If COVID-19 has taught us anything, it is that businesses must be adaptable in times of economic challenge. The world will keep on turning but businesses come and go all the time. Changing is essential all the time, but times of hardship exacerbate the need for change.

But how can one possibly hope to build a successful business when it seems like the rest of the world is struggling? It won’t be easy, and it won’t be pretty, but here are a few helpful tips.

Keep the Big Picture in Mind

When it comes to business, creating overnight success is about as common as a unicorn. Successful businesses focus on making incremental growth over a long period of time. Even when times are tough, keeping your eye on the big picture should be the main goal.

Perhaps your business is experiencing a bit of a downturn in tough economic times. That’s not to say the issue should be ignored, but the big picture should always be at the forefront of the mind.

Reassess Staff

Payroll is typically one of the largest expenses in any organization. When times are tougher and budgets are smaller, make sure that the money you are spending is being spent wisely. That’s not necessarily saying “fire people,” but a review is necessary.

When times are tough, there needs to be an assurance that everyone is pulling their weight. Everyone has to be held accountable and work together. You may find that there is no way to release someone because of the value they hold, and that is a good thing.

Look at the Small Stuff

Yes, keeping an eye on the big picture is essential, but for small businesses, those small things can have a major impact. Take a look at the things that are impacting the bottom line and see where changes can be made.

It does not have to be a major change, either. Something small may be the shift needed to keep a business afloat even in tough times.