Jarred Consulting

As the weeks carry on into the ‘slightly’ unknown territory for many businesses across the globe people are waking up to the fact that things are different. Yet, we all still have businesses to run to support our clients and our teams. We’ve put this article together as a way of pooling some useful tips on how to best navigate your business through this turbulent time.

1. Be flexible

Businesses who will not only survive, but also produce positive results will be those regularly reviewing everything and willing to change their approach. Creatively discussing all options available, and pooling ideas will help businesses to navigate the changing landscape.  It is important during these times that business leaders keep an eye on the long term - simply putting a stop to everything now to save money may not be the answer.  It is important that leaders continue to invest in their business, and their people during turbulent times, to keep people feeling connected and supported.   Many businesses who have been staunchly office-based will be forced to move to remote working – which has in many studies been found to actually increase productivity and worker wellbeing in the long run. Being open to ideas such as these are perhaps the only way to successfully navigate this crisis. Things will change regularly, and therefore being open to changing your approach will save you a lot of issues.

2. Be open

Being open and honest with employees during this time will create a sense of trust and collegiality.   Offering clarity – based on the facts as they stand – will help you thrive, boost motivation and create a sense of togetherness.   If you’re experiencing issues, discuss them with staff, and be open to ideas and insights.  Work together to find a solution.  This will create a culture based on mutual ownership and common purpose.

3. Trust your people

With more people working remotely, it may be difficult for some managers to feel connected with their people.  Micromanagement in these times, is not the way forward however, it is critical that you trust your people to be getting on with their work in the best way they can.  If you trust them, people are more likely to pull together and work hard to get through the crisis.  They will feel valued, and more willing to go the extra mile to you and the business.

4. Manage the money

It is almost certain that every business, across the globe will be affected financially as we navigate this epidemic.   You may have people unable to work due to illness or having to look after others; clients may be working with less budget, and resources may be difficult to get hold of or cost more. However, as with all such crises, this is temporary. We must all simply weather this storm together. The first thing you can do is simplify your expenditure. Cut unnecessary travel, convert events to virtual / online formats, introduce measures on company card spending and review projects which can be paused / de-prioritised for a while. Small changes can add up.  It’s also important that you pay attention to changes is Government legislation – there may well be benefits in these changes for your business that can save money.

5. Prioritise projects which pay

It’s essential that you focus on bringing in business in order to survive.  Review any high-investment low-yield business and consider whether it is worth continuing.  Make sure that you stay connected with your key clients, and that critical projects are on track. If this means removing people from unnecessary tasks for now, and reallocating resource to priority areas, then go for it.

6. Continue to invest in your team and your leaders

This may appear contrary to the last point but if you hold the belief that in the end we will all come through this tough period it will be those businesses that have worked with their people and continued to develop them that will thrive and not just survive. It’s at times like these that leaders more than ever need their trusted advisors and coaches to help them make decisions and keep their business alive.

7. Innovate

It’s during tough times that society in general comes up with novel ideas for solving problems. The same applies to businesses. Some of the best inventions, and companies, in the last 100 years have been created during times of hardship. Allowing your people to be creative is key to your future success. Now more than ever is the time to look at your products and services and devise ways to solve problems that clients have in ingenious ways.

8. Keep wellbeing front and centre

Remembering to lead with humanity and thoughtfulness towards others will pay dividends in the long term.  We are all in this together, and by ensuring we support each other and embrace our commitment to look out for one another will create a strong sense community.  We, as humans, have amazing capacities to do good.  What you believe shapes how you act, and how others feel towards you. ‘In time of crisis people want to know that you care, more than they care what you know ‘ Will Rogers The coming weeks and months are going to be really tough, but if you believe in your business and your people, there’s every chance you will come out the other side of this stronger and more agile. For more information, you can contact us here.