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As a media relations consultant, I am presenting many articles to journalists about the effects of inflation. Inflation and rising prices are issues on everyone’s mind, which are affecting everyone. Undoubtedly, now is the time to see where a penny goes – entrepreneurial or not.
It’s not just inflation; We are all experiencing a new and strange reality where there is a stretch to do more, buy more and play more. This desire is accompanied by a dismal price hike and the tragedies we see every day abroad and in our communities.
However, as a boss, you are tasked with looking beyond the anxiety-ridden details and to look for opportunities. Whenever there is a significant change in your industry, it’s time to read the situation for what it is – a huge opportunity for growth and redirection.
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create a new model
Recently, I’ve been attracted to a quote by Buckminster Fuller, “You never change things by fighting the existing reality. To change something, create a new model that makes the existing model obsolete.”
Now is the time to make a change. Use that “do more” energy to fuel positive change and build a new model. Whether you’ve been in business for a while or are part of “The Great Regeneration” and looking to start a new business, take a minute to think about your goals and priorities.
The first step is to look at your finances. Is there anything you can reduce or eliminate from your finances? Are all the resources you used to improve your business? If not, it’s time to let them go.
But don’t forget, reducing spending is not the strongest and only response to change. New income is coming in. Find a balance between cutting costs and keeping what you need to be successful.
The same is true for your actions. Do you have the machinery, supplies – even an office – for which you are paying and receiving nothing? You now have permission to cut into those tasks.
Start thinking big when you have your internal operations where you want them. Are you sure you are where you want to be? What needs to change to achieve your goals?
Making changes leads to unexpected improvements
When we asked ourselves these questions, my company decided to improve its brand messaging and refine its new business goals. Some we did on our own, and some we hired because we were too close to the story and wanted to remain objective.
Our changes weren’t huge, but they did make a big difference. We simplified our website and online brand beauty so we can create more engaging content quickly. Before the change, we had to do a lot of background work to match and line up everything with our marketing materials.
We got stuck updating an old website that wasn’t playing to our strengths, so we replaced it. We kept the pages and content we needed and left the rest. Now we have a logo, color palette and messages that are easy to use in ordinary situations.
Our transformations allowed us to accelerate our work, remove barriers, and pursue thoughtful content. Our changes shocked us and improved our perception of who we really were and the types of people we help while communicating to our market.
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Use outside help and resources
During this time, as owners we need outside help. With some encouragement and coaching, we can create a new narrative. Not only will outside help make it clear who we are to our customers, but it will make it easier for us to tell the story. It was important for me to maintain authenticity when making changes, so I kept that in mind when making any decision, even if it involved outside help.
It is essential to develop a narrative, make sure it is accurate and that your company incorporates it consistently in every decision. For us, this meant more personalized marketing. It may be something else for you, but it’s important to figure out your narrative.
The most important thing is to assess what is in the way of getting what you want. This is largely in line with being authentic, but it does require a little self-awareness. If you need help with this, find a good coach.
Business owners, especially more established ones, can be very set in their ways. Obstacles can be hard to see if you’re not looking for them. The road ahead will be more straightforward if you can move out of the way of thinking that you don’t need to make changes.
If you’re nervous about the future, follow these guidelines so you feel more efficient at handling whatever is thrown at you. Be alert and ready to take advantage of every change that comes your way.
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