Have you stopped to sharpen your "business" axe.......

COVID-19 has been a boon to some industries but a curse to most with restricted access to customers & supply channels. This massive disruption is exposing the weak links in many businesses so with more time on our hands than we had even a few weeks ago there is something we all need to do - SHARPEN THE AXE!

What does that mean?

It means now is not the time to binge Netflix or become a VIP at the local alcohol store. It means taking the time to really dissect your business and see what suffered first in this crazy period. Is/was there a heavy dependence on face-to-face customers? Do you have online shopping/purchase options for your customers/clients? Do you have a way to still provide your product or service? Do you even have a website or online presence? How do your customers connect with you through this period of uncertainty? What have you done/doing to stay connected to your customer/client base? Have you looked for ways to adapt?

Life has changed in the last few months and the business world has felt those impacts like never before so now is the perfect time to consider if your business is equipped for the changes that have happened and will continue to happen. Those that come out the other end will be those that were the quickest to adapt and those that were prepared to ask the tough questions "Is my business viable any more if I keep doing what I've always done?" Just because you've done it this way since the 80s, 90s, 2000s or even last year doesn't mean it will be effective or even relevant now. That is the speed of change!

Businesses re-tooling their equipment to produce desperately needed medical supplies - genius! Distilleries making hand sanitiser instead of gin - genius! They don't have to be permanent changes but those examples show us just how quickly some businesses can adapt when put under stress. Is there anything your business can do to adapt?

There will be hundreds of articles on this topic so the key questions to take away with you are:

1. Is there a way our business could adapt/re-purpose to take advantage of the current situation?
2. What are the weak points in our business?
3. When was the last time you spent some time making tweaks/improvements to your business?

There is a good chance you have more time than money at the moment so use this new-found time for the better (sharpen your axe), not the worse (Netflix & alcohol)!