How to Turn Bad Times Into Good (At Least Better) Times

Business can be challenging, even when things are going well. You still have to address issues and the problems they create when they aren’t taken care of promptly. Some of these issues can be so catastrophic that keeping a positive mindset can be the greatest challenge of all—yet that doesn't diminish its value.

Managing Workplace Stress

The past several years have not been kind to businesses.

The global pandemic that shook the world was just the tip of the proverbial iceberg. Businesses also had to juggle how people bought their products or services, changes in the workforce and workplace policies, making the most of limited resources, changes in the global supply chain, and so on. Even just one of these many variables would be enough to make any business owner’s head hurt.

Yet businesses persisted, in part due to the changes that resulted from these circumstances.

Without the ability to go into a physical store, people bought curbside or online. Without the ability to go into the office, employees started to work remotely—at least part of the time—which many organizations still wrestle with today. Similarly, many organizations still suffer from supply chain shortages and inflation driving up their inventory costs.

Small businesses, in particular, have suffered seriously from these changes, as buyers are more likely to choose large online retailers over modest mom-and-pop shops.

So how does the modern entrepreneur in a post-COVID world stay ahead of their competition? As cheesy as it sounds, focusing on the good times can offer a profound benefit. With the right attitude, you can overcome the hard times and push onward, even when things get tough.

Let’s take a look at some of the ways you can foster a positive mindset in a not-so-positive world.

Remember Your Purpose and Drive

Sometimes fixating on the problems is counterproductive when you can instead fixate on something positive.

Think back to the beginning, when you first started your business. Do you remember what drove you back then? If you’re still operating in line with your purpose, you can still offer your customers what they are here for, and that’s a good thing. Remember, you sell much more than your services; you sell your business’ brand, which is more powerful than any negative setback.

Shift Gears to a Growth Mindset

Sometimes it helps to reframe failure and setbacks entirely.

When your business suffers a setback, don’t consider it a failure. Think about it as an opportunity to improve. Complaining might be appealing in the moment, but nobody truly wants to complain (or listen to it). Why not channel that energy into something productive, like addressing shortcomings?

Adjust as Needed

If a company can’t adapt to change—or worse, flat-out refuses to—it’s naturally going to be held back. Keep in mind that flexibility and being willing to adapt to changes in your market or industry are skills that you can foster and build up through repetition. Your business needs to be in the habit of evaluating how its operations work and whether or not they can be improved. This approach will naturally lead to your consideration of new technologies and solutions. When it comes time to implement a new technology, be sure to involve the whole team and collaborate to find the best solution for your business. 

You can build a resilient business, too, and it all starts by calling BNMC at (978) 482-2020.