Business longevity

This reflection has come about from a recent business networking presentation.  Sharon wanted to capture the essence of this message for all to benefit.  This has been modified to suit the global business community.

Business longevity

Who am I?  24yrs owner/operator in small business, including 12yrs in sports/retail, with continued involvement in health/fitness/coaching.  7yrs with continued involvement in management rights/accommodation/tourism and celebrations (weddings, funeral, memorial, naming etc.).  Experienced 2yrs external in construction/mining/safety and HR.  Of course, I am many other things, such as mother of two adult sons and wife, just to name a couple.

Why am I here discussing business? I have observed the struggles of many, and believe that fresh eyes and business coaching is the way to assist.  I am passionate about business longevity.

YOUR business, is it for a reason a season or a lifetime?  When you started your business did you envisage you would remain in business for 2, 5, 10, 15, 20 or more years??  Did you know the longer you stay in a business the more monitoring, adapting and on-going improvements you need to make?

How can YOUR business last the distance?  Create your own checklist.  Here are some suggestions

• Business plan (vision, mission, values, business, marketing, finance, safety, risk) Monitored and Managed
• Ensure your passion aligns with your values – otherwise incongruence will occur, you will feel you no longer match.
• Evolve with the needs of the market – it is a Trend cycle, a changing cycle that flows from trend to reality to success and habit.  If you are in habit, you need fresh eyes and creative ideas to kick start you back into trend.
• Name your objectives: customer focus, great service/product, continued improvement, gap analysis ….Name yours?
• YES, it’s serious, and everyday find a way to smile, because you need a work/life balance, otherwise it will be more challenging to last any distance.

What about risk?  Risk management is about identifying, assessing, controlling or managing, and monitoring to stay within reasonable risk, to be sustainable for your chosen period.

An old saying “if it ant broke don’t fix it”.  This is reactive, and sometimes its too late when it’s broke, or the challenge becomes stronger.

To be proactive takes gap analysis, on-going improvements and change.

CHANGE IS INEVITABLE.  However, how you manage change in your business, makes a difference.  Be aware of the change curve, which moves from habit of status quo and denial to chaos, anger and fear, and when you move to acceptance and exploration you can rebuild and find the new trend, and recommit or change.

There is support available, through many organisations in your country, or view what others are doing and start the trend in your country.  Example:  WMDL Economic Development  etc.

What YOU can do in your local community?  Some examples

• Join local initiatives for local businesses to work together – value adds, shop local initiatives, expos, festivals etc.
• Brainstorm with business groups
• Find and promote local support available

What Sharon can offer?

• Business coaching of a professional standard – confidential and private, with an agreement and preparation sheet before any session.
• Support through motivation, fresh eyes, inspiration, understanding the change curve, gap analysis, SWOT, etc., etc.
• Create support through classes for those in business – e.g. previously presentations by Sharon – Yoga for busy people, Motivation is an inside job, Stress management, Identifying Potentials, Making time work for you, Managing a project, Finding your self-esteem, Motivation to achieve your best, Managing an event and more.
• Bringing small business into the corporate view, and what the benefits there are for YOU.
• Assess what YOU are willing to do.
• Get YOUR commitment to follow through with at least one SMART objective (Specific, Measureable, Achievable, Realistic and Time Framed)

Thank you for taking the time to read this modified presentation.  If Sharon can assist you, just ask.