Thriving Through the Chaos

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So we’ve had quite the chaotic last year and a half or so, haven’t we? Unfortunately, I don’t think we’re done with the disruption. Between supply chain issues, huge restructuring going on in the labour market and storm after storm of disruptive weather events, I think this kind of chaos and disruption is with us for a while. The good news however is some companies are going to thrive through this and I’m sure you want to be one, so I’m going to give you three ideas to help you thrive through the chaos. First of all and none of you should be surprised by this one, get your financial house in order. Make sure you’re getting financial statements timely and regular. Make sure you’re keeping an eye on your cash, preserving as much cash as you can. That old cash is king cliche is a cliche because it’s true. Second of all, don’t be afraid to innovate. The firms that are going to thrive are going to be the ones that are doing something different from the rest of the pack, so try some things. Some of them are going to work, some of them aren’t, but that’s okay because that’s how you’re going to find some new creative ways for you to do your business. And finally you need to get rid of the dead weight whether its products or services that aren’t profitable, clients that really aren’t worth what you’re getting out of them, or even employees that really aren’t carrying their weight. This is a time where you need to be lean and agile to thrive, and again, there are going to be companies that thrive wildly and successfully and I want you to be one of them. So I’d love to hear from you. Please please leave a comment and tell me what you’re doing to make sure that you thrive through the chaos ahead. Thank you. This is Judi Otton with GrowthCast and I’ll be back next week with a Fiscal Fitness Tip of the Week.