What “Baby Steps” can your business take to ensure it not only survives, but thrives?
There is no doubt we are in uncharted territories, but we have been here before and got through it. This time may be different and require different strategies, but we will survive this and then many of us will thrive again.
It’s difficult not to immediately go to panic mode and make changes without thinking them through or to be paralyzed with not doing anything, so take “Baby Steps”. The first “Baby Step” you can take is look within and ask yourself if you are living in fear or ready to make some choices?
To help you on this journey of discovery I want to introduce you to the Drama Triangle and the Empowerment Dynamic. In simple terms they represent Blame or Choice.
The diagram above is the Drama Triangle or affectionately known as the DDT and has been around since the 1950’s. The story of the Persecutor, Rescuer and Victim is in many of our movies whether it is Batman rescuing Gotham from a series of villains, or it is Robin Hood rescuing the poor people by stealing money from The Sheriff of Nottingham. Unfortunately, in the DDT one can rotate through all 3 roles and never get out. Now it is playing out the Covid 19 as our persecutor, or villain and we are the victim and we are looking to our leaders to rescue the problem. Unfortunately, this has created fear amongst many, which is only natural, but the paralysis has bought the economy almost to its knees. We can’t come up the cure for a virus but for now this is the new reality and we have to work out what “Baby Steps” we can take to start moving our businesses forward. Currently many of us are reacting to the virus, but what if we make “Baby Steps” to adapt to this new norm and its longer-term implications?
This is where The Empowerment Dynamic comes in or better known as TED and beautifully explained in The Power of TED by David Emerald. He talks about how “we create the whole of our own reality” and we can fulfill the roles of Creator, Challenger or Coach (in top right illustration) and look to take Baby Steps to move our respective businesses forward. In the Empowerment Dynamic in addition to the Creator there is the Coach and Challenger. I spend most of my business time alternating between these two to allow my clients to create their own, hopefully positive, reality.
What are come of the key differences between the DDT and TED.
• The victim feels powerless and not in control whereas the Creator focuses on outcomes, how can I do it
• Rescuer focuses on being the pain reliever for poor you, the coach supports and assists by asking questions. How will you do it.
• The Persecutor focuses on the problem and the Challenger provokes constructive action. You can do it.
Make no bones about it. We all spend time in the DDT feeling we are not good enough and reacting to adversity. BUT the more we can take self-responsibility and take those “Baby Steps,” the sooner we can adapt to the current challenges.
It is also fair to say that different industries have seen a greater negative impact on their businesses than others and not everyone is ready to move forward but I ask you to consider your own position and ask yourself these questions:
• Realistically can my business survive, because not all will. If not, is it better to act now with the goal of retaining your personal assets or not?
• What is my short-term vision? How can I pivot my business to increase my on-line options would be one of the key questions?
• How can I preserve cash? Redo all your budgets to reflect projected revenue with a goal to getting to break-even or better asap. It is better to make deep cuts now than drip feed small cuts over the next few months. You will need cash to invest in new opportunities. Hard to do but remember in times like this “Cash is King.”
• For the younger entrepreneurs ask yourself to do I have the experience to combat these challenges. If not seek out a more mature coach/advisor who can be your coach and challenger.