Building personal resilience. If you’re not in a good place, your business won’t be either.
That was the stand out quote from the Q&A with Emma Mills-Sheffield at our Club-Wide Online Meetup!
Emma discussed how to build resilience, ways personal and business resilience are intertwined, and how to best prepare for future challenges. She also shared how one coping strategy of a client of hers is to empty the dishwasher!
Thank you to meetup sponsor Bark Like A Big Dog.
What are the most common business challenges at the moment?
There’s two sides to the challenges that people are facing at the moment.
Some businesses have done fantastically well, and sometimes we forget about that! If they’re in the growth phase it’s about how to recruit and onboard remotely. Looking at business growth and culture change. We’ve gone through the working remotely phase, and that’s certainly a challenge for growing businesses.
We also had a massive amount of industries effected, that in reality some of them – hospitality, tourism for example – that the challenge for them is how do they work remotely, or how do they change their business to being online.
People have taken stock and tried to move online, or short term tried something different.
What do you think about diversifying or change business model versus sticking with what you’ve always been known for?
There was a narrative that people must diversify or pivot. But in reality, you always need to look at what your strategy is. Where do you need to be? What can you control? What can’t you? What do your customers and clients actually buy from you
A lot of people panicked and decided they must move online. But you don’t need to start going too scattered. Stick to what you’re known for, and good at.
Have you seen businesses become more resilient over the last few months?
From a taking stock perspective, businesses that have grown rapidly have build a more solid foundation, thinking about what they truly need. They’re able to be more resilient when they grow next time because they know what they need.
Brilliant customer service has really helped with resilience as hours have got longer and they were able to stay open when other things weren’t. That breeds loyalty.
Posting things out to customers. As an example, cake makers who are no longer doing wedding cakes can turn their hand to subscription boxes of cakes. I know an events company who now sends out hampers including products from local suppliers.
What can you do to help build resilience? Are the principles the same in personal and business?
The two are massively linked. Everyone is so focused on business at the moment that you have to work on your personal resilience. You have to know what feeds you. If you’re not in a good place, your business won’t be either.
There’s a low level and needs-must for building resilience. Some things that might work long term are yoga, meditation or exercise. Short term, you’ll need healthy coping strategies. It’s going out for a walk or run. I even know someone who loves to empty the dishwasher! Something that allows them to step away from the laptop.
Make a long list of all the healthy coping strategies you can think of and pick your top 2 that you always keep.
How can we be best prepared for any challenges that come up this year?
We need to acknowledge that something will always happen. As a business owner you’ll need to start planning for sickness, holiday and the normal things. Take stock of your business, look at what support networks you have and plan plan plan!