In challenging economic times, businesses will turn to surviving and not worrying about scaling. As a business owner, you need to always be looking for ways to adjust and scale your business. The world and its products and services change too fast for you not to be joining in on it.
So, what do you do when times are good or bad as it relates to business scale? Research and then research some more. Never stop looking at what is changing in your world. There are some terms I would like for you to look up when you have time. That is Blue Ocean Strategy and Red Ocean Strategy. A red ocean strategy is what you are probably working in today with many competitors, all competing for the same market share and so on. A blue ocean strategy is a marketplace that does not exist yet, but you are going to create it. The best example we can think of for this is Cirque du Soleil. They witnessed the downturn in traditional circuses with animals such as elephants and became a circus with humans. A perfect example of a blue ocean strategy. This is what we recommend for the business scale. Market your brand, research on how you can become different and more efficient and implement.
Once you have looked at and thought about the business scale, your employees will need to get you there. Without leadership, however, your wishes will be short-lived. People do not adapt to change very well, and leadership and owners will need to be there to support the efforts. We understand that leadership is under a strain in uncertain times, but if you wish to survive change, some are going to have to put in the extra effort. To the positive side of things, all employees want to see growth happen and do want to be a part of it if they truly love what they do. In uncertain times, this can also be a time where you shrink your staff mix, so you can concentrate and not have to worry about staff members that are not pulling their weight. We know for a fact, based on our research is that there is a job for everyone, everywhere. It is up to leadership to identify the need and put the proper people where they need to be based on strengths. Scale your employees, because they will thank you later.