Building business resilience

We know that businesses will look different as we move forward (and many already do), and it is important to embrace this and look to the future.

There is no denying it has been a testing and uncertain time for everyone. We have all undergone a reappraisal of how our businesses operate, perhaps where they operate and the real purpose of our business. Safety has been at the top of our agendas – of our colleagues and staff, customers, families, friends and ourselves – and this has come in new waves, whether working remotely or staggered working shifts. Alongside this, there are concerns of managing cash flow and safeguarding business continuity.

However, we should celebrate the small wins, the successes and the feeling of achievement as we make it through another week, another client win or taking the next step in our business plan. It is important to take stock and reflect how much has been achieved, especially in such uncertain times!

  1. Maintain perspective
    Although a situation or crisis may seem overwhelming in the moment, it may not be that drastic in the long-term. Maintain perspective of where you are, what you are trying to achieve and timelines.
    Check out the Live BIG mantra, here.
  2. Flexibility
    Particularly right now, we should keep our business decisions fluid. Things change, and we should change with this. Whether it is a change in supplier, working conditions or a seasonal change, having the confidence to embrace the change and look for better alternatives can be an opportunity!
    Think about how many of your local pubs and restaurants have offered takeaway food during the recent months here.
  3. Learn from your mistakes
    Understand it is ok to make mistakes and learn from them. Each mistake is not wasted if you learn something valuable to your business and it changes the way you do it next time. So learn from this and “try, try and try again!”
    Check out what Entrepreneur magazine says about learning from your business mistakes, here.
  4. Teamwork
    Support and engage with your team. Share the highs and lows and listen to their feedback. These are your biggest advocates and want you to succeed almost as much as you do. Be confident in their ability, embrace your team and work with them – you hired them for a reason!
    Read an interesting blog about trusting your team, here.
  5. Give yourself time
    Do not forget to give yourself time to take a step back and breathe. Take in all the amazing work you have done and how far you have come. There is a lot going on right now, so ensure you have some downtime for yourself – to reflect, re-evaluate and plan your next steps. Sir Richard Branson gave us all some tips in his recently penned open letter, find it here.
  6. Response
    Giving yourself the time and space to think is also important for your response to questions, new directions and any changes in the business. Think about your messaging, timings and how these fit with your business and its future.
    Take note of the calm and measured approach from the Met Police during a suspected attack in Westminster a few years ago, here.

Building resilience for yourself and your business is absolutely key right now in order to give you the tools and advice you need to move forward positively and confidently with your business.

If you are ready to take the next step in your business and would like to apply to the bespoke, entrepreneur programme, Somerset Catalyst, please apply here.

Building business resilience