You’re running your own business. It's going well. Growth is happening. Then suddenly you start hearing and reading reports of an economic collapse.
You wonder how it will affect your business. Will you lose money? Will you make less than last year? Will you need to curtail your growth plans? Does this mean the death of the five-year plan?
Yes. Maybe. Perhaps. Your call. Long ago.
What’s In The News?
So you ask around to other business owners, start sifting through mind numbing financial sites and blogs and circle around the cul-de-sac of bad news. Some are downsizing, some are decimating their marketing budgets and major corporations’ foundations are cracking before your very eyes.
Self Doubt Is Not Your Friend
Suddenly you may question your motives, your tactics and your own staff. Perhaps others are right, you do need to lower your prices and fire some people? Possibly the answer lies in making people wear more hats and work harder? Conceivably you will simply need to cut the highest paid on your roster and hope for the best?
Take A Moment
It might be time to examine your external and internal communities. After all, customer service begins at home. If you and your team are not giving each other good service, it’s doubtful you can do your best for your paying customers.
Obviously fiscal responsibility is crucial. There is no shortage of situations where a dysfunctional community negatively affects the bottom line. Many are now being told as a benefit for keeping their gig, they are now doing two.
I remember years ago working with an ad agency that had three founders. One was creative director, one was head of sales and the third was art director. They went out and hired a president to run the day-to-day. They realized what hats fit them best.
Forest: Meet Trees
It’s tough to think clearly when we hear downsizing at Google and Microsoft but that doesn’t mean it has to happen to you. But long before wondering if you're widgets are right or what your competition is doing, it's time to examine accountability – when everyone in the building is accountable to everyone in the building. Now could be your opportunity to sharpen everyone so the wasted time on backstabbing and butt covering can be removed in place of progress. Your competitive advantage could be better teamwork, for real.
Do you wear too many hats?
Are you wearing the right hats?
What about your entire organization?