5 Keys to a Resilient Business

Resilience:  the ability to bounce back when things get tough.  If we all had that in spades, wouldn’t that make being in business a whole lot easier?  As we all know, businesses of all kinds can experience peaks and troughs bigger than any roller-coaster.  There are many ways to navigate these to help your business go from strength to strength and I’m going to share with you here 5 of my favourites.

Be Purpose-ful

When you are clear about your purpose, your mission and your values, it is much easier to make decisions which are in line with them and to say ‘no’ to anything which doesn’t serve your purpose.  This means that you have more energy and resources to manage the business from a strategic level, not just the day to day firefighting.  Though it is important to be able to deal with problems as they arise, you could be building up bigger problems if you aren’t taking care of the big picture.

Learn and Grow from Mistakes

Anyone who never made a mistake never did anything important.  So, if you want to make big strides in your business and bounce back from setbacks, embrace those mistakes as a huge opportunity for your business to evolve.  It can help turn your business into a competition-beating phenomenon.  If a customer, or an employee, or some other stakeholder, gives you feedback which hurts, it is a sign that there is at least a little truth in it.  So treat it with respect, act on it with good grace and, not only will your business grow, but it is likely to become more resilient as a result.

Solution Focused Thinking

Problems are a fact of life.  The more complex your business, the stiffer the competition and the more challenging the economy, the more problems you can expect to encounter.  But they don’t need to be road blocks.  Good problem solving skills involve a number of elements:

1. Assess the options
2. Look at the impact on individual stakeholders
3. Make sure that any solution is in line with your purpose and your values
4. Develop contingencies to protect you if things don’t go according to plan
5. Decide which option is going to be the best fit for your continued success

This approach saves you being stuck in the quicksand of indecision.

Great Support

It is a rare business indeed, no matter what size, which can get by without great support.  This means skilled and motivated employees, great suppliers, exceptional professional support (accountant, solicitor, VA, etc) and a good coach who will support and challenge you as well as take you to the next level.  The further up the ladder you go, the lonelier it is so the right kind of support can really help you navigate the murky waters of business, stronger, wiser and more profitable for the experience.

Self-Care

In my 20 years experience of working with clients, this is probably the most neglected area.  It seems we make time to fill our car with the right fuel, top it up with water and oil and take it for a regular service.  But we do not afford the same respect to ourselves.  You are your very best resource so it is prudent to take at least as much care of yourself as you would a performance car.  Because when you are at your best, your business can be too.  You are at less risk of burnout or breakdown, your thinking is clearer, your decisions more sound, your energy sustainable and, let’s face it, everything is easier when you’re firing on all cylinders, isn’t it?

And the great news is that these very same principles can help you in all areas of your life so you can become resilient in your personal life too.

Tricia Woolfrey is an Integrative Business and Personal Coach and developer of the AHEAD for Success 5D Coaching Program.  She has authored six books, including An A-Z of Business and Ultimate Energy: FromTired to Inspired.  Her website is www.a-headforsuccess.co.uk. www.triciawoolfrey.com