“By failing to prepare, you are preparing to fail.” – Benjamin Franklin
Several indicators suggest consumer spending will rise over the next two quarters and we could even see a Roaring Twenties–style boom. If that happens, could your business handle it?
If you wait until the boom is underway to figure out your plan, you could miss out. Planning will position your business to pivot successfully.
Getting Your Ducks in a Row
Understanding everything your business requires to respond to increased demand and developing a response plan based on your analysis will make the unpredictable more manageable.
For every business, there are different variables that determine meeting customer demand. Your business’s response time may be driven by manufacturing equipment needs or process timelines, technical capacity, the number of order fillers or delivery drivers or company vehicles, how many hours the business is in operation, or various other factors.
As you analyze the factors that inform your business’s ability to meet increased demand, look for deeper implications for your business: If we do this, then we will have to do that. Once we do that, then we will have to do this. The more detailed your analysis, the better you can plan to manage an unpredictable situation.
After you’ve identified all the variables, you may find yourself with several options to consider. Evaluate each option in terms of business costs and how well each aligns with your overall goals. Use the best option to inform your plan.
Communicate Your Plan to Employees
Let your employees know what to expect if things get busy and how their roles may change, so they aren’t caught by surprise. Getting them onboard in advance will help ensure the success of your plan.
As a certified professional ActionCOACH business coach, I can help you develop a plan for growth that includes reviewing key areas of your business.
Drop me an email to set up a complimentary coaching session.