Why Business Stability is Key to Success: A Coach’s Perspective
In your business, little can be gained without first achieving lasting business stability. It sounds obvious when all is going according to plan, until something takes your team by surprise, presenting either unique challenges or exciting opportunities. Both have a way of complicating priorities, shifting focus away from basic stability and towards matters of either business survival or rapid growth – but it will all be for nothing without a stable foundation first.
From Business Survival to Long-Range Profitability
Business stability isn’t averse to pursuing growth, and it certainly isn’t a luxury reserved for those who’ve overcome matters of economic life and death. Rather, it’s an essential component of establishing consistent, replicable systems that will reduce chaos, improve priorities, and make core business functions more effective. Far from being separate from dedicated profit-boosting strategies, focusing on your company’s foundations will not only bolster revenue, but it will also do so more consistently over the long term.
Consider, for example, if a business health check reveals that your company is in good health, but you don’t consider your local economic conditions all that good (which only 29% of small businesses do). Does it make sense to expand your products and services, spreading resources thin, when you may need those resources readily available to weather worsening trends? It would make more sense to take stock, identify what you’re doing right, and master those activities completely. If the time truly is ripe to expand in the near future, you’ll only even be able to do so effectively if you’ve shored up your foundations, to begin with.
Business Stability Means Stronger Foundations
If you’re seeking ways to strengthen your company’s baseline metrics – and especially if business survival is on your mind – consider a non-radical approach to transforming your company, and focus on business stability. We’ve found that it’s only by focusing on the basics that small businesses discover core advantages they have over even some of their biggest competitors. For guidance steering your company to the stable foundations needed to penetrate deeper into your core market, contact us, and schedule a complimentary action coaching session with AMB Performance Group.