Brilliant and Simple Insights on How to Combat Effects of Covid19 for Your Business
Having measurable actionable plans for your business is a brilliant step, but what you need to ace even better than that is how you’re going to implement them.
The success of your business will depend on how well you handle the implementation phase of your business journey.
Amar Bhide the author of “The Origin and Evolution of New Businesses states:
“A typical business strategy resembles a map of Everest. Getting to the top of Everest is challenging not because of the scarcity of reliable maps but because of the difficulty of the climb. Reaching the summit requires in addition to a reliable map, exceptional determination, endurance and an ability to make judgments under difficult conditions”
It’s during the implementation stage of your business that you’ll find out what you’re truly made of.
The analogy of business and mount Everest is brilliant because it depicts - yes you need a plan, but business success will always be about how well you execute your strategy.
What defines a successful entrepreneur?
Is it?
The quality of your research?
The thoroughness of your business plan?
The big dreams and goals?
The success of raising money?
How much capital the business has at its disposal?
Well if you can check all the above then good for you!
But the above is not what will make you a great entrepreneur.
What will?
It’s simply how you roll up your sleeves, get your hands dirty, and execute all those plans and measurable actions that you created. Working while others are playing. Doing what needs to be done, when its needs to be done. Personally attending to every minute detail that affects the business.
Here are 4 brilliant insights to combat Covid-19
Insight 1- The Quality of Your Implementation
Your uniqueness and how you translate it through to your business is something that nobody can copy, it’s what separates you from the rest. The way in which you implement your business is what sets you apart.
No matter how people try, they can never be you.
This took me a long time to understand and make the differentiation between looking at someone’s strategy for success and how they do things
That's why now I advise people that come to me to be themselves, let your DNA run through your business - no one can copy that.
It's your individuality that sets you apart. It doesn't matter how many are in your industry, do you!
Yes, learn strategies, but the way you implement those strategies is what will set you apart.
Insight 2- It’s All in the Details
You have to remember that your brand is more than just an idea, so when executing your actions and plans, it’s all about every single step that you take, there’s no minor detail. Everything you will say and do matters.
Your brand is a million and one details so be intentional on how you execute every step that you take.
Richard Branson described it as “Always keep ABCD- Always Be Connecting Dots.
So with each image you select, with each statement you put out, every little thing that you do, ask yourself what message you are giving out about your brand. Be diligent and committed to the last detail.
Insight 3 Embrace Bootstrapping
Learning how to work with limited resources is a discipline that you have to impose on yourself. It teaches you how to be resourceful and focused on your customer’s needs. It helps you become laser-focused.
This is not to say that getting investors is not a good thing, however, it can easily take away your focus from the real issue, that’s your customer’s needs.
You may find yourself starting to rent a big office, big advertising, huge marketing budgets, hire staff you don't need without being in the trenches, and learning about the actual business.
Money is a beautiful thing, but it’s not a substitute for creativity.
So don’t avoid bootstrapping, it’s God’s way of teaching you important lessons you’ll need in the future.
Insight 4- Eat the Elephant One Bite at a Time
Remember the analogy about the Everest? If you know anything about mountain climbers, then you’ll know that it takes them up to 3 months to scale up. So it takes a lot of detailed planning and organization, your approach to your business should be no different,
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