Survival of the fittest

The business environment in and around Conway is, as in other areas, living through a rare economic period. It is certain that two critical elements are present – economic downturn and growth possibilities. Yes, despite today’s economy, we are finding that some businesses are growing. At the same time, because of the downturn, we find others struggling and close to failing.

Locally as well as nationally, the media continues to report stories of schools reinventing education, government rewriting health care, political parties restructuring themselves. We find government taking a fresh look at business every four years, yet our local business owners don’t have the privilege of waiting. They must respond quickly to the downturn. The business owner must react to the harsh reality of the marketplace immediately. It’s this reaction that governs the success or failure of the business in today’s economy.

Whether you own the business or you work for it, whether you plan to start a business or serve on the board of a business, you are a vital part of that business. It’s the way you react to the economy and how you approach the problems in your business that will spell out success or failure. If you analyze the growing businesses around Conway and how those businesses manage, you will recognize a strong self-image and an even stronger sense of pride. From the top of the organization to the very bottom of the organization, every one in the business projects a consistent behavior of success. Successful businesses are made up of successful people.

Often, slow growth or no growth happens when the owner or manager feels the business revolves around them. In this economy, it takes a team to build and project success. It’s not about individual effort. It’s about the total effort of every individual employee in the organization. It’s the ability of the owner to recognize the ability of each and every employee and to be able to delegate tasks to them, all the while encouraging them to contribute ideas and suggestions that will grow the business.

The biggest challenge today in business is the retraining of owners and managers. Owners and managers need to be more like trainers, mentors and coaches and develop the human potential of the organization. Everyone in the business gets paid for their productivity from owner to employee. Productivity is not just doing the job but it is the willingness of everyone to work towards improvement and growth.

We all recognize that the business must be profitable to survive, but survival of the business is not just about profit and turning a dollar. Survival is knowing where you’re going, how you’ll get there and communication, communication, communication! Survival is based on the future and a strong vision of tomorrow. This vision becomes reality when planning takes place and a strategic plan is developed in order to reach the future growth. Strategic planning needs input from all those involved in making the business grow. As the business owner, project your dream and your aspirations to every employee as often as you can. Get them involved so they can share in your dream. Grow together. And as your business grows, our community grows.

Contact Binis, the president of the Conway Chamber of Commerce, at www.conwayscchamber.com or at 843-248-2273.