Business cycles can be crazy-making for you and your team. The good news is you can confidently find your way through all of them with a clear perspective and a unified team. You can lead through crazy business cycles!
Yes, I hear you! It is challenging. But none of us get to control the external environment that challenges our ability to consistently achieve company results as we planned.
Inevitably, there are times when every business hits a ceiling, where all of a leader’s expertise and everything that has worked in the past to get results—isn’t working! That might be your experience now. You’re not alone. There are crazy business cycles!
IS EVERYTHING FEELING HARDER? FEEL LIKE IT’S NOT WORKING ANYMORE?
A trendy business acronym is VUCA: This is when stressors have increased so much that they cause a level of volatility, uncertainty, complexity, and ambiguity.
Which ones of these ring true for you?
- Have VUCA feelings hindered your confidence and ability to make the right decisions?
- Have such habits or VUCA actions caused you to lose alignment within your company environment and the ability to get your team productive and on the same page?
Unfortunately, self-confidence plummets when stressors cause negative human reactions, and the clarity for how to progress your business (for you as the owner/leader) becomes unclear at such times.
Stressors that cause human reactivity distract and discourage leaders (you), and simultaneously do the same to the team. I encourage you to learn how to make shifts that lead to your professional growth and business success in the up-and-down business cycles. You can diminish impacts that undermine your confidence, effectiveness, and growth and satisfaction.
SHIFT YOUR THINKING
The great news is that entrepreneurial owners and executive leaders can learn to control their “internal” business environment. Stability and long term success is the goal and outcome.
You are no exception. You can learn to successfully work within the crazy-making business cycles.This hinges on showing up in confident self-leadership (not self-protection). Make a habit of adopting an intentional and positive response to disrupting external influences. Learning how to utilize downturns differently will benefit you and the business—and help you show up “your best” each day .
Take advantage of this time with a different approach: (Leading Edge Teams teaches Self-Leadership, TEAMwork and ACE Agreements, Decision-Making Strategies)
Remember, your business has hit a peak and is now on a slide cycle that won’t last forever.
To navigate the storm requires a giant shift in your perspective for best actions:
Take the time to slow down now so that you can speed up… in the future:
- Allocate and solidify current resources and assets.
- Identify and specifically define company goals.
- Strengthen infrastructure—problem solve, make changes; invest in your people/your team (and/or hire new) ahead of time to prepare for future growth.
- Clarify roles and promote team unity; perform together; refine structure, system and processes that support achieving expected outcomes.
- Develop innovative marketing strategies that resonate with projected trends.
Interestingly, growth is the name of the game, personally and professionally—and clearly, it’s the primary goal for your company.
Obviously, as you increase leadership skills, your company growth is the expected outcome. Simply put, clearly develop and define company goals, communicate them to your team (welcome their feedback) as they are effectively put into action. And remember—hire sufficient people for functions and tasks—also hire and invest in the right people with the right skills to effectively put goals into action. What you learn and implement now will best prepare you for the future when the market has an upswing.
Your confidence builds as you navigate through the crazy business cycles utilizing a downturn with a different mindset and sound strategies. The benefits feel different than when you’re enjoying an economic upswing, but they prove to be just as valuable to achieve a business that withstands the long haul.
In summary, external challenges require critical thinking and strong leadership decisions, and a dedicated business approach. Apply our teaching tools, and your business will be best positioned for the short term opportunities and long term growth.
As you strive to lead your team successfully onward, we are here to guide you. My team and I are here for your questions or comments. Don’t hesitate to contact us.