Benefit each week from the many regular conversations I have while mentoring businessowners across the nation. Every Monday, we boil down all these conversations, then we take stock of 3 easy-to-deploy steps you can put to work when you own a business, small or medium-sized, in any industry. How can you be part of the conversation? Hit me with a short email.
Across the US, we’re seeing government overreach ramping up again. But on a sporadic basis that’s very dependent on where you are or what business you’re in.
First, the political scene. Most of you have probably noted that California is essentially back on lockdown. This diversity of geographic restrictions has made it impossible to keep up with what’s going on where. But I can tell you on my local level, an area praised as being “open for business,” the Sheriffs have suddenly changed their minds. And become insanely draconian in arbitrary enforcement of all pandemic regulations, making it possible to have your business wiped out overnight.
Clearly, it’s going to be a long flu season.
Now, the economy. Even if you aren’t planning on ever being listed on the stock market, pay attention. The NASDAQ has implanted a Woke policy going forward, where any companies seeking to list must meet diversity requirements. Since the NASDAQ is used by younger companies seeking funding, it’s clear this is a corporatocratic way for the megacorporations to lock out competition. Or to ensure it’s playing by the same restrictive rules. We can’t have any upstarts jockeying for power because they’re more competitive, can we?
Finally, cultural with one more economic note. The labor market, having never recovered, is slipping again. That doesn’t bode well for the general atmosphere. Add in that vaccine cards and registries are being unrolled in the US, with talk about enforcement through business, and you have a rather dystopian picture taking shape.
3 Key Actions You Can Take to Strengthen Your Business This Week
- Talk to the other businessowners in your area
If you haven’t seen yet, businessowners in various parts of the country are starting to say “no more.” Of note, you’ll see that they often receive large support from their communities. And you don’t have to guess, there’s probably a business opportunity here. However, the authorities are enjoying their time in the limelight by making examples of individuals. That’s more difficult when you have allies in your business marketplace who will stand with you.
- Analyze your transaction chain and your payment processor
While it’s unlikely that banks and transaction processors are going to start cutting businesses off tomorrow, I don’t think we’re very far from this reality. That might sound a little paranoid, but it has precedent, and it most certainly seems to be the best leverage out there. For that reason, I would recommend shortening the number of entities involved in transactions and to have a backup plan if you get locked out of any.
- Determine which parts of your business processes can be jettisoned
We saw during the first round of lockdowns what was needed for businesses to rapidly streamline. And because we’re likely going to face renewed pressure to jump through hoops, it’s best to have a plan to get leaner and to turn on a dime. Consider mapping out your business processes for a visual investigation of how they’re interacting and how they can be changed.