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As someone deeply involved in the business world, I am dumbfounded by the customary but inexplicable inertia and indecisiveness that infects New Zealand SMEs in an election year.
This phenomenon not only hampers business but also negatively impacts the overall economy.
Despite the pressures and uncertainties that elections bring, there is no excuse for succumbing to this inertia. It is essential to acknowledge that very little changes during this time. Prices, exchange rates, and technological advancements continue to shape the business landscape, regardless of election outcomes.
Many people argue that they need to see what the new government looks like before making decisions. However, this 'election year pause' can only set a business back.
Unpredictable and uncertain times demand a head-on, consistent approach. Waiting, and delaying decisions is not the solution.
In today’s rapidly evolving business world, companies must adapt swiftly to changes in technology and consumer behaviour, or they risk being left behind.
The market is flooded with overwhelming information and choices, making it easy for businesses to freeze and make no decisions. However, those who fail to make timely decisions will need help to catch up with the ever-changing landscape.
New Zealand businesses must learn to thrive in a dynamic environment. Unfortunately, the speed of decision-making is not keeping pace with the rate of change. People often feel overwhelmed, but trying to understand it all is impossible and potentially harmful.
To counter the tendency to freeze in the face of uncertainty, I propose three key strategies for businesses:
- Improve and expedite the decision-making process: Businesses should commit to making decisions promptly and efficiently instead of allowing discussions to stagnate. Leaving a meeting without a decision only leads to wasted time and inertia.
- Invest in education: To navigate the complexities of the modern world, businesses must expand their knowledge beyond their specific fields. Understanding digital transformation, political events, and economic trends is crucial for informed decision-making and sustainable growth.
- Embrace change: Rather than fearing or resisting change, businesses should develop an appetite for it. Change is an inevitable part of the business landscape, and those who adapt quickly will thrive.
As the business landscape evolves at an unprecedented pace, my belief remains steadfast. Consistency, coupled with adaptability, is the key to success.
I aim to empower organisations to achieve long-term goals and thrive in an ever-changing environment. We can successfully navigate the dynamic business environment by encouraging businesses to maintain their marketing and sales efforts during both good and bad economic times.
Talking about business during election year,
New Zealand SMEs must overcome the inertia and indecisiveness that hinder their growth. By implementing the strategies I have outlined and embracing consistency and adaptability, businesses can navigate the dynamic environment and flourish.
Remember, making swift decisions, expanding knowledge, and embracing change are essential for long-term success in today’s ever-changing business landscape.
For a free, no-obligation consultation, contact Assia by booking a time convenient for you at calendly.com/assia1/5-steps.
Set aside just 55 minutes and discover how a 5-Step Recession Proof Action Plan for Sales & Marketing can work for your business to go beyond survival into the stability of predictable B2B sales.
Assia Salikhova
Smarketing Lab Co-Creator,
developer of profitable B2B solutions to grow your business.
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