How can Business Leaders Scale and Succeed? – EisnerAmper

by | Oct 18, 2022 | Business

As business leaders look to their 2023 goals and benchmarks, external economic pressures continue from all sides. This leaves many leaders feeling uneasy as banks tighten their credit standards, our supply chain remains fractured, commodity prices fluctuate and inflation continues upward. Along with continued equity market volatility, recruiting and retaining talented employees, regardless of your industry, also are major points of concern. 
When we feel uncertain, the risk of rash or reckless decision-making only increases. As such, it’s more important than ever to understand these external influences, how they impact your unique operations, and how to effectively pivot to adapt in 2023.  And as the calendar turns and we look toward the new year, I’ll cover some important themes business leaders need to know going into next year to increase cash flow, enhance profitability and be a difference-making influence in a positive way with employees. 
Stay Proactive  
I recently authored an article on a few questions business leaders can ask themselves to stay proactive during times of uncertainty. Because we can’t control external pressures, we need to double down on what we can control—how we both prepare and respond to them. In one situation with a family business client, they spoke about how they’re refocusing and targeting their efforts with one-hour weekly management meetings, with the goal of addressing some of the aforementioned challenges. Through these weekly mandatory meetings, they increased accountability and executable goals. Weekly meetings, when done thoughtfully, keep people sharp and focused. Who knowingly wants to be unprepared? 
By creating a standard cadence, they were able to maintain extreme focus and ensure nothing went more than one week without being addressed. For example, when the cost to ship their product to specific regions domestically increased fivefold and overseas tenfold, they were able to proactively work together and make decisions about when to ship in real-time. By focusing on communication and creating a consistent open forum, they found success during times of uncertainty and challenge. 
Get Ahead of Staffing Challenges 
Whether it’s for a small family office or a large multi-national enterprise, r …

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