Innovation, Optimization, and Business Continuity

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Originally posted on LinkedIn.com/in/chipn

What direction are you leading your team in?

Recently I read that the U.S. is experiencing a significant jump in unemployment claims. Much of that is understandable given the recent decline in many businesses, concerns about how long this crisis may last, and the need for business owners and executives to protect ongoing viability. But, in the near future, business activity will resume, and it will be very important that businesses maintain a business pipeline and retain qualified staff to deliver their products and services.

Now could be the ideal time to challenge your team to focus on improving your business. Look at business processes and identify:

  1. What works well today?  Can you identify what makes it work so well? Simplicity, automation, and a lack of friction are typical attributes of effective, efficient systems and processes that positively impact any business.
  2. What could be improved and why? Specific examples and real data will help quantify the impact and support prioritizing follow-up activities.
  3. What is missing today?
  • Good ideas have likely been raised in the past, so why not revisit them?
  • What are competitors or businesses in other segments doing that could be helpful?
  • Brainstorm and consider something completely new that could help your business.
  • Start a list, describe the needs and benefits, provide specific examples, and then estimate each idea’s potential impact and time to value.
  • Take the ideas with the greatest promise and estimate the cost, people/skills needed, and other dependencies to see how they stack up.

Another option is to create or update Business Continuity Plans. Now is a perfect time – while everything is fresh in the minds of your team. This will help in the future, and you may also find several useful ideas for the coming weeks.

For example, do you have enough documentation for someone who isn’t an expert in your business to take over with a relatively short ramp-up time? How will you maintain quality and control of those processes? Are your plans stored in a repository that is accessible yet secure outside of your organization? Do you have the processes and tools to collect documentation and feedback on things that did not work as documented or could be improved? Are your Risk Management plans and mitigation procedures up to date and adequate?

Investing in your business during this slowdown could have many benefits, including maintaining employee morale, enhancing employee and customer loyalty, retaining employees and their expertise and skills, and increasing sustainability and long-term growth potential.

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