Spring 2020 has been tough for everyone. So why is resilience in business so important? When forces outside our control make things more difficult, it’s crucial that we survive. For a small business owner or freelancer, this may be a challenge. But by cultivating resilient business practices from the start, we can be prepared for the unexpected.

To foster resilience in business practices, you may want to begin with your personal life. What’s your gut reaction when things don’t go as planned? If you’re not good adapting to change and the ups and downs of life, you should seek help with this in business. Hire a coach or delegate the responsibility within your team.

So how can you create a more resilient company?

Make Real Connections

Having a reliable business network is particularly important, especially for a smaller business or solo entrepreneur. If you need advice or resources, your connections will be there. Make sure these relationships are healthy by reaching out regularly. Offer to help when you can. Keep in mind that helping other business owners doesn’t have to involve free goods and services – it could jut be a referral or check-in that makes all the difference!

Learn From the Past

What have you done wrong in the past? Be honest. Nobody is perfect. If you take action to prevent making mistakes again, you’re growing more resilient. You can also look at other businesses owners that have made mistakes and learn from them. Perhaps they didn’t even make a mistake, they simply reacted to a bad situation improperly. Take note of this for your own benefit.

Have A Plan for Everything

Think about what could go wrong and create categories like natural disasters, economic recession, fire, robbery and more. Now you can add worldwide pandemic to the list. Then go through the list and make a contingency plan for each category. This may seem pessimistic but think of it as having a first aid kit in your home. If you’re prepared for the worst, you can move forward with confidence and success.

What should the plan consist of?

• Chain of command – who does what in the event of a disruption?
• Essential functions – what are the most important things to keep going during this time? Prioritize your key process and define them.
• Physical sites – can you operate from home if something happens to your business’ location? If not, think of alternate locations like coworking spaces or pop-up shops.
• Communications – how will you communicate to your various stakeholders? Consider our team, your network, and your clients and customers, and create messaging plans to stay in contact.

Share With Your Team

Communicate all the steps of each plan to your team. You may want to create a binder or folder within the cloud to keep the details, so anyone can access it and stay updated on the plan. Don’t have a team? If you run your business by yourself, consider verbalizing your plan to a friend or connection. They may have some good suggestions for you to consider. It will also help you stay accountable.

You will be on your way to success by following these guidelines. Instead of imploding during hard times, you’ll be able to stay afloat by practicing resilience in business. Find an expert to help you, if necessary, and your preparation will pay off in the long run.