April 30, 2020
Business Foundation – Now More Critical Than Ever
The last few weeks has been like having earthquakes and aftershocks shake the foundations of both our businesses and personal lives. At first, there were little tremors. Then the shaking got louder and more intense. Businesses were directed by Executive Order to close if they were not essential business related. Then hope happened in the form of government stimulus only to have that balloon pop and not pan out for enough small businesses. The earthquakes and aftershocks continued. Many employees for the first time in their entire career were being laid off. Some were being furloughed. While still others were kept on payroll with substantial reduction in hours and pay. All of these causing a variety of challenges for both the employees and the employers.
These challenges have put stress on your business and you as a person. Some of you reading this are wondering if you will survive. Others are tapping into cash reserves which you never thought you would need to stabilize your business until the faucet of revenues is turned back on. Still others have different challenges with being concerned about the direct loss of talent to the competition who did get loans and now effectively have a disproportionate advantage on your business while you lay off staff. Business owners who are at or near retirement are wondering if they have the stamina to fight this fight or fold and protect what ever leftover cash can be extracted from the business they built and invested in for years. These are all stories I have personally heard from business owners.
I have also heard better news stories as well. Those businesses which are knuckling down and drawing their team even closer. Working on their business from the inside out. Starting with the very foundation by which they exist. Too often these foundational principles are not well known by the team. They originate in the mind and emotional energy of the owner but don’t always get articulated. They do from time to time get exposure by the owners actions. Unfortunately from time to time, because they are not structured, they get applied differently to different people in similar situations. This causes more confusion than desired.
As we are still in various stages of being on pause, now – this week – is the time for you to capture the foundational elements for your business as we emerge from the silence of the pandemic. What is your one core “Purpose?” What three core values will you never break in making decisions? What principle based framework will your team and your clients know bring stability to all present and future relationships? What role does your company culture/environment play in all future relationships?
Right now people are being given time to think about their roles in family, business, society. They too will emerge from the silence with new and different expectations of themselves, their jobs, their community. As leaders in good times and now in uncertain times it is up to you to place people at the center of your future success strategies. Your business foundation will be able to weather the large earthquakes and all the aftershocks the economy can throw at your business, your underpinnings – your culture, is aligned and strong.
Is your foundation shaken right now from the current pandemic? Your Promise Guide at JKL Associates stands with you in your present place and ready to guide you out of this place into the next best place. Call us at (313) 527-7945 in Michigan or (407) 984-7246 in Florida.
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