When tough times hit, entrepreneurs often don’t have a safety net to fall back on. With the global coronavirus pandemic forcing businesses online and closing doors left and right, business owners are feeling the sting. In fact, for the first time, the federal government is offering solopreneurs unemployment benefits to help them get through the next few months. The life of an entrepreneur is fulfilling, rewarding, exciting, and uncertain. You have no guarantees for success on your journey to launch a successful business. However, there are ways to plan for an uncertain future. You may not be able to prepare for every event, outcome, or change in your industry, but you can utilize a few strategies that can make your future a little bit more certain.
Be open to change.
Being an entrepreneur means you must be looking for ways to raise the bar on what you are offering to your customers and clients. To thrive, you must be a moving target. One of the key ways to identify areas of change is keeping an eye on changing aspects of your industry, community, and in the world. Doing so gives you the chance to uncover new business opportunities. Also, listen to your repeat clients and customers. If they are asking if you offer a particular service that you don’t have available right now, that could be a clue as to what you can offer them next.
Take action to battle uncertainty.
Consider this: what you are doing today for your business influences the success you receive tomorrow. You cannot control all the pieces that impact your business success. However, you can waste a long time obsessing over what could happen and what you cannot control and, as a result, miss out on opportunities that are right in front of you. Instead of being inactive, take action. If you are uncertain about your existing leads or worry about not bringing in new clients, take action. Pursue new opportunities, network with other businesses, secure working capital, or seek out ways to address existing problems in the world and make a plan of action.
Be consistent with quality.
Don’t get so sidetracked by looking for new opportunities that you miss out on taking care of your existing customers or clients. If you don’t ensure that your product (or service) is high quality, it won’t matter how many possible leads come in. Your quality builds the reputation of your business. It builds trust with your customers, your employees, and your stakeholders. Don’t be hesitant to ask your clients and customers for feedback too. Reach out to them and liseten for ways that you can meet their needs and expectations.
Unfortunately, you are not able to control every facet of your life, let alone your business. However, if you keep the focus of your business on producing high quality products or services, being willing to adapt to change, and taking action, you are further ahead at meeting those moments of uncertainty.