We are already more than halfway into the year. So how’s your Profit Plan looking? Chances are, it’s time for an update. Especially this year! We know most small businesses don’t have an annual Profit Plan. Hopefully all the struggles we’ve all experienced with COVID-19 will change people’s minds on planning.
How come nobody understands me? Didn’t I already tell you that? How many times do I have to tell you not to do it that way? We hear these questions and many more from business owners who are frustrated that they are having trouble communicating with folks.
With so many things changing over these past 3 months, it’s good to know that some things stay the same no matter what. When it comes to business, one thing that endures is MVP’s 7 Keys to Success. These guiding principles for how to run your business successfully continue to be tested in all sorts of areas including a global pandemic.
One of the biggest challenges of this entire COVID-19 pandemic has been the need to adopt and adapt to new technology as a business owner. But this indigestion we are all experiencing with technology may actually be a great benefit to business going forward.
How do you think differently and more creatively about how you compensate your people? There’s never been a better time to try something new than the current situation with COVID-19.
What’s the world going to look like in 2030? More importantly, what’s your business going to look like in 2030? Does that seem like a crazy question with all the uncertainty in the world today?
There’s never been a better time to fail! Think about it. Nobody has the answers right now so why not try something new or different? Is there something you’ve been thinking about trying for a while and yet you’ve made all sorts of excuses for why you can’t do it?
Usually three-letter words are OK, it’s the four-letter words you need to avoid! Yet it’s hard to find too many people having FUN in their businesses today with all the changes that are being introduced and forced upon us due to COVID-19. The real question is, were you having fun in your business before all this coronavirus stuff hit? Unfortunately we find too many business owners who aren’t having fun in their business any more. But it doesn’t have to be that way!
We’ve been big advocates for small business owners utilizing their Know Like Trust (“KLT”) lists more purposefully to help their businesses. It can help with anything from growing the business to finding good people to having folks to bounce ideas off. So why are the business owners who have been using KLT for things like forming good relationships with their bankers getting lambasted by the media saying it’s not “fair” that certain people got funding and others don’t? Maybe the ones getting the funding are the ones who are in better shape and are on top of things like this due to how they normally run their business with a focus on KLT.