How to Grow When It’s Slow is another Blog Series brought to you by the Acadia Parish Chamber.
“Imagine,” suggests business expert Cameron Herold, “if you train your employees on interviewing, train them on effective meetings, train them on an email management, train them on time management, or if you could really work on skill development right now-you can come out of this stronger.”
Cameron Herold is a top business consultant, best-selling author, and speaker. He’s the mastermind behind hundreds of companies’ exponential growth and teaches today’s most dynamic business leaders. On a recent podcast episode with Real Estate Rockstars Radio, he did an interview where he shared tips that helped businesses grow and prosper during the global financial crisis. These same tips are ones all businesses can use right now to keep growing.
Periods of slow growth come with great challenges both for businesses and consumers. However, you can take advantage of such times to improve efficiency and increase productivity. Herold had some great advice for business owners in his interview, and here are some recommendations inspired by him.
Clean up your business systems-and your work space.
Most businesses will focus only on sales and marketing to survive hard times. You can also use this time to work on your standard operating procedure to ensure it meets your current and future needs. Slow growth periods are ideal times to purge and clean your warehouse, offices, desks, filing systems, and other important areas of the business. Cleaning the workplace will go a long way in creating a better work environment and improving efficiency.
Training and skills development
Considering the busy schedules that characterize modern workplaces, employers have little or no time to train their employees. When it is slow, you can use this time for training and skills development. Train employees in critical areas like interviewing, effective meetings, time management, and email management. Skills development will also help to address weaknesses and strengthen skills, allowing you to bring employees to a level where they can work without constant help and supervision. In a nutshell, training and skills development will contribute to improved employee performance.
Take advantage of technology
Periods of slow growth can allow businesses to make the most of existing and new technology. As more employees work and communicate remotely, they will save significant commuting time and be less distracted when handling projects. Businesses can maximize technology to increase productivity by setting up efficient communication channels and empowering all employees to work remotely. Teleconferencing and working from home are quickly becoming the new normal, a factor that could affect the organizational structure of many companies.
Explore alternative work sites
Changes such as teleconferencing and working remotely will have a significant impact on office leasing. There will be cases where staff members are unable to make it to the corporate office, and working from home is not an option. This situation may force businesses to identify alternative working sites such as sterilized co-working spaces. Choosing a great facility will allow you to carry on with your activities despite the disruption caused by issues such as infectious epidemics. Employees can remain productive in emergency situations.
Proactive employee support
When your employees work remotely, your physical office will be set-up into numerous virtual offices. Maintaining proper communication between managers and employees will require that you give your staff the necessary support. Through observations and conversations, you will be able to identify and understand any signs of agony. These include low morale, low work productivity, and anxiety relating to the slow-growth period. Addressing employee concerns will help in increasing productivity to ensure your business survives the tough times.
For information about how to become a better business owner or operator, check out the Second In Command Podcast at CameronHerold.com/podcast.
And stay tuned for the next article in the 6-part series How to Grow When It’s Slow on the topic of building culture in a remote working environment.