In an era when unprecedented events are the norm, businesses must be ready to adapt. Real-world events — be it a global pandemic, economic recession, geopolitical unrest or war — can disrupt operations, supply chains, customer expectations and employees' well-being overnight.
Over the years, I've guided my company through the challenges of numerous real-world events that were not only complex but often unpredictable.
From this, I've developed a skill all entrepreneurs must embrace: the ability to steer through crises. This ability often paves the way for innovation and stronger relationships while driving the business forward.
So, here are some tips I've learned from years of experience navigating real-world challenges — strategies that have helped my company, ButterflyMX, not only survive but thrive in uncertain times.
Related: 10 Strategies for Businesses to Navigate and Thrive in Times of Crisis
First, you must understand the full scope and impact of the events affecting your company. In other words, look beyond the immediate effects on your company to assess the broader implications for your industry, customers and employees.
For instance, during the Covid-19 pandemic, the sudden shift to remote work had ripple effects that extended beyond workplace logistics, influencing everything from employee productivity to customer engagement.
At ButterflyMX, we transitioned to a fully remote workforce, a change that initially seemed........