Surviving tough times: The power of awareness (1)
Success is not determined by your starting point in life – it’s about what you do with your life and how committed you are to the future you are creating” (Domonique Bertolucci).
In September 2013, I had the opportunity to speak at an entrepreneurship and small business management workshop in Johannesburg, South Africa. My presentation focused on achieving and maintaining business success in difficult times and in tough environments. My submission at that forum was that every business has its own uniqueness, simply because the person behind the business is unique individual. The point being made at that time was that every business can grow and become successful if provided the right internal and external environment to unlock its potentials and express its unique. That uniqueness is what is referred to as business intelligence.
The internal environmental factors are conditions within the business operating environment that can be controlled, while the external environment factors are those that cannot be controlled. The implication is that, because the inherent abilities and potentials of a business are impacted by these two environment factors, every business owner and/or manager must be aware of their potential positive and negative effects. Such awareness is especially beneficial when there is also awareness of internal strengths and weaknesses of the business.
In reality, many small business owners and managers lack true awareness of the unique potentials of their business, and how to uncover the hidden wealth therein. Sometimes, it is because they are too focused on business survival especially at tough times. Of the many benefits and advantages of business coaching, bridging the personal awareness gaps of business owners ranks very high. The role of the coach in this regard is to provide all-round support to the client, thereby facilitating access to the hidden wealth within the business. The most important refrain of a business coach in this regard is: “Things may be tough and rough, but our resources are enough!”
No matter the state of any business, there are always greater heights to attain and more success to achieve, as long as the right knowledge is accessible. This is why the power of coaching in facilitating business reinvention and rebranding is unquestionable. As a matter of fact, it is during tough times that most businesses have learnt to look inwards, thereby becoming more creative and innovative.
This is possibly because many other business owners and managers often give in to depression and give up on their dreams when times are tough and their businesses are struggling. Some will spend their time and energy blaming the government and others for their woes instead of seeking new ways and strategies to get ahead. Still, some others would simply pull back and shrink away in fear, thereby causing several unmet customer needs to emerge in the market.
However, for the business person with acute personal awareness, every downturn tends to offer fresh opportunities to introduce innovative services and launch new products in a well articulated manner. It all boils down to increased personal awareness, unique knowledge (or business intelligence) and inspired actions coupled with careful planning. Tough times in business don’t always last long. As a matter of fact, they often tend to come in form of a seasonal change, necessitating adaptive changes in just the same way that we have to adapt to changing climatic or environmental conditions.
You must be tough when times are tough. But being tough will require to make tough decisions. These are decisions about where to play, how to play, what to play with, and how to win. To win in tough times means that you must be responsive and not reactive to changes around you. Being reactive, usually due to fear, leads to taking panic actions. Being responsive on the other hand enables you to creatively think out realistic solutions, which would make you adapt better to the changes. Being responsive implies ‘response-ability’. This suggests that you can It fact profit from the changes.
To give a classic example, an international management consulting firm with operational networks in South Africa, Nigeria, Botswana and Ghana decided that the economic downturn of 2008 provided the opportunity to offer certain specialised solutions. The firm therefore established a business clinic initiative, which entailed the provision of business building solutions for sustainable growth, profitability and market competitiveness.
The initiative focused on business turn-around, brand profiling and expansion strategies, using mainly business coaching techniques, principles and methodologies. By the end of the global economic recession a little over two years later, the business clinic initiative had itself transformed into a completely new organisation, which had been retained or engaged by more than 30 companies and businesses in six countries.
Obviously, the experience garnered during the tough times and by providing solutions to struggling businesses or those operating in tough environments had helped to position this organisation in tough times. It is remarkable that it was in the time of difficulties that the company found its market niche, as it built capacity and grew during the economic downturn. This is the same time that several other management consulting firms lost clients, business and eventually folded up. Surely, it takes great awareness, creativity and inspired action to succeed in tough times.
Emmanuel Imevbere