So, what does 2019 hold? If only the batteries in my crystal ball weren’t dead, I could tell you. But I have been doing my research and talking to experts and here is what I have gathered about 2019:
- Confidence is down. This may be because of the dysfunction in Washington, the economists predicting a recession or even that thought in the back of our minds that says we are due for a correction. Regardless, this has impacted confidence which is impacting hiring decisions, equipment purchases and investment in general.
- Unemployment is still low and will remain low for the remainder of the year. Most business owners are having a hard time finding the right personnel to fill their open positions. This has impacted company growth, company productivity and morale of the workforce overall.
- Industries are evolving so there are opportunities to move into new markets. Maybe there is an idea that has been percolating within your team and now is the time to move on it. And keep in mind that other companies are in similar situations so they may be more open to new ideas and approaches.
- Re-evaluate technology. We have become so dependent on technology that we can’t imagine living without it but now is the time to evaluate what aspects are working and what aspects aren’t. Use technology to further your business or your life but be intentional about how you use it.
Based on all this, I have come up with a list of what you can do to ensure you have an overwhelmingly amazing 2019!
- Schedule a strategic session with your management team. Think about where you want to go and how you want to get there. Resurrect those initiatives that have been on the back burner that deserve attention now.
- Task the sales team to go meet with current customers. Ask for feedback on performance, areas for improvement and then ask them WHY they do business with you. The answer may surprise you and you can leverage that information for future customers.
- Start sharpening your tools. More than likely, you team has been running full speed ahead. Many “should be dones” have fallen by the way side. This is a great time to start working on these projects. This includes enhancing processes to reflect current or best practices, updating work instructions, or addressing gaps in your cross training matrix.
- Enhance communication. Don’t assume that your employees know the direction you are taking the company – remember they can’t read your mind. Share with them your vision, strategic plan and long and short-term priorities. And then keep sharing – the more they know about the direction the company is going, the more likely they will follow you.
- Discover your hidden gems. Are there people whom you sense are under-utilizing their skills? In nearly every organization I work with, there are people who aren’t using their skills to the best of their ability. This may be because they are in the wrong position, that they have been in the same position for too long or they work hard and fly under the radar. Empowering the under-utilized is one of the best ways to enhance productivity.
Need help with implementation? I’m just a call away. The companies I have worked with realize a ROI of up to 10 times their investment.