Have there been times in your career when you felt you lost focus in your business? Were outside influences affecting your course? Maybe it’s the headwinds of national policies and politics, such as health care reform and rising insurance rates. Maybe it’s industry-focused scrutiny such as product safety, regulations and recalls. Each business faces similar challenges.
As a leader, are you prepared to navigate through turbulent political climates? In this issue of Promotional Consultant Today, we share four action steps from author and speaker Jeff Bush to keep your company flying high and stable when the political winds begin to shift.
1. In your business, you must do the most important things first and keep doing them while dealing with problems that will inevitably arise.
What are your business’s core elements for success? Can your employees list them? Many business owners or leaders would say “customer service” is one of their core elements. But what are the three most important drivers of excellent customer service unique to your business? Ask yourself and your team to excel at those three things. If you don’t know what your essential elements of success are, you better figure them out quickly. The turbulent times start when clients go looking.
2. Not unlike identifying where you are going to execute an off-airport landing, you need to have an honest discussion with yourself about the situation and your capabilities.
In the context of business, you need to be honest with yourself about what you’re struggling with and find a better way of getting the job done. Perhaps in your business, it means outsourcing HR to an employment agency, switching suppliers or firing a problem client. Be honest with yourself about the weaknesses in your operation and commit to addressing them.
3. Are you communicating with everyone who is vital to your business success, from customers to suppliers, vendors and financial advisors?
Do you have a communication plan for each of these critical constituents? Who owns that plan? To whom is the plan owner accountable? Sit down with a blank piece of paper and draw a circle in the middle. Inside the circle, write the name of your business. Take 10 minutes of uninterrupted time to write down all the key connections and relationships you need to maintain your business’s success. Next, write down who in your organization should own that relationship. Meet with those people and be clear as to the importance of that responsibility.
4. Work the problems.
How many times have you seen people work hard without ever really taking on the core issue? You are the pilot of your business. It is up to you to take control and keep your team focused. Many people have vast institutional knowledge within the organization. Trust that experience to solve the problems. If they know what’s core to your business success, they will likely solve the problem with little input needed from you.
The business climate may be turbulent, but if you follow your training, trust your experience and decision-making ability, you’ll guide your team through the most adverse landscapes.
Source: Jeff Bush, Washington’s Wall Street insider, is a dynamic and insightful speaker on tax and fiscal topics, and the author of American Cornerstones: History’s Insights on Today’s Issues. A 28-year veteran of the financial industry, he works with executive teams, business owners and high-income individuals to proactively prepare their organizations to succeed in an ever-evolving marketplace.