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This post was first published by Jamie Calvetti on LinkedIn

The obvious question to follow up my last article is “What happens when business isn’t going well?” My answer: “Beef up your resilience tactics.”

Putting Them All Together

To summarize, doing any of the following three things can help keep a business going strong:

Don’t put all your eggs in one basket
Do something different
Do something better
But really, recovering from impending failure sometimes takes doing all three.

Keep the Future in Mind

You can nip bleak business forecasts in the bud by incorporating these three resilience tactics into a refreshed endeavor. Don’t be blinded by current successes and don’t be naive enough to believe your business, as-is, can survive forever.

Rebranding (who else is going to miss those Budweiser Clydesdales?), a new sister business, or an industry innovation (like the revolutionary next generation of sous vide food products)… These are all ways to save your business when just employing a single resilience tactic won’t cut it.

You can also turn to experts who are great at what you are not good at. We can’t be a jacks of all trades, even of related trades, so reach out to your network. If you’re struggling in one area of your business, hire for what you don’t know how to do. You lose no pride in admitting something is not within your skill set. There is much more to be said for assembling a smart, multi-talented team.

Invest to Avoid Last Minute Scrambles

You might think that building a new branch, rebranding or assembling the right talent are time consuming, costly and downright scary. They are. But none of them are more costly than losing your business and life’s work.

That’s why it’s important to get started before you really need them and you no longer have the option of implementing them. Take Mistica Foods for example:

When Quantum’s fate was sealed, there wasn’t much time for clients, employees or owners to find a new solution. Mistica Foods was very quickly founded. Without Quantum’s financial troubles and a fresh face, Mistica provided an easy out (for some).

Walas’ business includes all three resilience tactics, sure. But the conditions in which Misitca was formed didn’t rescue a failing business. Quantum itself is no longer around and it certainly didn’t happen without casualties.

What are some ways you’ve been resilient?

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