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1. First you have to see in what state of mind and physics are you?
Do you have the strength, energy and resources to scale up your business or projects now?
Is it better to wait? If a crisis happen, a loved one dies or get sick so you get a lot of pressure upon you. Or you are in the middle of having small children, what can you do? What brakes can you hit?
2. Make an action plan to really brain storm what you are waiting for and what you already have. Prioritize what is crucial and important. What is impossible to postpone or wait with? What is urgent? Write down everything that comes to you mind and then sort it into different categories of importance. The most obvious is also important to write down so you don’t forget anything. Don’t get paralyzed. The whole idea to write things down is that you will not get stuck in a dead end loop starting all over again with your thoughts. You empty yourself of heavy emotions as well during this exercise of journaling.
3. What resources do you have now to manage this crisis? If you are running your business alone, who is your trusted advisor? Have a network of experienced and likeminded people in your network. Many may be in the same situation or have been. Business isn’t easy and much can happen in life that can turn things upside down. Within your business it is a good idea to listen to those with experience but also to the new ones that may have a lot of new insights that is not formed by your company yet. Write down what you can do by yourself and what you can ask others to help you with. You feel more confident since you have a plan, are taking important steps, taking responsibility and you are not alone.
A second opinion from a trusted friend is so important since stress can really cloud your judgement. Make sure that this friend has the experience and knowledge to give you the advise in this matter. There is no room for personal opinions in matters that is totally unknown to the one that is giving the advise. Many times you know what others you know well would say even without asking them so they will guide you anyway. And how do your previous experience fit in in this situation? To ask for an opinion in a matter is not the same as following that advise. Don’t promise or decide anything only based on an instant feeling, think it through. We have another blog post about Decision making, check that out and also our first published book, link in the menu.
4. Identify what impact different decisions of yours will have in both the short and the long run. Have you missed anything important? Start with the basics with the business and it is important that you as the captain of the ship stay strong and can see things strait. Remember not to panic, you need you to survive tough times in private life and within business since others are depending on you, and you need you. We can help you to fuel yourself with motivation to keep going with our coaching options, link in menu.
5. If you don’t give up things can quite quickly and unexpected turn out really well. Exhausting though. So you need to keep your senses and focus on what is important. Decide upon what you will focus on and act upon that plan as your crisis agenda. It is on your shoulders and you can manage high pressure. We have 1:1 customized IRL coaching to help you to cope with really tough challenges and how to manage it without getting totally drained by it. Links in the menu and contact us for more information.
6. First is of course to make sure that you or your company are floating. You can swim without a life west in the water for a short while figuratively speaking. To realize that it is tough times business wise will help you to make better decisions and make more rational decisions than decisions based on feelings. If you cut the unnecessary costs you can put your focus on what would really help your business to be stronger and also to flourish despite tough times. Sort the costs you have in different categories and determine what is important and less important. Also discuss this with your trusted advisors. Some costs will help you to get more revenues so you need to investigate and analyze what you need. The priority is of course so put down efforts on Revenue Generating Activities, to as a first step survive and then scale up from there balancing your costs with your revenues.
7. What else can you do? Is there something that you have thought about before but not tried, something that might give you revenues that you need? Can you cooperate with others, since if the crisis is a market condition then others are suffering or facing the same or similar problems that you do. Can you collaborate in a joint venture project together to be stronger during this challenge and be stronger together? Joint ventures is a good idea for short term collaborations since you keep your own company and work together in projects. Write agreements what to do and not to, contact us for advise on Joint ventures. Think of every possible different scenario to really empty your mind of your wildest thoughts. This will help you and you will see that you will come up with some really great ideas. Journal and journal and you will see that you will get fantastic ideas. Sort this ideas into a plan and see how they can come together and turn out to be your rescue plan for both you and your business.
Find out more inspiration in our other blog posts and contact us for more, also check out the links in the menu to see what we can help you with our solid experience.