Top 3 'To Do's to build resilience into your business
Transmit Startups
If you're looking for a loan to get your business started, or in your first two years of trading, we can help!
Welcome to this week's not-so-hard-To-Do list.
Your personal resilience and the resilience of your business are not the same.
If you’re keen to develop your individual coping strategies and power up your personal resilience,?read our free business advice article.
When we look at how?ready?a company is to respond to unpredictable market trends, ever-changing customer behaviours and national or global crises - that’s Organisational Resilience.
If a resilient business is something you're striving for...
Here are our top 3 To Dos for this week:
1. Decide what's essential
Knowing which outcomes are essential can help you plan how you’ll continue to meet customers’ minimum expectations, even when ‘business as usual’ gets disrupted. Your essential outcomes come from your mission critical activities - the ones that really need future-proofing.
For a straightforward example, read this resource from Smarta.
2. Take a financial stress test
When small business owners?apply for a Start Up Loan, our expert Business Advisors carry out a stress test on their finances to make sure they could meet their loan repayments if their business income dropped off.?
There’s a heap of free financial advice available on the Smarta platform, from?how to manage your expenses like a pro, to?the importance of keeping financial records.
And if you’re looking for ways to fund the next stage of your growth plan, please email: [email protected].
3. Talk about future failure
Resilient businesses make plans for?“what if things go wrong?”?- and they do it while everything’s still fine.??
Last week we listened to this episode on BBC Sounds in which advertising expert and agency co-founder Sir John Hegarty said:
Companies make their worst decisions when they’re doing their best.
Start the conversation today about some of the scary “What ifs” of business ownership. And if you're not sure who to have that conversation with, talk to us about helping you?find a business coach or mentor.?
That's it for today. See you next Monday!
Team Transmit
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Full-stack marketer helping with strategy, growth, influencer marketing, events + impactful campaigns - MD @ Colehouse.
2 年If the last few years has taught me anything, it's to pay attention to this kind of stuff and to plan even further ahead as best you can!