The 5 Imperatives of All Business Survival Strategies
These 5 little words helped my business to survive the 2020/21 crisis.
I have one word of encouragement for you if you’re a business owner in the travel and tourism sector, or the events industry, or the restaurant industry, or in any of the countless other industries that have been adversely affected by this devastating crisis:
You have my admiration.
You deserve to be respected because you are playing this game on the hard mode.
I am also playing this game. Despite the fact that the last two years were not the best year for business, some aspects of my business improved. And some new habits appeared to be fruitful.
One is to compare how other entrepreneurs handled difficult situations. Something that is well described in this book. I wanted to emulate their success and learn from their mistakes.
Then I came across Scott Belsky, a successful company founder who talks about how to be a better entrepreneur. To this day, there are more than 10 million people on the platform he founded, Behance. In his speeches and book, he speaks about a very interesting axiom.
A single sentence, with five imperatives, sums this axiom:
Begin, Survive, Improve, Complete, and then, Replicate.
This led to him starting his own company, selling it for $150 million, and becoming Chief Product Officer of Adobe Systems Inc.
In this article, I show you how his ideas and those of other entrepreneurs helped my company and how it can help yours too.
What Does Business Survival Mean
Business survival is the ability of a business to develop, persist and grow in a competitive market environment. (Does “competitive” applies to the global situation in 2020 and 2021? Well…)
It refers to the capacity of a business to remain profitable, and thus continue to operate, despite economic or social changes that would otherwise negatively impact it.
Business survival is essential for businesses to have the resources they need to meet customer needs. They secure these resources by…