As I drove to work that fateful Friday morning, I could not help but have the feeling that we had just experienced a major change in the political and economic landscape of Europe.
I did have my specific views on whether England should remain in the European Union or not but I have to confess that I kept it to myself. I had a kind of what will be will be attitude and I kept my opinion to myself. Now that the election is over I am finding myself joining in conversations that will make no difference.
When we are no longer able to change a situation, we are challenged to change ourselves – Victor Franki
So what is changing and how do I position myself to make the most of the changing landscape.
The business, economic and political climate in the world is experiencing a rate of change that is faster than some of us can comprehend and yet we have to not just survive, but thrive. But it’s not just going to be business as usual. So I came up with these 5 don’ts which has helped me thus far and I now share them with you.
#1. Don’t be afraid
There is no need to be afraid as the worst-case scenario that you have painted in your head may not happen. Even if it does happen, chances are that you will survive it.
Fear is something that could cloud your judgement and lead to irrational behaviour. Just take a moment to think back over the past 5, 10 and 20 years of your life and all the major changes that occurred in the world.
#2. Don’t get complacent
Sharpen your skills, get better and become more productive.
You may want to ask what skills do you sharpen? But as I do not have a crystal ball to see into the future, I cannot tell you what the next big thing is going to be or what skills you need to develop or enhance.
How about starting from your current skill set? How can you get better at what you are doing? As a business, which of your business processes is lagging behind and slowing you down? Perhaps you are not invoicing your customers on time. Maybe you are not bringing in new products into the market as planned or you are not signing up new customers.
Step back and look at what you have to offer. Is there an area that can be improved upon? If yes, then set about improving.
#3. Don’t lose sight of your vision or goals
You may have had a reason why you started this business or got this job in the first place. Yet it’s so easy in times of uncertainty to take your eyes off your goals. Suddenly in desperation you begin to say yes to every opportunity that comes your way no matter how far away it is from your goals. Have you seen the movie entitled Yes Man, featuring US comedian Jim Carrey?
Keep your eyes on your goals. If you have to change course, let it not be motivated by fear or desperation. If your product or offering is no longer viable for whatever reason(s), be bold enough to make a calculated course correction.
As Eric Ries said in his book Lean Startup, you have to decide whether to stick it out in the same direction (persevere) or to course correct and pivot in a different direction.
#4. Don’t just survive, thrive
Don’t just map out a survival strategy for yourself, go the extra mile, deliver excellence. That’s what your customers will remember. Everyone wants more than they paid for and your customers will return to patronise you because they perceive that they get more value for their money with you. That extra mile, that excellent service, that 10x better product is your route to thriving.
So draw up a plan that will deliver a 10x product and service.
#5. Don’t run out of cash
Many say ‘cash is king’. I am not an authority on financial matters so I cannot give you financial advice.
However, I do know that these days cash can depreciate faster than you earn it. Plus you earn no interest when you put it in the bank. There are many assets that do not depreciate as fast as cash.
Cash does give you many options. It puts you in a position to take advantage of opportunities as they emerge. It helps you pay your bills, pay your wages and remain in business. So don’t run out of cash.
Today’s world is becoming more and more unpredictable and that in itself presents opportunity for you.
Have a blessed week!