Accomplish More.
Juggle Less.
Everything you need to transform your work.

© BELAY. Made with ♥ from the BELAY team.

Apple Podcasts

Spotify

Google Podcasts

Stitcher

About This Episode

The market always evolves. While the pandemic has created additional financial pressure for most businesses, it also rendered some business models obsolete or struggling to hold on while serving a shrinking market.

In this episode, we’ll talk about how to navigate a significant loss in revenue so your business can survive and soon return to the place where it thrives.

1. Make adjustments quickly when you start losing revenue.

Don’t overreact and make drastic changes based on one bad month, but do make sure you’re making the small changes that might save you a lot of heartache in the long run. Take a look at what you can cut back on or readjust easily without affecting your people.

2. When revenue drops and looks to continue on that trend, it might be time to pivot.

Take a look at how the construction industry pivoted in 2008, or how the restaurant industry embraced takeout during the 2020 pandemic. To survive, you might need a new product or outlet. Be willing to research the possibilities and take that risk.

3. The people who helped you get to where you are now might not be the people who help you get to the next season.

And there’s nothing wrong with that! Sometimes, it just makes more sense for both parties to move on. There’s no hard feelings and nothing to be ashamed of – it’s just a new season. Don’t let an irrational sense of loyalty cause you to eventually do harm to your business and employees.

Apple Podcasts

Spotify

Google Podcasts

Stitcher

One Next Step Podcast on White Smartphone

Recommended For You

124: How to Tackle the Social Media Problem in Your Business

There’s a major difference between recognizing that social media is important and having the knowledge and skills you need to use it effectively. If you’re struggling to find the time to devote to social media, or you want to take your strategy to the next level, it might be time to hire a social media manager. In this episode, BELAY VP of Marketing Amy Appleton talks with Solutions Consultant Theresa Summerlin about the different ways that hiring a social media expert can help your business’ marketing, sales, and customer service. Theresa also shares some practical tips for leaders who are managing their own accounts and discusses a few key signs that it might be time to start outsourcing this piece of your business.

123 Bonus: How to Spot Hiring Red Flags Early

In this Bonus Next Step, Tricia and LZ share some of the key red flags to look out for to determine if someone isn’t right for the job.

123: DNA of a Great VA

What makes up the perfect virtual assistant? What should leaders be looking for when they are hiring this important position? In this episode, Tricia and LZ will share the key attributes that make up a great VA, from their decades of experience in interviewing, hiring, and being them. They’ll leave our listeners empowered and equipped to find the right fit for the job, knowing exactly what to look for in a great VA.