One of my coaching clients shared with me recently they were somewhat overwhelmed with the possibility of expansion due to the amount of competition there is in their particular business niche. I shared with them it actually offers a greater opportunity to grow and expand while making their business more profitable.
Managing Fear & Growth Opportunities
I pointed out that in the ever-changing business environment, sometimes the best thing a business can do is to create a reemergence while showing the company has always been there while responding to the needs of its customers. Customers need to know that you provide value during times of abundance and in times of lack regardless of the economic climate. As we continue to see both the public and the private sectors undergoing change and attempting to manage uncertainty, the tendency is for panic to become the order of the day.
Three Capacities for Success
I believe that grasping what I have termed the 3 C’s will allow us to weather any environmental concern. The 3 C’s are (a) consistency, (b) continuity and (c) confidence. Business owners must understand that momentary challenges should not change the mission, vision, and overarching goals of their organization. Consistency is what adds value and gains the loyalty of repeat customers; furthermore, continuity dictates long-term market penetration and heightened awareness of your brand. Lastly, confidence in concert with resilience is the hidden equalizer that will allow long-term success through down economic times and uncertain financial markets.
Continue to Evolve for Sustainability
How often have we seen organizations succumb to unnecessary panic or reach for the latest fad as a reaction to negative corporate news? In each instance the environment caused a negative impact because the business owner was not confident and had become reactionary. At the end of the day, sound planning built on consistent performance will combat uncertainty regardless of the environmental stressors. As I shared with that specific client, the only way to be ready for whatever comes their way is to keep evolving.
Point of Clarity Quote:
Whatever makes you uncomfortable is your biggest opportunity for growth.