Deja vu Trois

May 14, 2020

Feeling challenged by this health and economic meltdown and what it’s doing to your business?

You’ve already learned how to handle a crisis.  Remember 2008?

For the past two weeks we’ve been sharing lessons you’ve already absorbed…from the 2008 economic snafu…that you can apply right now to thrive rather than struggle.

You have got a tested role model at your fingertips.  Never forget the wisdom you’ve acquired already and can reapply.

Over the past two weeks we’ve shared four of eight insights from 2008 experience you can “reuse” right now. Today, the next two are up for discussion.

 

  1. Always have a Plan B in your drawer. We’d like to think times will always be rosy.  If only.  In the past 20 years, small business owners have suffered through three crises beyond their control: 9-11, the 2008 Great Recession and now Covid-19.  Have Plan A on your desk and in action for the rosy days.  Have Plan B in your bottom drawer for times like now.  Now, you’re prepared for everything.

 

  1. Lean into your Team. Every other TV commercial, email message and text remind us “we’re in this together.”  We are.  Apply this truth to your business.  You don’t have to navigate everything by yourself though you’re the business owner.  What special insights might key team members bring to the decision-making process?  Perhaps they are closer to your customers and can provide input on how to change service delivery to continue to be of service.  If you don’t have a coach or mentor, now presents the time to get one.  They bring fresh eyes, supporting wisdom and enlightened guidance during the tough times…and the good.

Thank you 2008.  While we didn’t like it at the time, 2008 has handed us lessons for right now to better navigate our small businesses through rough times.

Remember:  you’ve already learned how to handle a crisis.

Go forth and do great things,

Martha Hanlon and Chris Williams