As we near the end of 2022, I want to say “Thank You” to the organizations who entrusted RED Day with their training and consulting needs. I believe companies can move the bar when leadership and management are willing to be vulnerable and open to trusting that—perhaps—there may be a better way, a better tool, or a best practice that can be applied to their current communications or processes.
RED Day was established and began providing services in 2011, yet 2022 was the first year fully 100% invested of my time. This year I made some vast improvements in conducting discovery meetings to vette out underlying problems. I discovered that taking time to discuss the issues from multiple perspectives, including input from CEO, COO, CFO, Operations Manager and Lead Supervisor, as well as folks in the trenches who are meeting with customers first-hand or directly involved with the supply-chain—allows for a big picture view that many within the organization do not see (or have not taken the time to immerse themselves in). This type of evaluation gives deeper insight and offers multiple solutions on a much more concrete level. That doesn’t mean you’re doing it wrong now. It just means I have been fortunate enough to provide some surprising insights to the C-level team without betraying the confidences of the frontline workers. THIS is how trust is established.
My wish for 2023? I want to help inspire you to position your organization for success through leadership development, focus on improving culture, and empowering your team members—the executive leadership, the operational managers and the workforce teams. This will help build resiliency for your company into the new year. And we very well MAY NEED resiliency.
As if COVID was not enough pressure, 2023 seems likely to take us on another bumpy economic ride. BUT—You’ve been here before! And you’re still here—so you did something right!! So my advice as we collectively head into 2023?
Use this time to strengthen your team. Use this time to show your employees that YOU WILL BE AROUND FOR THE LONG TERM! Use this time to commit to better operations, processes, and communications than those currently in place. Show your team you can TRUST them. Get their input and empower them to look at new ways to reallocate funds so that cash flow stays fluid. THIS IS YOUR NUMBER #1 FOCUS for the beginning of this year.
- Keep your cash flow strong. Cash is king. Reduce spending, sell off old inventory, yet look for ways to keep your workforce intact. Ask THEM how to make it work. What corners can be cut. Who is willing to take layoffs, cutbacks, work part-time. How to conserve cash, etc. You might be VERY surprised at the ideas generated. I always refer to the approach taken by Bob Chapman, President of Barry-Wehmiller, a $3+B global manufacturing and technology supplier, privately held since 1885, and committed to taking “a profound care for the people” who work for their organization. Definitely worth investigating #TrulyHumanLeadership from a man who has purchased 80+ companies and gone from assets in the millions to the billions with very few layoffs along the way. They are, in my opinion, the epitome of successful business who is committed in word and deed to living out an employee-centric focus.
- Talk to your banker. Especially for small organizations, having the trusted relationship with your bank is critical. Be upfront about where you are, your concerns, and what your forecasting & projections are. They may—or may not—be able to help. However the time to find out where they stand IS NOW.
- Look for ways to Diversify. Diversify. Diversify. Diversify. I can’t say it enough. Go through your Client list—and your Customer list. Where are the gaps? Where can you improve—and how? Evaluate your industry. Where are you saturated and where can you take your core competencies and expand perhaps into a parallel industry. Review the products and services you offer and see if there is opportunity to expand. Diversification allows you to be flexible and fluid.
…AND if 2023 doesn’t give us the surprise we’re anticipating? Look at #1, 2 and 3 above anyway. They are great basic, common sense business practices for all organizations.
In the meantime, as we finish out this year, take time to give thanks for all the ways in which we are blessed. For all of the great lessons which 2022 provided. Hug those close to you in a meaningful way and show your appreciation for all they have done this year. A little Thank You often comes across in a big way. See you in the New Year!…
OH—and let me know if you want to meet! I’d love to connect and learn more about your organization!