve been gifted the time to get to work ‘ON’ your business. Invest your time wisely in these critical areas that will allow you and your business to not only survive and thrive.
1. Dreamchart
Make this a fun activity for you and your family. Sit down together and design your dream life. Make it personal, fun and THINK BIG. This could be done using old magazines
2. Vision (Why, Purpose, Goals)
What is your long-term vision for the company? Why do you do this? What is your BHAG (Big, Hairy, Audacious Goal)? What is the purpose behind you doing it?
3. Learning and development
“The only place that earn comes before learn is in the dictionary” Set some time aside for yourself every day dedicated to learning something new. Create a plan that focusses on your highest priorities for learning and development. Make use of books, TED Talks and online learning. Invest in you first and the interest will be the investments in your people and your business.
4. Organisational chart
Despite the next few weeks being slightly uncertain, it is the certainty of the future that we can create and hold on to. Think for 3 years time. What divisions will you have? Who and which roles will you need? Think about your current employees too and the plan you have for them. This helps create a visual picture of your hierarchy, no matter how flat, so that you have a plan to work towards and keep you focused on the bigger picture.
5. Ecommerce
The world was always heading online, the pandemic has just sped up the process. You need an ecommerce arm to your business, don’t fight it any longer. Find ways to monetise your services and sell them online. It may require some thought and creativity but it will be worth it.
6. Digital footprint
Your digital footprint goes further than your website. You as a business owner are a huge part of it. Start by analysing your current footprint. Google your name, business and keywords – do your research. Make the adjustments necessary. Are there other people dominating your search areas? Improve your online presence and change this.
7. Get to know your clients
Surveys, polls, emails, calls and anything else to engage with your customers. People like to feel like they’re being looked after during these times, show them you’re there and stay engaged. Get feedback on your business and their experiences and use them to improve your business.
8. Revise products and services
Revise and evaluate every single product and service you offer. Can they be transitioned online? Can they be delivered virtually? Can you bundle things together, collaborate with partners or launch that product you’ve had planned for a long time? Change is the reality right now, use it to your advantage.
9. Marketing
Marketing is the key to any business and the only way to ensure a stable pipeline. Now is the time to up your marketing knowledge and expertise. Critique what you’ve been doing and learn about new avenues. Create a strategy for during lockdown, post lockdown and an Annual Marketing plan for the new normal.
10. Review financials
Start with a new budget for the next 90 days and make sure you add the cashflow projection element to it. What is coming in and what needs to be paid? Focus on the next 3 months to ensure you can get back up to speed as soon as possible. Grant Lottering says: “The goal doesn’t change but your training plan may have to”. Take your most recent financials and analyse every element.
11. Standard Operating Procedures
Whilst people seemingly run businesses, it’s critical to understand the business cycle: The business owner supports the team > the team support the customers > the customers support the business > and the business supports the business owner. The more structured and synchronised this becomes, the easier it becomes. 80% of your business needs to run on routine so that you’ve got the energy for the 20% that is an exception.
12. De-clutter and re-organise
Not just your home but everything. Less clutter creates the feeling of space and comfort. It creates a new vacuum to grow into and has physical, mental and emotional benefits. The more your time seems productive, the more you have the energy to keep going. Start in one area and work from there. Perhaps set a daily area of focus and do as much as possible in that area for that day.
13. Action plan for re-opening
Whether you’re working from home, or have had to close your business completely, know that this too will end. What is your plan once you re-open? There will be a feeding frenzy once the ‘new normal’ returns and you need to have a very clear reaction plan long before that happens. Don’t get to the end of lockdown still trying to figure it out. You need to be pro-active and ahead of the market, your competitors and your customers.
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