A recipe for business success in a post-pandemic world
by Jacqui Bell | December 21, 2021
The past two years have turned the business world on its head.
Coming completely out of the blue, the pandemic forced companies from every industry to reassess their priorities and think carefully about what makes them tick.
I’m delighted to report that Clumber Consultancy was able to successfully ride the storm and come out fighting – and now I’m keen to share the reasons why we remained resilient during the most difficult of periods.
1. Meticulous planning is a must for anyone who wants to establish and grow a successful business. But on top of the usual forecasts you would expect to make I would add: expect the unexpected. No business owner foresaw the pandemic but the principle here is crucial.
You simply never know what’s going to happen.
Preparing for your market to cease in advance of it happening opens your eyes to other avenues of revenue to explore, so it’s vital that you do so. Put plans in place to deal with an unnamed worst-case scenario. It’s likely that you may never need to action them, but if the experience of Covid-19 has taught the world anything, it’s that things can change for the worse overnight.
It’s important to be prepared for any eventuality.
2. Ensuring you have enough buffer cash to fall back on is one of the best ways to prepare for a catastrophe. It will also help you address challenges such as a sudden shortfall of staff or a sudden increase in business rates. In the end, it’s all about financial security.
That rainy day will inevitably happen at some point, so it makes sense to save for it.
3. Then there’s the question of vision.
At Clumber Consultancy we’ve always been very clear about who we are and where we want to go. Having a clear, vivid idea of where you want your company to be in three years’ time is a crucial ingredient in any recipe for business success. Why? Your vision will drive sensible business decisions along your journey.
It’s much better to have a coherent plan in place than to make rash decisions on the hoof.
4. This isn’t to say you should never take risks. On the contrary – gut decisions often prove to be correct. It’s always tempting to let your heart pull you in the opposite direction, but think of it this way: setting up your business was the first risk you took. There will be plenty more risky decisions to follow. My advice is to take measured risks and assess the consequences where you can.
5. Staffing decisions and the manner in which we treat our employees have also been integral to Clumber’s success. It might seem like a good idea at the time, but it’s best not to rush recruitment. Invariably we find ourselves in positions where we need to recruit staff quickly, but in my experience, recruiting fast rarely works.
Take time to make considered choices and you’re more likely to reap the benefits in the long-term.
Employees are your major assets – the heart and soul of a business – so it makes sense to invest a lot of time and money in them. Your team should represent everything that is good about what your business offers.
6. In my opinion, the best way to achieve this is by nurturing and training your people properly. Aim to build a supportive environment around your staff. Then you can sit back and watch them thrive.
7. Ultimately, surrounding yourself with great people is one of the best ways to set your business on the path to success.
Make sure everyone from your management team to your employees and third party suppliers are the best at what they do. They must buy into your vision and be prepared to tell you things you might not want to hear. Your business is your livelihood after all – and I would trust everyone connected with our business with my life.