10/30/2022 0 Comments Thrive meaning in business![]() ![]() Don’t pull the rug out from underneath them at the very last minute. If you have to lay your team off, or if you are not able to meet your deliverables for a client, you need to have those conversations with people. Be honest about decisions and embrace difficult conversations. Leaders communicate clearly and upfront – no matter how hard it may be. The business owners I know who are having the most successful year, are those who were resilient enough to embrace change, adapt to change and find new ways of doing things. With 2021 just around the corner, business is going to bounce back, and you can bounce higher and faster if you start planning now.Īsk yourself: what will your model look like? What are the things that you want to do differently as you move forward? Start thinking about what the next phase of your business is going to look like and prepare for the rebound. Thrive meaning in business how to#If you don’t know how to use online technology, now is the time to hire a team to help you, or to lean into learning. Get over your tech-phobia.Įmbrace technology and use it to power your business – it’s a valuable tool that can help you adapt and thrive in any situation as long as it’s a tool and not a distraction. There are opportunities for you to grow your business through personalization and one-on-one conversations.ĭon’t judge someone else’s bank account that you cannot see – ever. Stay connected with your buyers, reach out to them, ask them how they’re doing and how you can help. Get creative with what you are selling by offering something useful that will help your customers survive. Don’t make assumptions and do them this disservice. A client of mine did this very successfully, even though she was afraid reduced hours would mean reduced sales – it did not! Get creative with your sales.ĭuring times of uncertainty (such as 2020 in its entirety), it’s easy to fall into the trap of thinking that your customers don’t want to do business with you. ![]() In doing this, you can reduce your payroll and consolidate the sales you make in a shorter period of time. I’m not suggesting that you cut everything – just what is unnecessary to extend your burn-rate.įor example, I recently went through my bank statements and noticed I was still paying for Audible despite not using the service in eight months.Īcknowledge where you can stop spending money unnecessarily.Īs a brick and mortar business, you may also want to reduce your hours of operation. When times get tough, cut unnecessary costs. What do you wish you had right now so that you’re in a better situation? Cut unnecessary costs. If you have felt the pinch in 2020, it’s a good idea to start planning for next year. ![]() You have to analyze these numbers to understand where you’re at in order to make proactive choices and decisions about how to move forward. Think about where you can get a temporary cash flow injection into your business- whether it be a line of credit attached to your house, a line of credit for your business, or a credit card.
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