Overcoming Adversity for a Stronger Business

by | Jul 28, 2016 | Sarah's Blog

As many of you will know, Coconut Creatives has been through a few changes over the last year. I’m a small business owner and, like many others, have faced adversity throughout the lifetime of my business. The key to overcoming adversity is to tackle it head on and not to let it phase you!

I have had to change and evolve Coconut a number of times over the last decade. Each time, I have taken a step back, evaluated the situation, put my best foot forward and done everything in my power to ensure that service continues as normal for clients whilst I rearrange the structure of the business. My business partners have changed twice over the last decade and, each time, I have come out of the other side with a business that’s stronger than ever!

As a small business owner, I am always conscious that I need to continually adapt my business to the current market in order to ensure that we stay ahead of our competitors and remain profitable. Part of being a good business owner is constantly evaluating and changing the way you do things or adapting your products or services to meet market conditions. Not many businesses remain the same throughout their lifetime. The demands of customers often change and many businesses need to offer something new to keep existing customers coming back for more and to attract new customers in new places.

Apple is a great example of a company that constantly changes in order to stay ahead of their competition and to keep customers coming back for more. Originally specialising in computers, we know that Apple probably wouldn’t still be around today if they hadn’t adapted to the ever-changing technological market place. Developing a portable music player, before moving into personal smartphones and tablet computers, Apple have ensured that they keep ahead of their customers’ demands. They release new versions of their software and hardware at least a couple of times a year and no matter how many iPods or iPhones they sell, they still manage to get customers queuing and camping over night for their next new product. Can you imagine a world without Apple? If Steve Jobs hadn’t had the foresight to adapt his business, there may now be a different front runner in the smartphone and tablet world!

When Directors and staff change, so too do the skills of the team which, in turn affects the services we can provide. As a business owner, I would highly recommend that you consistently evaluate your business and think about what you would do in any given circumstance. If the market changes, if your business partner decides to leave, you lose staff members or any other eventuality, how will your small business survive? In small businesses, the loss of one person or one change in the market or your customers’ needs can be colossal so think carefully about how you’re going to overcome any adversity.

At Coconut, we know that the franchise industry and the way that prospects discover, research and join a franchise is constantly changing along with technology and the online world! Not only does this affect the way our clients must do things, it also affects the way we, at Coconut must operate. We keep our finger on the pulse with franchise recruitment and keep our ear to the ground for any changes in the way franchisees are finding and buying franchises. At the moment, we know that online research is a huge part of the recruitment process so we’re looking at ways that we can diversify into the digital world! Watch this space for more on our new digital media products!

Rather than seeing adversity or challenges as a negative, I always see them as a positive and a way to regenerate my business and make it stronger and more attractive to clients than ever. As I look at our Coconut Team I am so excited at the opportunities that we are now able to explore and the future we have together. Don’t miss the chance to evaluate your businesses and seize the moment that is in front of you.