In order to recover from tough times it is essential to rethink the way forward. Be it a couple of tough seasons, cyclones, fire or drought, things have changed and you need to change with them. Be tough, get things back on track.
- Your old habits should remain in the past.
- You need to determine the new ‘normal’.
- Ask yourselves whether your competitors or customers have changed as well.
- Remember that doing nothing is usually not a good strategy.
Focus on core strengths
- You need to strengthen it where possible and re-focus on core strategic goals.
- Put your resources where they are most needed.
- Manage your time on areas where it matters the most.
- Focus on online selling and marketing – they also bring in the money!
Look for signs of recovery
- What aspects of your environment should you be watching?
- What is your lead indicator?
- Don’t assume a return to normal.
- Stay focused on your strengths and weaknesses.
- Go hard – don’t wait for permission from the market.
Evaluate the market
- Is it just you having tough times, or is everybody?
- If it’s you – what went wrong, and have you fixed it?
- If it’s everybody, what opportunities might there be?
- Make tough decisions quickly, someone has to recover first!
Don’t let yourself get bogged down with bad news. If you can’t influence or change the outcome, don’t waste your time and energy worrying about it. Do something that you can control!
PS. Tough times don’t last, tough people do.