Business resilient is the new catch cry for large business and corporations. In addition to Disaster Recover (DR), Business Continuity (BC) and Risk Management it is an additional process that small and medium business (SME) need to start implementing to improve their business processes.
DR, BC have a number of things in common. They are designed to come into effect after something detrimental has happened to the business, they are systemised responses and they can beinflexible. Risk management is also looking at a problem after the fact and how to mitigate the risk. Business resilience will help in the previous areas because it is also a psychological and cultural component of the business. Business resilience is also a great benefit when a business opportunity has been created and it allows the business to react appropriately to the required change and improvement.
In the 80’s and 90’s there was a concerted push in business for Total Quality Management. TQM was designed to improve business and allow anyone in the business to make recommendations on how the business does business. These changes came about because people at the “coal face” can see their job and better ways of doing and improving the way it is done. This creates better efficiency, improved profitability and happier staff.
Business resilience has 7 areas that can improve and benefit your business with minimal impact on your budget and business resources. Business resilient is attitude and culture
Like a top footballer if you do not have the basics in place then none of the natural attributes of the player will be worth anything. As a business, the basics of resilience include always have some way of capturing ideas, comments and complaints from within your business and externally through clients. If a client comes to you and said if you did this <process> differently then we would be happier and would buy more services from you. That small change makes you a better alternative to your client than your competition.
As a business you need to ask what are my client’s problems and how can I fix them within my sphere of influence. This will deliver superior solutions to your clients.
You have to know what talents you have in staff to push your business forward. By knowing what your people can do you have the opportunity to create additional products and services within your business portfolio. This will allow for the staff to become more involved in the business as well as focussing them on what they are doing.
As a component of a resilient business a business plan is essential. This allows you to sit down and work out where there maybe problems in your strategy and allow your business to create bridges over the adversity. If you do not have a business plan then now is the right time to start working on it. The business plan will further focus you on the correct direction for your business.
As a business owner your goal should be to create personal drive for not only your business but also your staff and customers. Resilient business owners know their clients business and know how to create and supply the right solution to the problems that they may be facing. This drive is also a component of both the business plan and the business focus.
As a business owner, new ideas, services and products are the life blood of your business. You, as a business owner are not the only one who has to come up with them. If the business develops a culture of everyone will have the same input then any and all ideas can be used to create better business.
By tapping into the resources and ideas of your staff and as a micro business your friends and family there will be greater opportunities for your business.
The culture of a business is critical of how the outside world views you. With a great internal culture your business will attract the right talent for your staff. It will also build the right internal emphasis so that those working inside the business will support the direction that you want to take the business.
By developing a culture of help, respect and compassion within the business you will be able to react to business opportunities in a positive way.
Time is finite; we all have the same amount in a day. It is how we use it that is important for a business. Don’t be a slave you your inbox, see what is happening outside your office, develop a nosy attitude to everything that is going on around you. If you do this, a little comment by a client or a staff member can greatly benefit the way you do business and could drastically improve your bottom line.
Business resilience is no longer about making sure that if something bad happens that you can get back from the brink. Business resilience is looking for the opportunities within your area of expertise and exploiting that chance to its maximum. By using the internal culture of the business a business can greatly improve its direction.