Welcome to this weeks Get COACHd on Friday.
This week has been a turbulent week in some quarters. Regardless of political persuasion, we have been dealt situations that business schools will be pouring over for years to come. I am sure that this will be richly debated on social channels – What is leadership?
To be honest, I am sick of this – the whole facade – and am constantly reminded of our need as business owners, to keep the eye on the prize. This week, I have been collecting my thoughts in a short article about the increasing cost to run our businesses. I buy products and services, like you. Be it from a simple coffee with a client (or a thinking time), a networking event, train travel or more involved purchases perhaps involving foreign currencies – whatever, the costs are going up.
As small business owners, perhaps we should now plan for the impacts of high inflation and a potential recession. Not doom and gloom, but reality. The article (on LinkedIn and on my blog) invites us to think about some aspects of our business.
How can we leverage the following to push through any recessional and inflationary effects?
- Use technology to improve efficiency and cut costs
- Outsource some aspects of your business
- Reduce waste
- Use “good” debt to grow the business
- You can survive a recession if you plan in advance.
On July 19th at 12:30, I will be facilitating a ‘thinking’ and ‘sharing’ session where we can chat, and explore different thoughts that you may have about your business model and growth expectations. This FREE session is a no sell zone – so do come along for the hour. I am setting a maximum attendance of 12 including me so do Register here now.
Enjoy this week’s articles….