We’ve talked about Startups and Scaleups over the past few days, now it’s time to think about a stable Microbusiness. This typically is an organisation with long term employees and a decent sized, happy customer base to whom they provide a quality service or product. They have no great wish or perceived need to change.
The snag is, things can change outside the company and other changes may be forced on the company. Someone might resign, the owner might retire, an important customer changes to another supplier, a key supplier goes bust, a rival produces a better / cheaper version of the service / product. The list goes on, of course.
As you know well, what we are talking about is resilience. If we look at the list below (used in other recent posts), there are some updates in italics that relate to this.
- Understanding market, market demand and competition. Markets change over time as do market requirements (eg ESG)
- Management skills - hard and soft. (Skills evolve and we can get set in our ways. ESG is also relevant)
- Finding / hiring / retaining the right staff. Succession planning
- Money and investment. Options change over time.
- Avoiding wrong new product / service. A product or service that was right yesterday may not be right today.
- Controlling growth. There is often an ebb and flow to be aware of and take account of.
As with startups and scaleups, these are questions / areas that should be looked at on a regular basis. As mentioned in other posts, techniques, processes and ideas to address these are typically a combination of training, mentoring and coaching – at least partly because we all learn in different ways.
A Group Coaching Programme can be beneficial as that brings the experiences of others into play - and that can really generate insights. It's also worth revisiting some areas about yourself as well. Our experiences and acquired knowledge can shape how we act - and we may no longer be in tune with current practices and requirements.
If you’d like to have a general chat around this area just go here: https://calendly.com/alr_coach/30min.
If you'd like to attend an intro call for our Group Coaching initiative please go here: https://calendly.com/alr_coach/group-coa.