Imagine this: your business is a cantankerous 3 year-old. It throws a fit every single time it doesn’t get its own way. It eats up all your time. Would you say you’re managing the business? Or is it managing you?
Let me ask you: how does your business handle adversity? Is it a well-behaved entity or does it act like a bratty 3 year-old?
In today’s business environment, there are some things we can count on.
You can count that the environment will change.
You will see disruptions to your business occur.
And, there will always be uncertainty.
You can count on them happening. How do you safeguard your business?
The world today is quite different than it was just 10 years ago. You’re running your business amid constant change and turmoil. Doing so requires you to handle whatever comes your way. You must react appropriately to stay afloat.
How you react determines the level of success you achieve. Your ability to handle adversity decides your ability to evolve, to thrive. I ask you: are you sure you’re managing the business as you should?
What Does Managing Well Look Like?
Before going on, below is a listing characteristics of both:
Managing the Business
- You manage using strategies you determine.
- You spend your time focused on the business.
- The environment you foster is proactive. That is, you act, not react.
- You’re focused on solving the problems/issues as they arise.
- You try to expect contingencies and plan the reactive action you’ll take.
The Business Managing You
- Your management style is to look at the short-term only.
- You’re totally focused inside the business.
- The tendency is to react when things happen, rather than looking ahead.
- You focus on adjusting to problems or issues. Not on solving them.
- You fly by the seat of your pants, never taking time to plan.
Letting the business manage you instead of the other way around is a real challenge to your sustained growth.
You can expect a lack of consistency. You’ll be indecisive. Client attrition is sure to plague you.
What Will Help?
If you find that the business is managing you, what are some things you can do to get you out of the rabbit hole?
Well, for starters, you can:
1 – Develop a thorough strategy
It’s important you don’t lose the strategy when you plan.
Having a strategy that’s sound provides you the “how to achieve success.” It also provides you with a clear direction and focus for the business and all the people in it.
You, and only you, can determine where the business is heading. Make sure that you have a vision before trying to act. Otherwise, you will find you’re not managing the business. It is managing you.
2 – Establish a strategy rhythm
Get in the habit of developing, implementing and measuring strategy on a regular basis.
As you know, unexpected things happen that need immediate attention. These things not only distract from day-to-day operations, but also slow your progress.
Make sure you set a rhythm for creating, implementing and measuring strategy.
Develop a habit to lessen the impact of adverse events quarterly. It will help you maintain focus and control.
Make sure you incorporate these activities into your strategic planning:
- Decide on what the strategy is.
- Plan how you will put it into action.
- Measure the initial results and make needed course corrections
- Review and choose strategies and how to how to execute them each quarter.
3 – Ensure the right people are in the right place
If you have a team, make sure to assign the right person to the right task. Without the right people, fixes or changes will unravel because the wrong people are handling them.
You can prepare the business better. Instead of being on the wrong end of disruptions or uncertainty, it will stay your course. You will be sure you’re managing the business.
In today’s world, events come at you from every quarter. You may have to react to some event at some time. It’s unavoidable.
You can take control of your success. You can make sure you’re managing the business starting today.