November 5th, a day synonymous with Guy Fawkes, and watching spectacular firework displays with friends and families, gathering around a bonfire to keep warm and have some fun in the lead up to Christmas. This year however the day also marks the start of the second national lockdown in England, which is worrying for the economy and the future of businesses in almost every sector.
Rather than feel hacked off with the restrictions facing us all, the team at Moveo Associates got together to brainstorm the practical things that leaders and owners can do to keep positive momentum in their businesses. Here are our top five hacks for keeping the fire burning in your company and for protecting yourselves for the future.
Hack 1 - Choose a #Growth mindset
Over a fixed one. This is an idea originally conceived by leading Stanford University Professor of Psychology Carole Dweck, which has taken hold in many leading organisations all over the world. The basic premise is individuals who believe their talents can be developed have a growth mindset. They tend to achieve more than those with a more fixed mindset (those who believe their talents are innate gifts). When companies embrace a growth mindset, the feedback shows employees feel more empowered and committed, and in turn deliver benefits of improved motivation, innovation or productivity. If you buy into the idea, try applying it to your business and how to trade in difficult times. Perhaps your team can find new ways to provide brilliant service, encouraging your customers to come back or maybe you see a way of delivering your service more efficiently, reducing costs and preserving cash? If you want to learn more, click here https://hbr.org/2016/01/what-having-a-growth-mindset-actually-means.
Hack 2 - Be Considerate
Of your staff, your customers and your suppliers. They may be finding things a bit tougher than usual. Why not increase the quality and regularity of your communication, so that your important groups know a) you care and b) you have a plan for protecting and securing as much business as you can (all with a little help from a growth mindset of course). Have open conversations to find out if any supplier arrangements need to be adapted, or to let your team know how you will provide a safe and supportive environment, to help keep them well both physically and mentally. A CEO I know well is already putting Christmas party plans in place for staff which are different this year - encouraging groups to buddy up in sixes and arrange lunch, so that everyone gets to socialise, be treated to a festive meal and take time out to mark all that has been achieved in 2020. Whilst the big Christmas bash would be the ideal, this CEO has taken the pragmatic view of ensuring their staff let their hair down, pandemic-style.
Hack 3 - #Prospect, Prospect, Prospect
I have heard a few business executives tell me that prospecting has had to stop, as it is impossible to do without going to conferences and networking events in person. Not so. Now is the time to speak to those people you always wanted to talk to. Be ambitious and book in video calls with those on your prospect list or those who haven't found time to agree a meeting with you before. The reality is no-one is travelling, everyone has more time and more space on their hands, meaning now is a good time to think, plan, learn from others, make new connections and exchange ideas. Try it and let us know how you get on. Our best guess is you will find prospecting a little easier than it used to be, if only you can get your mind around digital networking being a real thing that works!
Hack 4 - Be Noisy
Another hack for you to consider is deciding to #disrupt (not just serve) the market with your products and your solutions. Have you got an interesting perspective or idea that you can share with others, to inspire them and help their business succeed? Trust me - this is a win for everyone. You look good, and in the process, have helped someone else. Or perhaps you have spotted a new need with a solution to match? If so, shout about it from the rooftops - it is a crowded marketplace out there. Can you offer a #lockdown incentive that enables your customers drive their plans forward without breaking the bank? Whatever you do about marketing your business - through product innovation, offering special terms, or sharing your thought leadership ideas - make sure you make plenty of noise and deliver a spectacular display.
Hack 5 - Be a Team
Working from home has some benefits, such as no commute, arguably fewer disruptions and easy access to the fridge and all of its delightful contents. On the flip side it means people are at risk of working too much alone, feeling isolated and disconnected from teammates, and miss those casual conversations around the kettle or at the impromptu drinks after work. The best employers are working hard keeping their people connected by being creative and embracing technology. Think about how you can connect people, not only through regular phone calls and meetings to discuss a particular project or piece of work. Make sure you organise informal get togethers as well, which are about being together (this is how teams gel and learn how to complement each other). For example, a business owner that I admire recently hosted a team awards night (all delivered via a video platform) celebrating and recognising all kinds of contributions to the business, underpinned by a personal gift sent to the home to show genuine appreciation.
So that's our five top hacks for growth during lockdown. Care to share
yours?
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