As we speak the Vendee “Round the World” yachtsmen are heading for the troubled waters of the southern oceans in the same way as businesses owners and managers in the UK are anticipating stormy economic conditions in 2009. The big difference for the yachtsmen and women is they are geared up for the challenge and many have experienced stormy seas before.
The difficulty for many businesses is they are not geared up for a recession and many of their management team have no experience of these difficult economic circumstances.
So what can business owners learn from the yachtsmen?
Not only do the sailors want to survive the ordeal but they also want to emerge as winners after the event and this is obviously true for businesses. It is very much about how to survive and thrive in a recession.
The sailors are used to making quick and decisive decisions when conditions change.
They have the right amount of sail up for the storm. Too much sail means a broken mast or capsize (disaster!) but no sails up means they are left to be tossed about by the wind and waves with no steerage and no chance of making it to the calmer waters. The right amount of sail means they will be one of the first to get to the other side of the storm and be in good shape to take advantage of the better conditions.
They always have a number of plans already in place and are able to move to a plan B or C quickly depending on the sea conditions and winds.
They have the right crew aboard who are prepared and committed for the fight against the elements.
The skipper has delegated the right tasks to the right crew member and is confident it will be carried out correctly and immediately.
The skipper and crew have a passion and a desire to survive and succeed no matter what is thrown at them.
So as a business owner or manager – how will your business handle the challenges?
Have you chosen the best course?
Have you prepared a plan B or C to be ready for any sudden changes?
What level of Marketing, Training and Sales (sorry about the pun!) is appropriate for your business?
Too ambitious could be a capsize and disaster but too little ambition could mean your business being tossed about by the elements and be out of control with the competition sailing straight past and stealing your market share.
Have you got the right crew on board and are they fully committed for the fight?
Have you clearly identified everybody’s roles and responsibilities and are you fully committed to the appropriate delegation?
What changes do you have action to ensure your business is the lean and effective business that will not only survive the storm but be in the best position to take advantage of the upturn when it comes?
All business owners and managers need to be able to answer all of the questions above. To simply batten down the hatches and hope that the business will survive is a “reactive” approach but those businesses that take a “proactive” approach by making the strong decisions about levels of marketing, training and sales promotion will be the survivors and winners.
So who can business owners talk to about these questions?
For many it can be a lonely experience because they may need to make decisions about their team and the business without involving their managers. With a professional business coach the owner/manager has the opportunity to discuss and plan in a confidential manner with experienced input from a third party.
Have YOU answered all the questions posed in this article?
Have YOU taken the opportunity to discuss this with a third party?
Is NOW the right time to talk to an Ology Business Coach?
Sir Walter “Raleigh” Gregg
Sailor and Ology Business Coach Extraordinaire!
Contact your nearest Ology Business Coach now.
Written by Walter Gregg, Ology Coach, Scotland
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