Sowing the seeds for business recovery: Is it time to change your mindset?
If you’re a business owner, chances are your 2020 hasn’t gone to plan. At times like this, it’s easy to focus on how your business has lost out – the growth plans that went out the window, the new launch that’s been delayed indefinitely, the disruption to ‘business as usual’. It’s all too easy to focus on how things used to be, how they’re supposed to be.
But does that really serve your business? Not so much. Far better to look to the future, as many of our clients are beginning to.
I’m too busy worrying about the present!
We hear you. In times of business disruption, you constantly have to put out fires (figuratively, that is) and fight to keep the business functioning. That intense focus on the here and now gets you through the initial disruption, but it doesn’t help you plan for recovery. So if you’re still in firefighting mode – or if you’re stuck dwelling on the past – it’s time to switch things up.
That’s why every business needs to be looking to the future and identifying new opportunities. This will mean different things for different businesses. For some, it may mean pivoting to serve new customers instead of waiting for the traditional customer base to return – such as a sandwich shop delivering to folks working from home. For others, it may mean reinventing the business and turning it into something new – from smart clothing retailer to loungewear brand, for example.
Now is the time to identify what your business has (as opposed to what it’s lost), and how those assets can be used in new ways to rebuild and reinvigorate.
How your accountant can help
Accountants aren’t just there to file your tax returns and manage your cash flow. From identifying inefficiencies and areas of waste to pinpointing spare capacity and how it could be redeployed, accountants are a valuable tool in building a more agile, forward-thinking business.
It’s a more strategic partnership than you might think, then. The right accountant can be a catalyst for business growth, helping you evaluate opportunities and drive the business forward, whatever challenges lie in store.
Among our clients, there’s certainly a renewed sense of optimism and vigour, and we’re working with business owners of all kinds to ramp up their activity. Chat to Jupp Castle about your business’s challenges and opportunities. With our support, you can begin to look forward, not back.
(Photo created by schantalao – www.freepik.com)