• fourpointfive

What do you have and how do you use it?

Do you want to use your resources a bit more selectively, invest in new opportunities or find ways to use the resources you have differently? Each option will involve different costs and consequences for your business. Sitting down and evaluating the best option or options for different scenarios will help you react quickly to a changing market.

When was the last time you did a stocktake of the resources you have available?

This doesn't just go for checking your equipment to make sure everything is in order or finding that old bit of kit in the back of the cupboard (although it is probably a good time to do this too) but also looking at your team and the skills that they have.

When was the last time you caught up with their team and talked about their skills? Is someone on your team doing social media work for their sports club and gained some valuable knowledge that you can use to help market your business? Sitting down in a one-on-one or group environment with your team to talk about their skill set or areas that they want to have a bigger contribution to will give you opportunities that may have never crossed your mind. There is usually some prodding involved in this approach and potentially the need to turn away a few ideas but it will be worth it to find those couple of invaluable ideas.

How can you adapt your current resources to meet your needs?

Utilising the resources that you have available to you in a new way is most likely going to be the more preferable option over investing in new equipment, bringing on new people or engaging new services. Having the ability to step back from your normal role out of the 'business blindness' (where you don't really see things because you have been looking at them for so long) is not an easy skill to develop but will help you look at your current resources in a new light.

One of the recent announcements with post lockdown restrictions is around retail remaining closed at Level 3 with the option for click and collect. If you have a small business the investment for online retail or click and collect may have been a cost exceeding it's forecasted return or just outside of your capabilities. Even if you reacted now and engaged the services of a company to set up an online store for you the resulting site may not be delivered until after the lockdown period. Instead of taking this approach think about what resources you currently have. Do you have a facebook group or an online mailing list that you can use to engage customers? Can they make their orders through emails or messaging and collect in store?

2 views0 comments

Recent Posts

See All

Let's start the conversation

Getting back to full operational capacity starts with people, if you have all your equipment lined up but no-one to make your products or stock on the shelves but no clients coming in, making progress

It's not time to panic but a great time to plan

Hopefully you have managed to work your way through the subsidy's and how you are going to support your team, and your business, through the lockdown. The next thought for me was what can I do to make