Thoughts on getting back to business

Here in CMG, (Training, Conferences and Awards) we’re preparing to get back to work. As we (hopefully) enter the begining of the end of the corona virus lockdown, we know its going to be a long and slow process. However, we have already noticed the rising level of enquiries returning for training, conferences and in particular, in house training. As a business we have adapted quickly with the build of our new training recording studios and online delivery methods for our clients who want the virtual training experience for now. Equally we have decreased class sizes for those who want to attend in person at our training facilities. To use the old political expression, ‘a lot done, more to do’… these are our first steps in CMG as we embark on the road back to business, business growth and new business development. 

First steps are often more important than we give them credit for. In order to take the first steps, in a business context, we need to know where we are going. In order to know where we are going, we need to understand ‘why’ we are going there. Better opportunities? More scope to build the business? And importantly, how are we planning on getting there? These are, without doubt, incredible times. Its tough in the business and professional world under ‘normal’ circumstances to be successful, but in these almost apocalyptic times, we find we have to dig even deeper than we thought we would ever need to in an effort to compete and regrow / save / re-invent our businesses. So, what do we need to do as we try to move forward?

These are some of my thoughts in the hope you might find one or two of them relevant, or it might get you thinking differently or even give you something to reflect on. 

LEADERSHIP

If you’re a business owner or manager, the onus is on you to show leadership. I know that sounds obvious, but seriously, some owners or managers will need to reflect a little on this. You are expected to show the way forward, you are expected to have a vision and be able to articulate your vision to your team. Being a strong leader means you are ‘on it’ in terms of those vitally important first steps I referenced earlier. Its not a perfect science and you will make mistakes but essentially you must know where your business needs to go and you must have a good idea how to get there. So, focus on yourself first, how is your thought process, are you good with taking charge in these circumstances? Then move on to your leadership role, can you inspire confidence, can you motivate the team to move forward? After research and careful consideration, make your plan and then get on it, quickly, get your team on it and articulate your vision for the future of the business with your team. They need to see it, understand it and believe in it, and then they’ll help you achieve it. 

BUSINESS STRATEGY

Whats the plan? What are we doing here? Why are we doing this? Whats the strategy for building, saving, re-inventing or growing the business? What type of client / customer are we looking to attract? What do they need that we can deliver, better than the others? All of this and more, requires very careful consideration. I personally have always believed in the concept of ‘Ready / Aim / Fire’.. I meet many company owners and managers who, even today, will often fire with no real aim at a specific customer base, or get ready FOR EVER and never seem to fire, and some that literally have not aimed their business model at any market in particular! Your strategy for success is vital and along with your strong leadership, needs to be clear and focussed. My advice is to keep it simple, face the market reality, see change as an oppurtunity and engage the team on how best to deliver it.  

PEOPLE

You notice I refer to 'teams', or 'people', a lot. Thats because they are key to your business success. Without the right people to help you achieve your vision, its dead in the water. You simply won’t do it alone. However, energize them, help them understand what you’re trying to achieve, articulate your vision and I promise you, when you see those who understand the plan, the people who are genuinely making the effort to help it be successful, and are working as hard as you, or harder, you will become even more motivated by their efforts and work a little harder yourself, then they do the same and the circle grows to encompass more people working as hard and then you realize the business is moving that little closer every day to the success you’ve hoped and planned for. 

FINANCIAL

Get on top of your finances and stay on top of your finances. The numbers give you a road map that says your plan is working or its not working, so stay in tune with the financial performance, even if you’re not normally a finance person. In my opinion however, if you don't understand finance, you probably shouldn’t run your own business.

There are too many aspects of business leadership, management, finance, planning and strategy to cover here. The above, in my opinion, are basic but often overlooked and are key to success and they, along with the following few points, should be a good starting point for future thought. 

* Stay in contact with your customers - thats your loyal customer base, let them know it.

* Reduce or get rid of bureaucracy - it can be too cumbersome for todays agile market. That applies to a small company as much as a large one. 

* Speed is of the essence - be quick to react to market changes, and move on from your mistakes quickly.

* Face reality in the markets you operate in - learn to adapt to customer needs or better still, anticipate customer needs based on broader market activity.

* See change as an opportunity - nothing stays the same, and I mean nothing!

* Be the best in your market - doesn’t matter about the others, aim to be the best and consistently show your customers why you’re the best. 

* Keep learning - nobody knows it all and in order to grow and thrive, you need to be learning something new about the business you’re in, frequently.

* Seek out a new and viable business enhancement, product idea or service every three months - done right, innovation is all about change and growth. 

Tony Cantwell is a business owner, writer, mentor, publisher, author and podcaster. Tony is also the founder of the CMG group of companies. The CMG group includes, CMG Training, Irelands market leading training providers, CMG Events, business specialist Conference organizers and CMG Awards, owners of the Irish Healthcare Centre Awards and the Irish Building & Design awards.