Tom Murrell from 8M Media recently interviewed Justin Davies from Emergination for the Media Motivators Podcast on the topic of Darwinism in Business: Survival of the Fittest.
Justin shared his insights on how to get ‘business fit’ and gives a rundown of the 5 things that business owners need to do to help their businesses survive and thrive during Covid-19.
Here is a summary of the podcast:
Be business fit – get on a fitness kick for your business.
- Make sure your mental state is right
- Stay positive – clients are attracted to people that are positive. Your staff are looking to you. Positivity helps in
whatever you are doing. Have a good music playlist to fire you up. Listen to good podcasts. Avoid sensationalist news – and social media conspiracy theories - Protect yourself with good habits – exercise, meditation, journaling, have good routines and eat well
- Stay positive – clients are attracted to people that are positive. Your staff are looking to you. Positivity helps in
- Get better with your time
- Work out your priorities
- Track your time
- Review where your time is going – find business improvement opportunities
- Hard work – focussed work – is rewarded
- Get the current state of your business clear
- Get your strategic plan current, valuable and action-oriented
- Cashflow forecasts – know where you are, that you can meet payments, and do check the impact of investing in your business
- Tighten up on your sales forecasts
- Check on staff performance and what you expect in utilisation, satisfaction and sales
- Use trigger point budgeting – determine the triggers to take action based upon what your business is doing and decide well ahead of time the action you will take
- Go hard on marketing and sales
- Now is not the time to turn it off. It is the time to reassess what is working and what isn’t
- Keep the communication up – call, email, LinkedIn messaging – be personal and considered
- Get close to customers – check how their needs have changed
- Get help
- Two types of help:
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- Specialist: very specific on a challenge eg a legal agreement, or social media. Skills needed to add value for a specific period of time – narrow focus is their value
- Generalist (wide range of skills across all aspects of business – like your GP) – deep long term relationship, strategic – broad problem solving is their value, and know when, how and who to bring in when necessary
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- Different types of help: Mentor, business coach, business advisor, advisory board, board
- Two types of help:
You can listen to the podcast below:
- Darwinism in Business: Survival of the Fittest (Media Motivators Podcast)
If you would like to find out more about Emergination’s business advisory and coaching services, contact us for a free 30-minute discussion.