Reinvent Your Business to Thrive in Turbulent Times
I. According to Pamela Mitchell, owner of The Reinvention Institute, this is the best time to start anew. She offers these tips on getting started: Identify your challenges and establish clear goals and objectives. Next, narrow your focus by making adjustments to one product or service; assess the results, moving forward from there. And finally, find a mentor who has also gone through a business reinvention and ask for insights and advice.
1: Back to the basics. Remember the principles you established when you started your company; rely on the fundamentals.
2: Be open. Consider operating across multiple industries and platforms.
3: Evaluate your team. Do your employees have the talent to attain the goals you’ve set for the organization?
4: Evaluate yourself. Conduct an unbiased assessment of your leadership. What are your strengths? What are your weaknesses? What do you need to do to lead your team to new heights?