When you run a small business there are usually more ups than downs. It’s extremely rewarding when you reach milestones and achieve your goals. But it can be tough being a small business owner, and at times you have to deal with real challenges that have the potential to severely disrupt operations.
It’s not all doom and gloom though, there are things you can do to help your business. Do you want to know how to make your business more able to deal with whatever is thrown at it?
The key is resilience.
By being resilient, you can help your business cope better with any disruptions and bounce back faster. Building resilience takes time but there are some positive steps you can start to take today.
Here are 5 ways to make your small business more resilient
- Plan, plan, plan
We might sound like a broken record but seriously, a Business Plan is crucial as it simply gives you direction of where you are now, where you want to be and how you are going to get there.
Your Business Plan not only helps you define your overall objectives but sets the pace for your Marketing, Sales, Operational, Financial and Customer Strategies. A strong plan will ensure that your business has firm foundations and can adapt to withstand most situations – good or bad.
Now for the plans that no small business owner hopes they ever have to use – The Business Continuity and Disaster Recovery Plans. The first keeps your business going during the crisis and the second details how you will recover when it’s ended.
If you don’t already have these for your business, now is the time to put both plans in place. You can uncover potential risks to your business, identify practical solutions and the steps you need to take to manage those risks, both during and after the disaster.
Our small business planning expert Maria Pombo can help you prepare for challenging times or provide advice if you’re in a crisis right now. Book appointment with Maria.
- Develop a strong network
No man (or woman) is an island. We all need a support network. Whether this is an online networking group where you meet other business owners to exchange ideas or an expert you can call on when you need business support.
The Better Business @Hand team can be your readymade network of experts. We can help with questions on business planning, finance and much more. We are great advocates on building business relationships that work for your business.
Get advice when it matters most to your small business. You can book appointments from 15 minutes to an hour to suit your needs and budget, you’re in control.
- Be flexible
Being flexible and having a flexible attitude makes you adaptable. When the unexpected happens and issues arise you need to be able to change your plans to suit the current situation. By responding quickly, you can sometimes turn a bad situation around.
Small businesses can adapt to change much more quickly than bigger companies, enabling them to get ahead in challenging times.
Over recent months we’ve seen many small businesses pivot successfully to change their product and service offering, including moving operations online. This digital transformation means that small businesses will be more resilient in the future.
You need to be flexible to take advantage of opportunities that come your way, perhaps you identify a gap in the market and can adapt your products or services.
If you need advice on how to transform your small business, Ivelina Delcheva, a Turnaround and Operations Improvement specialist can help. Book appointment with Ivelina.
- See challenges as opportunities
Better Business @Hand Founder Maria Pombo is a firm believer in adopting a positive mindset and sees business challenges as opportunities.
Challenges take us out of our comfort zone and often lead us into the unknown. This can be scary but sometimes good comes out of it, a challenge can unlock possibilities for your business.
Perhaps you uncover a new market or gain insights that help you to improve a product or a service.
If you have a challenge, we can help. With experience running their own small businesses, our consultants understand the kind of issues you face.
- Ask for help
Running a small business can be lonely, especially if you’re the sole business owner. There are times when you don’t know where to get answers to your questions.
We often don’t like to ask for help. Sometimes it’s seen as a sign of weakness – in fact, the opposite is true. Reaching out for help when you need it can increase your chances of success and make your business more resilient.
At Better Business @Hand, our mantra is, if things go wrong, don’t panic, there’s always a way forward. So, don’t struggle, ask a fellow business owner or seek professional advice.
The key is not to wait too long before seeking advice. Timing is everything when it comes to business problem solving. By asking for help sooner rather than later you can often lessen the impact of a business problem.
As well as looking after the health of your business, it’s essential that you look after your wellbeing. At Better Business @Hand, we’re huge advocates of taking care of yourself as a business owner and those around you.
The pandemic is having a massive impact on our mental health. If you’re struggling with your mental health, ask for help.
The mental health charity Mind has lots of information and resources on their website https://www.mind.org.uk/.
You can take action right now to make your business more resilient.
- Planning will make your business more robust.
- Being flexible will help you adapt your business when change happens.
- Building a network of peers and advisors will make you stronger.
- Adopting a positive mindset and seeing challenges as opportunities can help you unlock possibilities for your business.
- Asking for help is a sign of strength and will benefit the health of your business and your mental wellbeing.
The Better Business @Hand team are here to help whatever comes your way. Helping small business owners cope with challenges and solve business problems is our thing. So don’t delay, book an appointment with one of our consultants to get the business advice you need when it matters most to your business.