Business Planning In Times of Economic Uncertainty
As a business coaching and consulting agency, we continually witness small businesses react with trepidation in times of economic uncertainty. This is an easily avoidable mistake! Whether it’s a recession or a time of economic prosperity, knowing your business’ financial position is an integral first step to planning for growth. A firm understanding of your situation will enable you to make the best decisions possible for igniting results-driven movement within your company.
At Grow Ignited, we empower business owners to put people in the right positions for success. We truly get under the hood to examine your business operations and help owners fill the gaps until they’re equipped to move forward on their own. This could mean helping with tasks like coordinating payroll or streamlining your invoicing process. That’s what truly sets Grow Ignited apart – we’re more than just a coach, we’re an invested consultant and partner.
“What we do for businesses goes beyond self-awareness and emotional intelligence. While those are important considerations for operational success, we’re also examining the hard numbers and projections – and that’s what sets us apart.”
-Andy Shepherd, Owner, Grow Ignited
One of the most valuable lessons for every business owner to learn is that peace and prosperity come from not letting the economy dictate your business strategy. Know your position, then be ready to pivot and take advantage of opportunities.
Knowing when and how to pivot is Andy’s specialty. If you don’t know your company’s financial position, you’ll miss out on what opportunities you could capitalize on. In Andy’s famous words, “You can’t manage what you don’t measure.”
Measuring For The Future
Grow Ignited looks at a company’s past history to predict and project its future. Many business owners claim to do this, but we take it a step further to incorporate other variables such as seasonality, holidays, trends and other common denominators that may affect a business. All this is done with our exclusive dashboard.
At Grow Ignited, we’ve developed our own software program that measures this statistical information. We then advise on the next steps.
For instance, if revenue is down and payroll is up, does that mean it’s time to layoff people or hire a salesman? Or should you actually be increasing your marketing spend? We’re diving into all of these scenarios to determine the ideal. We help you answer questions like:
- What will my insurance costs be next year as my company grows?
- Is it time to hire another trade technician or add a salesman?
- Can I afford to grow my office space this year?
- Should I invest in new software or just bring in an operations manager?
“These are the questions business owners are asking us everyday. Rather than rush to an instinctive reaction, our data provides the pathway to a calculated response.”
-Andy Shepherd
Our Exclusive Tools Can Help
In business, it’s not all about the dollar. Numbers are one piece of the puzzle and bookkeeping is a big part of what we do. But it’s the context of revenue that matters – culture, staff, trends, holidays, etc. We coach our clients on how to capitalize on the wins and pivot during a loss.
Rather than focusing on a rhythm of highs and lows, owners should instead look into triggers and causation. When measuring data, many numbers can fall well within standard deviations, causing businesses to assume things are running as projected. But our software system has built-in parameters to identify high and low swings, at which point we can assess the why behind the fluctuations. We then find opportunities at the high levels, and replicate those during the lows.
With the tools we offer at Grow Ignited, you get to see where you’re going before you get there. As a result, your business is recession proof through trends analysis.
If you need help quantifying those highs and lows ahead of time, reach out to Grow Ignited. You can sign up for a complimentary consultation and speak to Andy Shepherd directly. It’s time to have the tools that empower your team to grow your business today.