In this ever-evolving era, it’s no news that the way business is done has changed. The consumer is changing and so are their buying behaviour. Every small and big aspect of making business work is changing. It is even more so in the SME segment where established businesses vie for market share from the new players and the already existing ones.
How do you as an SME business owner then get on the bandwagon with the new players like Flipkart, Amazon, Zomato, Paytm who are on every individual’s phone? These companies are less than 10 years old, started with nominal funding, and are now ruling the Indian consumers’ mind share.
How do you as an established business make your mark? What have you done to change the way you do business? What are you doing to enhance the customer’s experience? Are all your systems, teams, and processes befitting to the advancements in the current time? What is it that you have done daily in this last one year to make a difference for the next few years?
The world is changing faster than before!
Digitization is taking over the traditional ways of doing business. Work from home culture is normal now. Online meetings are normal now.
What have you adapted and moved on to? The key is to avoid the struggle of keeping up with the changes.
Here are 4 things you can do right now to get yourself equipped with the changing dynamics of the business environment:
- Clean up – your mind. List the top 4 things which once implemented will make your daily life easy at work. Leave all the excuses for NOT doing this but I implore you to write them down. Even better share them with me on my mail info@embarkbusinesscoaching.in and I will keep them safe for you. Not prioritizing will not get you anywhere. Don’t be a crib machine. List them now!
- Identify what needs a turnaround within the organization – do you need more clients? Do you need a few roles in the team filled in? do you need software to make things seamless? Do you need agency support to get your marketing moving? Identify and call them out. Give yourself a timeline and do it.
- Delegate one thing every day to your most favorite manager (since I don’t know who would that be for each of you watching this video). Do it. Explain what is required of that person, tell him/her what the outcome should be, tell them what difference will this piece of work will make, and more importantly, highlight ‘what’s in it for them’. Watch the magic unfold post this week then – in either way!
- Turn The Tide – if there is that ONE thing that would turn the tide of your business altogether, what would it be. Ponder upon it and analyze it. Put it on a piece of paper and keep it in your bedside drawer. More importantly, share it with me on WhatsApp if you want : (number) and I’ll keep your secret. As crazy as it sounds, do this! Think you’re in a Bollywood movie and you’ve been asked to do this to become a blockbuster hit.
- Get Your Business Online – Irrespective of the nature of your business, it can come online and build a new potential of its own through this channel. As the world is now driven by technology and digital platforms. Have the right resources either in-house or outsourced to manage it. The learning cost will keep increasing as you keep delaying it so get on it at the earliest.
- Case Studies and Testimonials – Every business needs a good word. Be as shameless to get it from your existing customers and record it, then display it. There is nothing that sells and works better than the real user experience being shared.
- What’s the Plan? – The year if nothing else can be planned. What doesn’t get documented does not get monitored. It applies to all the plans you make too. Put down the 5 key areas of the business you intend to work on for the coming year.
- More importantly, how would you make it actionable? – Making a plan is not the end of it. The need to put things into action is of paramount importance. This is what makes successful people stand out. Clichéd but the only truth that every business owner needs to put into practice.
The things mentioned above are just a demo of how your mind can function in your desired manner. Business is not exclusive to life – It is life! So treat it like one.
Come for a conversation on how to make your business grow substantially by putting your 2021 plan into action.
