12/05/2024
I know every business journey has its ups and downs.
Over a typical 10-year cycle, you might experience six good years, two great years—and two tough years that could threaten your business’s survival. While we can’t predict the timing, we can prepare for them.
Here’s how:
1️⃣ Build a Financial Safety Net:
Save 6 months of cash flow—both personally and professionally. Always be ready for a 30–50% drop in revenue.
2️⃣ Reassess Your Plan Using the V/TO (Vision/Traction Organizer):
- Are your 1-year and 3-year goals still realistic?
- Is your marketing strategy focused on the most profitable customers?
- Are your Rocks (90-day goals) set up to protect and grow your business?
3️⃣ Use the Reverse Accountability Chart:
- Plan for a 30% revenue loss. Who do you need to keep?
- Identify wrong-fit people now. Why are they still in your organization?
- Strive for right people in the right seats, always.
4️⃣ Strengthen Your Meeting Pulse:
- Commit to weekly, quarterly, and annual meetings. In a crisis, meet more frequently to stay agile and focused. Some teams met daily during COVID-19!
Bonus Tip: Simplicity wins.
In tough times, you won’t rise to the occasion; you’ll sink to your lowest level of preparation. Use a system that’s simple and practical, like EOS.
As Warren Buffett says, “When the tide goes out, you can see who’s been swimming naked.” Don’t let that be you.
Ready to take control and thrive in all seasons? Start by implementing a proven operating system.-Send me a message to learn more!
During a 10-year period, you'll experience 6 good years, 2 great years, and 2 terrible years. Unfort...
