Is this the new normal? – Lateral thinking for your last quarter business review

“It’s been an interesting year” – is a comment i have heard from many small business owners this year. When I ask – “Interesting in what way?, the responses have ranged from a total need to reinvent an organisation’s products, through to innovative reduction of overheads. Less than 5% have said it’s been a record year. So if this is the new normal, let’s look at some lateral thinking for your last quarter business review to ensure that next year is more buoyant:

1. As attached as we sometimes become to our products and services, in this changing marketplace – maybe it’s time to ask your team – Can we fill a need that our clients may have, even if  we have never offered that service before?

2. And focussing on the law of reciprocity, is there someone within your network, whom you can help with information, connections and potential work?

3.  How can you enhance your client’s revenue by generating regular referrals for them? Hold on, isn’t this about your own business, so why would I suggest helping your client’s business. Well this is the new normal – so it’s not all about YOU, it’s about how you and your clients become allies and jointly help each other’s businesses grow.

4.  Do you need a mentor or coach to take you to the next level of your career? Or will actually allocating time for you to work on your business, be a great start for you to think creatively about your business and your priorities?

5. Are you prepared to be a mentor to another person in your industry? Mentoring can be a great networking tool, particularly if the mentoring is including in a group mentoring program. Not only do you get to share your highs and lows with your mentee, but you also get to network with others and build strong connections. 

6. Are there untapped networks that you need to connect with? Are you making networking a priority for your business? If you are too busy right now to show up at local chamber of commerce or industry specific events, why not send your partner or staff members. Ensure they have business cards and be clear on what you want them to do at this event. My tip would be to encourage them to be friendly, exchange business cards – have some quality conversations with others and ensure they have time the next day to follow-up with any connections they have made.

7. Will you start your own mastermind group in the next 6 months? Too busy, just staying on top of things? I would encourage you to have a priority of brainstorming with others – not necessarily only those in your industry. Fresh ideas often come from those not remotely connected to your industry – those who don’t have blinkers on, or any previous history of how things have to be. You might consider starting a small mastermind group with 4-5 people who make a commitment to meet on a monthly basis for 2-3 hours on brainstorming. Why not trial it for 4 months and see how it goes.

8.  For the next 3 months, ask ‘WHAT IF?’ often. What if we were starting our business from scratch, what would we do differently? What if we relocated our business to another state, another suburb? What if we exported? What if we stopped exporting?

9.  Be open to chance meetings  and opportunities – sometimes those chance meetings when we are in a social environment fast track some serious business connections. Always remember to follow-up and try to under promise and over deliver – far better than the opposite.

10. Finally consider creating your own new normal. When change is constant, flexibility is important. Just because we have always done it this way, doesn’t mean it is the only way to do it. Be open to ideas, spend time reading/researching what’s hot, what’s not – and now more than ever trust your intuition. Your gut feeling, that really strong feeling that you have that there is a better/different  way to do something – even though it might be so different that people tell you, you are crazy.

To quote Carl Sagan – “Somewhere, something incredible is waiting to be known.” All the best creating your new normal for a prosperous year ahead.

2 Responses to “Is this the new normal? – Lateral thinking for your last quarter business review”

  1. Is this the new normal? – Lateral thinking for your last quarter business review (via Robynhenderson101′s Blog) « Business Coaching Byron Bay Says:

    […] "It's been an interesting year" – is a comment i have heard from many small business owners this year. When I ask – "Interesting in what way?, the responses have ranged from a total need to reinvent an organisation's products, through to innovative reduction of overheads. Less than 5% have said it's been a record year. So if this is the new normal, let's look at some lateral thinking for your last quarter business review to ensure that next year … Read More […]

  2. blogbyron Says:

    Robyn, I love everything you think!

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