If you want to get an edge in business, then you need to anticipate the unexpected at work. Yes, there will be things out of your control that happen. But with some careful thought, you can lessen their negative impact.
This is a different type of strategic planning and one that is focused on making sure a curveball doesn’t cause you to lose valuable time and money, if the unexpected happens.
Without a crystal ball, how do you prepare for these challenges? Start having some “What if,” conversations about things that could happen. Use these tips to start the process:
Unexpected Staffing Change
While you may walk around your office and confirm that none of your key staff have any plans to leave, there’s always a chance they may suddenly disappear. Injuries and family illnesses happen and they can take someone out of the office for an extended period of time.
Also, a spouse or a partner might receive a once in a lifetime career opportunity in another part of the country. It’s an offer that can’t be refused.
In either case, someone you rely on is gone suddenly. Are there people in-house who can perform the missing employee’s duties? If no one has been trained, then you could be in for a rough ride, as a replacement could be weeks away.
Take the time to hold periodic cross-trainings in your business. You may also want to consider whether you have internal talent that could step up to fill the position.
The more you think about these things ahead of time, the less likely they will become disruptive.
Unexpected Loss of a Supplier
Another way you can anticipate the unexpected at work is to consider what would happen if an important supplier suddenly shut down. Do you feel confident you could quickly find a replacement?
In today’s world of mergers and acquisitions, it’s not unusual for a company to be bought and then have a division shut down. That division may be a big supplier for your operations.
While you may have no intention to change suppliers, survey the marketplace today for possible replacements tomorrow. You may also decide it’s smart to protect productivity by having several suppliers for the same things.
Unexpected Loss of a Big Customer
If one customer makes up a significant part of your business, then you need to consider what you’d do if they left you. This separation may have nothing to do with quality or price.
A decision may have been made, at an out-of-town level, to go with another firm or perhaps the work you perform will now be done internally.
If you haven’t considered widening your customer base, then your business could face serious financial challenges, if something changes. Resist the feeling of comfort that comes from the big account that you assume will last forever.
Now may be the time to secure long-term agreements with your top customers, to ensure continuity. While you may make less money off these deals, you’re assured of having the business down the road.
Unexpected Opportunity
While many scenarios, where you anticipate the unexpected at work, are about negative things, you should spend some time thinking about good things that can happen.
What would happen if an opportunity to double your business walked through your door? Define the steps you’d need to take. Could you take on the challenge or would you watch the growth go to a competitor?
Thinking about how your could approach this scenario also protects you from accepting an opportunity that seems great but actually won’t help your business much in the big picture. In some cases, you might even lose money.
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