Decision Making During Times of Change
A crucial skill needed to develop a successful business is the ability to make seemingly perfect decisions that lead to you achieving goals. While that presentation paints a great picture, the steps to strategizing are a complex mix of choices that impact all levels of your company. That fact was magnified when the marketplace was disrupted. The unforeseen circumstances created common themes of endless problems, waning company morale, and accommodating a riskier market. It forced many entrepreneurs to adjust their lenses and re-evaluate the steps towards growth.
Rework the Strategy
When first addressing a roadblock in a plan, our knee-jerk reaction is to immediately eliminate the problem and course correct. When the roadblocks are layered and continuous, however, knee-jerk reactions tend to have the opposite effect. Taking a little time to compartmentalize issues and weigh their impacts on the company is important in reshaping your idea of growth. Assess the realistic changes to your short-term and long-term goals to determine which pillars are now integral to the structure of your business. By understanding what needs attention and how to approach a solution that incorporates your entire team, you are building a bridge between your different goals and directing the impacts toward a shared vision.
Revitalize Your Team
Once key influences are pinpointed, it is important to identify leaders on your team who can incorporate their skills in connecting the smaller details to the larger picture. Organizing a new structure and assigning responsibility to those who understand how to lead through uncertainty strengthens your operations. Implementing strong midpoints between leadership and employees also paves an avenue for encouraging input from members of the company - thereby creating greater loyalty. The varying questions and viewpoints of your team can serve as a collaborative guide towards critically assessing your strategy, developing preventative methods for problems not observed from a higher level, and mapping out a timeline for how to achieve these goals together.
Create an Environment of Growth
When leaders understand how to support and inspire their teams, your associates have a clearer understanding of how their actions benefit the team’s objectives. Taking action on smaller issues, fulfilling deadlines, and adopting an environment of communication are important investments in accessing a new level of teamwork. These investments lead to real-time solutions that mitigate any drawbacks and refocus efforts towards a cohesive goal of success.
Recognize the Need to be Adaptable
Recognizing how and where to make adjustments to your strategy is just as important as mapping it out. Information application and feedback are great ways to stay up-to-date on which practices have a season versus a reason. Learning what tools improve the functions of your business set companies up for success. Moreover, understanding how to hear critiques around the impacts of strategic decisions maintain the efficiency of your strategy. Whether your delegates are collecting data to measure your company’s efficiency or following developing trends that would impact your business, understanding which methods do and do not work on a larger scale creates more opportunities to solve a problem with a sense of creativity and pragmatism. Through this willingness to tune the finer details of your plan, you can stabilize your company during times of uncertainty, and prepare to thrive in a stronger market.
Are you ready to invest in your team? The People Institute is ready to grow your company’s leaders. Take a look at our training programs or chat with us to figure out how we can help you grow.
For more helpful leadership tips and resources, contact The People Institute today. We are people people, here to help you connect with your team through comprehensive professional development training.