As a business owner, sticking to your guns is all well and good, but it is your ability to adapt and your flexibility that will help your business to survive and thrive.
Acceptance
From day one, accepting and understanding that things change will help you to think on your feet, work smarter and react faster to changes that may effect your business. Ideally you want to be changing ahead of the impact – be proactive not reactive!
Research
As a start up, you would’ve looked at market patterns, supply and demand, and emerging markets to help you develop your vision into your business. This doesn’t stop once your established, in fact it is just the beginning. You’ll need to monitor many external factors that may effect your business, for example ;
- Market Volatility
- Political Changes
- Technological Developments
- Global Economy
Which ones effect you will depend on the industry you are in, your investment sources, and revenue streams. Looking at these areas will help you to plan and complete financial risk assessments to help you manage your finances.
Focus and Independent Thinking
The ability for you and your team to shift focus in line with changing markets, demands, and technologies is pivotal if you are to be at all flexible. You should therefore encourage, and embrace a culture of creative thinking. Your team need to be able to step up and think on their feet to achieve the business goals even when the chips are down.
Flexibility and Success
A successful business will adapt and evolve as a result of difficulties faced. It will bring people into the team who buy into it’s culture and have a proven track record of flexibility within the workplace. A flexible business works with it’s clients to suit their needs, it will be adaptable and allow for development within it’s infrastructure.
Ask yourself;
- What you need to be fully flexible in the current climate?
- Are you wondering if you can claim for expenses such as implementing new technology or training costs to help your business develop?
- Concerned that turbulent times may not allow for pricey new hires who could be the key to growth?
Book your no obligation advice meeting with Avanti, (08000) 388 799, we can help move you and your business forward.
Modern accountants with traditional values for flexible businesses.