In the era of pandemics and lockdowns, resilience is the key to coping with the changing demands of business and the office.
The Workforce Institute recommends that employees cultivate resilience by learning certain skills.
1. Regulate emotion. Facing difficult customers and coping with customer satisfaction demand that employees learn to stay calm.
2. Control your impulses. Learn to moderate behavior when you face challenges. Don’t press ‘send’ impulsively. Learn not to burn bridges with inappropriately emotional reactions.
3. Learn to look carefully for the root causes of problems. Work out what you can change or control and what you can’t. Put your energy into the things you can control.
4. Believe in yourself. Address setbacks–or major work changes–by seeing yourself as competent to succeed.
5. Practice balanced optimism–the ability to realistically assess what can go wrong or deter success while remaining optimistic.
6. Understand what others think and feel.
7. Adaptability. Willingness to change in the face of adversity or circumstance.
From a psychological perspective, resilience also means adopting positive emotions, according to Psychology Today. That may mean you have to seek out the things and situations that have made you feel positive, happy, engaged, or grateful. Even old movies or sitcoms might put you in that mood. Exercising or dancing could help you feel joy. Completing a home project might help stir a sense of competence.
How to avoid hiring the wrong candidate
Poor recruitment practices can cost a business a lot of money. Here are some tips for weeding out unsuitable candidates and finding the best person for the job.
Be clear about your expectations
Your job posting should be as precise as possible. Include the qualifications and experience you require from the candidate, the tasks the job entails, and, if applicable, the duration of the employment contract. This will help to limit the number of applicants and attract the talent that truly meets your company’s needs.
Verify candidates’ qualifications
Watch out for “job hoppers”
Hiring and training new staff is costly, so be on the lookout for people who switch from one job to another on a regular basis. Frequent job changes and gaps in candidates’ resumes are possible indicators of a lack of commitment.
Once you find the person you want to hire, consider instituting a trial period before you fully bring them on board. At the end of this interlude, both you and the new hire will be free to continue or terminate the collaboration.
Do you have what it takes to be an entrepreneur?
Global Entrepreneurship Week, which runs from November 16 to 22, consists of a collection of events hosted around the world to inspire people to launch or grow their own business. If you want to be an entrepreneur, here are some indicators you might have what it takes.
• You’re always eager to learn. If you want your company to grow, you must be willing to constantly learn more about the industry and how your business can adapt. This means listening to your customers, seeking mentors you can learn from, and networking with other aspiring entrepreneurs.
• You’re passionate about the work. It could be years before your startup makes a profit, and you’ll have to work long hours in the meantime. You need to truly care about the product or service your company offers in order to maintain your motivation. A love for the work you do will also help you deal with challenges, stress, and setbacks.
• You’re willing to take risks. Even if low startup costs allow you to launch a business with few risks, eventually you’ll need to take a few leaps. This might involve purchasing an expensive patent or piece of equipment, investing your personal savings to grow the business, or leaving a stable job to become a full-time entrepreneur.
• You’re not discouraged by failure. Few companies find success on the first try, and it might take several attempts to get your business off the ground. Setbacks are inevitable, so you need the tenacity and resilience to bounce back. If you want to grow your business, you must be willing to learn from your mistakes, embrace changes, and seize new opportunities.
To find out how you can participate in Global Entrepreneurship Week or plan your own event, visit genglobal.org/gew.
4 tips for rebuilding your business after the pandemic
Nearly all small businesses have suffered in the wake of the COVID-19 crisis, but many are capable of recovery. Here are four tips to help businesses re-emerge following the pandemic.
1. Determine the damage
In order to recover, you’ll first need to assess the impact that COVID-19 has had on your business. Update your financial statements and compare them to last year’s figures. Remember to factor in other types of loss such as employee layoffs and a reduced marketing budget.
2. Revisit your business plan
3. Look into available funding
Now more than ever, you need to spend money to make money. As you create a recovery budget, find out whether your business qualifies for government funding that will help you bounce back. Financial institutions may also offer more lenient loans to help struggling entrepreneurs.
4. Create a realistic timeline
It’s important to keep in mind that your business won’t recover overnight, and you won’t be able to implement all your rebuilding strategies at once. Establish your priorities and track your progress to ensure you’re investing in the right areas.
Strategies to help you recruit fresh talent
If you want your business to thrive, it’s essential to hire competent and hard-working employees. However, attracting the right candidates is easier said than done, especially if you work in a competitive industry. Here are some common strategies that companies rely on to successfully recruit top talent:
• Create an engaging and informative “Careers” page on their website
• Post descriptive job offers on numerous platforms including job boards and local newspapers
• Strengthen their employer brand to appeal to the desired pool of candidates
• Encourage employees to make referrals and share the company’s posts on social media
• Refine their application and interview processes to more effectively identify quality candidates
While these strategies require some time and effort to implement, they’re a worthwhile investment in your company’s future.
Using social media to market
When you think of Facebook or Instagram, it is not immediately clear that the gargantuan is local, not just global.
Every community has an online presence of citizens that use the website to communicate with their local friends and family, as well as out of town folks.
So a small business can successfully market to its regular customers online.
The key is getting people engaged and getting people to share information about products and services.
– Announce new products with photos using local people and local locations.
– Put your unique product ideas out there.
– Ask questions that involve your product: Use local people in local pictures or just a good photo.
– Do a short video of your new take-out appetizer.
– Show how it’s made with a video.
– Post photos of your sales associates and delivery people.
– Show your products and services in connection with holiday and obscure special days.
– Create and announce virtual events.
– Have a photo contest.
– Create video tutorials.
– Parody other videos.
– Post inspirational videos.
Small business responds to Covid crisis
So, now what?
Their stores closed. The offices are vacant. Their income limited.
Small businesses had to answer the question of what they can do right now.
And, for the most part, they did.
About 92 percent of small business owners reinvented themselves, according to Small Biz Trends.
Digital technology was the answer to many small businesses.
– 58% created new online delivery channels.
– 40% created a new virtual service.
– 36% made a new offline delivery channel.
– 31% created a new product.
– 19% worked for a new customer group.
Small restaurateurs and stores selling unique goods all could have had a website presence, but many owners were too busy to make it happen before the coronavirus crisis. When lockdowns happened, they had to set those up.
Virtual services are not just for schools. Trainers, chefs, music teachers all have tried to involve local customers in virtual classes. While they might find new customers, the same services also find they compete with existing businesses online.
For some, new products have helped. Some small manufacturers began making the things most in demand: masks and sanitizers, for example. Breweries made sanitizer. Pillow companies made masks and medical scrubs.
For some, it has worked. Fifty-one percent of businesses that did a pivot say they have increased business against forecasts. But small businesses are still facing issues with skills and staffing for new skills, as well as a lack of money.