Top Ways to Make Your Business Thrive in Tough Economic Times

There is an age old saying, “When the going gets tough, the tough get going.” This is a great quote, however when times are tough, it is much easier said than done. Thousands of small businesses have been battling more than ever over the past 18-24 months, and some have unfortunately folded. Being able to keep pushing is necessary for the growth of your business, so what can you do to thrive in times where others are going broke? Let’s look at a few ways to make your business thrive during tough economic times.

Marketing is everything

If your business is adversely affected by something like coronavirus, you need to figure out a way to operate. If you can get around this, then that is the first hurdle. The next and most important step is letting everyone know! People assume that businesses are simply shut and are not operating, however if you bolster your marketing activity to showcase your new business model, you have people looking at you! Now you may be thinking, marketing is another cost. Yes, it is, but use your money wisely. Use social media to your advantage, get your customers to jump on board…whatever you can do, get the word out. Business Coaching in Brisbane will teach you exactly how to showcase your business, even during the toughest times!

Payroll Structure

For the employee, tough economic times can be extremely scary. The business you work for may have to force their hand and either reduce your hours or terminate your contract. As a business owner, having flexibility in your staff is a great way to keep your team in work, and keep everyone happy. Government incentives like JobKeeper were a massive help to businesses who simply could not provide staff with the income they needed. Another great way to keep your team involved and high in morale is to communicate everything to your team. If you have a team that knows what is happening, it makes for no surprises. Business Coaching in Brisbane will teach you the importance of structuring your team effectively to navigate through tough times.

Cutting Costs…not Quality

If you need to find a new way to thrive, chances are your everyday business activity has changed also. This will then see ways to trim out costs that are no longer as important or necessary. Now, this does not mean reducing your quality of product or service. This is simply a way to ensure your business stays afloat. Business Coaching in Brisbane gives a definitive way to cut costs that will not be detrimental to your business.

Focus on your Customer!

Business Coaching in Brisbane emphasises the importance of the customer. The fact is the customer will likely be feeling the effects of the economic strain as well. It is important to note this and place a strong push on customer service. This may be discounts, freebies, giveaways etc. Word of mouth is everything, and a satisfied customer will always come back.

Are you too busy to manage your business?

Many one man businesses and people in small businesses find that they are just too busy to properly manage their business because of the heavy workload they have and the shortage of time available each day. Having a business coach in Brisbane helps you to learn all the important organizational and business management skills that allow you to arrange your time and work in a more cost effective and efficient way.

Business coaches from Brisbane help you learn the most effective ways to arrange and manage your business. Learning the art of creating an effective and workable business plan is essential for all types of businesses, it will not only improve your overall efficiency and productivity, but help make your business much more enjoyable and reduce the stress levels often associated with running a business.

No one’s perfect

The majority of small business owners are masters of their individual craft or enterprise, but usually this does not necessarily mean they are good business people. Being a good business manager requires a different set of skills, many of which most people only learn after many years of being in business through trial and era.

Using the services of a business coach from Brisbane you will be able to fast track this learning cure by taking advantage of the skills and experience they have gained from successfully managing their own and other peoples businesses and the advanced training they have in this field.

A business coach from Brisbane gives you the advantage of a fresh perspective with new approaches to problems and situations that frequently hold many small businesses back from gaining their full potential or reaching new goals.

Business management is now vital

Most leading and successful business operators rely on the services of business coaches as they provide an opportunity to gain a balanced view of all the different options available while helping them to avoid many of the traps that people without the benefit of sound and unbiased advice often fall into.

Redefining your role in your business

Do you work for your business or does it work for you? Do you spend many hours each day trying to ensure your business is productive? Many business operators are not good at delegating workloads or responsibilities. Often by understanding better business management options and skills you can share the workload with others and delegate more efficiently.

Your Brisbane business coach is ideally situated to help you tailor and redefine your business goals and business plan with a solution that is crafted to suit your individual situation and unique business requirements. Just because it worked for someone else and it was once a proven method, does not mean its right for you now.

Professionalism

Customers are becoming much more discerning and fussy, they have many more options than ever and will not bother with the old she’ll be right attitude of the past. They now expect you to show a professional edge and conduct your business on a professional, yet personal level.

Brisbane business coaches help you bring your company up to a standard super efficient standard, allowing you to take advantage of all the opportunities that present themselves, many of which you may have missed because you were too busy to manage your business in the best ways.

The Ultimate guide to find the best business coach

If you’re an entrepreneur or small business owner it is often advantageous to seek guidance or a second opinion on matters that affect your business or to have someone to sound off new ideas who is not intimately involved with your business A Brisbane Business Coach is someone who will ask you the right questions and help you get to the bottom of sensitive issues or make the right decisions as well as guide your business onto the next level.

How to find the best Brisbane Business Coach:

There are some of the things you should take into account when assessing which business coach is best for you:

Under Standing Your own Unique Situation

Before you try and find a Brisbane business coach, it’s important to do a complete self-assessment so you’re really familiar with your current personal and business situations. This is important because you will need to have a reasonable idea of the direction you want and need to go in to achieve results and gain the full benefit of a Brisbane business coach. It will also determine the type of Brisbane business coach you need

Talk first and Check Your Chemistries

Personalities play a big part in any business relationship, so it’s vital that you click with your future Brisbane business coach and that you can find some familiar ground to start with. Just having the best credentials and resume is not enough if you find it hard to communicate or have a personality clash. We’re not all perfect or perfect matches so it’s important you sound each other out and develop a level of mutual trust and respect.

Most business coaches will offer a free first consultation, webinar or workshop, so it’s vital you take advantage of these before making a commitment.

One To One

Just like every business owner every business is unique and so will your problems, concerns and questions. A business workshop can be very helpful in getting a broad idea of where you need to go, but a one to one Brisbane business coach allows them the ability to concentrate on your specific set of problems and needs and help you find the correct solutions that suit your business and the conditions you’re working in

Will they also, engage your Business Team?

A good Brisbane business coach will not only develop a motivational relationship with you, but should also be able to engage your team as required so you are all on the same page

Trust your Instincts

When you’re in business, it’s often because you trust your instincts and have a good business sense, so continue that on with your selection of finding the right business coach. Talk you’re your colleagues, friends, co-workers and family, read reviews to check on potential business coaches, but go with the way you fee and pick a Brisbane business coach who you feel you can talk, be comfortable with and be totally frank with. A person who intimidates you or you’re worried about upsetting, is probably not the right business coach for you

Having a Brisbane business coach is meant to take you out of your comfort zone to see your business from a new perspective and to help you improve. You need someone who you respect and will treat you with honesty and constructive criticism, they are not meant to be your friend, they are your business’s friend although a personal friendship should eventually develop