Remember that game we would play with our friends to stare each other down and whoever blinked first loses? I see a lot of similarities in that game and the current state of the economy largely as a result of the Coronavirus. As we all know life has a way of giving us plenty to grow from. My encouragement today is deal, adjust, get creative but don’t you dare blink!
Blinking specifically in business can show up in multiple behaviors. It might be selling your entire portfolio during the downturn in the market. It might be laying everyone on your team off because we “might” not be able to afford them. It might be pulling all of your advertising because “No one out there is going to buy right now anyway”.
The worst form of blinking is fear induced paralysis and doing nothing. Coasting has never been a sound personal or business practice and coasting at this time ie. waiting and seeing will only bring more of what you don’t want and/or will ensure you miss out on awesome opportunities this economy is presenting.
I realize sometimes with challenges so big and global and yet personal it can be easy to freeze and virtually go into fetal position personally and in business. I also want to be clear I don’t want to gloss over the gravity of this crisis. My heart and prayers are with all those who are struggling with this pandemic financially and physically. It is for these reasons that your financial and physical well being continue to be our top priority at Pinpoint Management.
To assist you in staying physically and financially healthy, over the next few weeks I will be sending you 10 Action Steps to assist you in navigating these waters strategically and emotionally and moving you from crisis to control. I’m confident if you will act quickly and consistently, you can still have a record year in your business!
Crisis Action Step #1
Get clear on your numbers and manage to them. It’s impossible to manage or control what you cannot or do not measure.
If you want to take the emotion and frustration out of management and get predictable, consistent results assign an expected number to what you are managing. Examples would be sales calls, bids, customer service scores, due dates and times, profit margins, introductions, etc. These numbers are called “Key Performance Indicators” or “KPIs”. They are key because they can support you in predicting everything in your business from production to profit. Watch what happens to every part of your business that you apply the tool of numbers and measurements.
To your success!
Chad Harward – CEO
P.S. If you are unclear on what would be measurable and relevant in your business call us at 801-349-1129 and I will spend some time with you determining your KPIs to fast track you to accelerated results!