If you really want to build a resilient business, it will help you to understand what the characteristics of a resilient business are. Many small business owners, especially when they run a business from their home online, mistakenly think that somehow their business is different from a brick-and-mortar business with 500 employees – and sadly skip over this idea because they believe it does not apply. But it does.
A resilient business doesn’t just happen. If you really want to build a business that can take hits and keep on going for the long term, you’ll want to understand that these things still apply to you. You can build multiple six-figure businesses online if you really understand the power you have.
Your resilient business:
Strives for Longevity
You’re in it for the long term and not as a hobby. With consistent, planned action, you can create a fantastic business that you will have for a long time. It may change its characteristics based on the data, but if you own it, and you’re running it, and it’s still producing for you, it’s working great.
Is Adaptable
If you really want to roll with the punches and the successes, you’ll need to set up your business so that it’s adaptable. The only way to do that is to be honest with yourself about who you are and what you want from your life and business.
Has Stoic Leadership
Being able to control emotions is an important element in any business’s leadership. You need to act on data and your plans and not be swayed by your feelings. Emotions are acceptable, but they should not be the only basis for your actions. For example, if you set up benchmarking to notify you when you need to cut costs, just do it, don’t question it during the crises because you made plans when your emotions were not being affected. As long as you did a good job creating the continuity or disaster plan, it will work for you.
Is Purpose Driven
You’re more likely to weather a downturn if you remember what your Purpose is. Write a business purpose statement. This will help you ensure that each stage of your business is acting how it should impact the world the way you desire. If you can keep that Purpose in mind during hard times, it will pay off.
Is Opportunity Seeking
A business owner who is always ready to act on Opportunity will always perform better than someone who is never open to it. If you have no savings to take advantage of a sale or have no backup options for the software you use in your business, you may miss opportunities present during a crisis. For example, many businesses lost out during the pandemic, but some businesses flourished because they jumped on new opportunities instead of giving up.
Seeks Professional Advice and Assistance
No one can do everything at all times on their own. Everyone needs to seek out expertise from time to time. A doctor doesn’t perform all surgeries themselves; they specialize in being really good at what they do. You should do the same. Do what you’re good at doing and let others do what they’re good at doing. Delegate, automate, and outsource everything you can, and you’ll soon realize you can do so much more.
One thing that should become clear as you read this is that resilience will pay off even if nothing bad ever happens. When a business is resilient, it will continue to perform its Purpose without fail.
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