Depending on where you get your information from, there is lots of conversation about entering or being in a recession. Inflation is part of the mix with many other variables so I’m not here to provide those insights. What we as business leaders must do is to stay focused on the strategic and positive mindset of building our businesses even in times of challenge.
During these changes in work activity the business must hold true to the foundational framework put in place prior to arriving at this point in time. We have spoken of having a Purpose and Core Values for your organization to use in both times of good growth as well as in times where struggles exist. Without this framework you might be tempted to stray from the success path and wander off into the weeds of destruction.
It was not but a few years ago with the onset of the pandemic that many businesses who were in a false state of stability ended up not surviving because the pivot COVID caused was too great for their organization to withstand. Why does this happen? Why do business leaders take their eye off of the foundation of their business and allow for mediocracy to set in?
There are many answers to this fairly basic question, but they all start with the adjustment to the standards the business has put in place to conduct its best practices. It starts very slowly and almost without notice. An issue is identified and the resolution at that moment in time is not the same as it was under better circumstances. Rather than staying true to the past and your Purpose and Core Values, the organization take a less than desirable path justifying it as temporary and once things get back to normal, they will go back to prior practices. About now you are wondering what normal even means and when in your past have things returned to that infamous place called normal. What happens is the best practice is changed – lowered to a less intense standard and you move forward. Never to be revisited when things get back to normal.
Although this may have a tone of doom and gloom, there is actually an upside to this happening in the marketplace. While others are lowing their standards and practices in their business, it can elevate your organization to a better place. Consider the talent challenges most businesses are experiencing. Prior recruiting and hiring efforts took place and many had fairly well-defined candidate intake practices. At least they attempted to follow a process to evaluate potential new hires. As the talent pool has tightened, businesses are looking for hands to do the work. They have begun to adapt their practices so they can get people hired. As a result, the alignment of talent to business culture, job demands etc. might be set aside and justified as to be corrected in the future.
It is completely understandable to make adjustments for improvements but when you place your organization’s capabilities and capacities at risk then you place your business relationships at risk as well. This is where the opportunity is created in the marketplace for those using this time to refine their talent needs and building deeply intentful relationships with their clients. This creates real lifelong opportunities for those businesses not deviating from the best practice standard which originally built their businesses.
Looking for those unique elements of your business to leverage for growth in the coming years? Look to your Promise Guide to assist you in looking deeper at your company sustainable strengths so you can scale your business upward even in times of challenge. Give JKL Associates a call at FL (407) 984-7246 or MI (313) 527-7945