Long before coronavirus was a word in common parlance as it is today, I talked about building a sustainable business.
A sustainable business can weather most storms. Being a lone ranger in business is all very well, but it leaves you with very few resources to draw on when uncertainty arrives.
I think now more than ever, small businesses are realising the power of having a large network.
An example: I’ve built my care business into ten franchises and as it’s grown, we’ve developed our network to encompass HR experts, a CQC consultant, marketers, business growth specialists and more. Our HR associates have been able to help the teams respond quickly to the recent epidemic by helping them write and implement contingency plans. If it was still me on my own, this would have been a tougher challenge.
Having a business is fantastic when times are good, but in those moments, you also need to be asking yourself: “How can I protect my business.”
Remember, you’re not alone – There are people to help and advise you in my special supportive Facebook group. Everyone in there has a business and can share ideas and expertise.
Be a leader
Now is the time to prove to your teams that you’re a good leader. We’ve seen a few bad examples of leadership in the past couple of days alone – Famous millionnaires showing their true colours in the face of a fight. Being a good leader means keeping a cool head and doing the right thing by your staff. They will remember how you treat them now, so show them a positive mindset and put them at ease. Let them know you will be back fitter than ever and there will be plenty of work to be done.
Being a leader also means using these curveballs to think of new opportunities to help your business prosper, even if that’s going over your business plan to future-proof it. Perhaps there’s something you can achieve that you would never have thought of if you’d carried on as you were. Even crises can open new doors.
Franchising a business is, in my experience, a very powerful way to create sustainability. If you want to know if franchising could be the way forward for your business, then download 5 Things to Consider Before Franchising.