On the Edge of Discomfort by Tina Zawila

Over the last few weeks, we have heard various stories of some businesses (and even some individuals) experiencing financial distress with the recent downturn in the economy.   Whist this is never a pleasant experience, it's important to make prompt decisions and take appropriate actions to improve your position as best you can.

When I was enjoying a yoga class this week, the instructor said "you should be at the edge of discomfort to get the most benefit out of this stretch", and how many times have you heard the quote "no pain, no gain" in respect to improving physical performance?  

Maybe we should consider this in terms of our business or financial performance?

If you are in financial discomfort (or dare I say pain), or your business isn't performing as you would like it to, you may need to change your thinking to look at this as an opportunity for growth and consider how you can build or improve your business as a result of this experience?  

Maybe you need to carefully review all fixed costs and overheads - are there any opportunities to trim excess or negotiate a better deal with your suppliers?

What about sales strategies to improve your top line?  Are there opportunities for different products or services for your clients/customers that are more relevant to this economic cycle?  

Great businesses that withstand the test of time, take advantage of opportunities even in the tough times.  Or dare I say, they become great, because of the tough times they have endured!

In fact, I would suggest that if you are in your "comfort zone" and things are going along without much disruption or any discomfort, then quite possibly you are missing opportunities for improvement and future success.

Remember the magic happens outside of your comfort zone!

If you need help leveraging off the discomfort you may be experiencing right now, call the professional team at Sothertons on 49721300 and let us help you identify opportunities to improve your financial position.