If you spent years growing your small business, but recently concluded that you would have to close your doors, you may be wondering what to do next. From taking good care of yourself to organizing your finances, being proactive can help you get back on your feet. Here are a few steps on how to recover from your small business closure and fix your eyes on the future.
Low product levels and cash flow issues don’t always come from an accounting underlying issue – sometimes it’s an operational issue.
Tim in marketing suggested that the company run a month-long sale on your most popular product. You happily agree and start allocating funds to run a successful ad campaign to promote your sale.
Two weeks in, your sale exploded, but you’ve run out of your inventory.
Are you holding your team back by lack of strategic leadership?
A few weeks ago, I published a series of articles about what I called “duct tape leadership.” It talks about fixes and patched-together solutions that project teams end up using. They use these solutions when their work is out of alignment with the organization’s priorities.
But, the reality is that many of the challenges faced by project leaders come from gaps with strategic leadership. They have little to do with the size and complexity of their projects. That is to say, challenges have everything to do with the executive leaders and sponsors who decide which projects to pursue.
I read a great book recently from NYU business professor Scott Galloway about how the markets are shifting due to the Coronavirus.
In “Post Corona”, Galloway notes that COVID-19 is behaving like an accelerant to existing market conditions, rather than triggering any wild change of its own. I don’t agree with everything Galloway says, but I thought this “accelerant” theory was an interesting observation. It is fairly well supported by what we have observed at Reconciled.