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As a small business, we know how tough COVID-19 has been for every industry, especially small businesses. The new reality we’re all facing: the long-term impacts are just starting, and we have a long road ahead. We are all thinking not only about immediate business survival, but how to survive the long-haul. How we can ensure our businesses come out the other side intact and whole. There is one thing you might not be thinking of but should be: project management. Yes – you read that right. Project management is one of the best tools to help business survive tough/trying times. Read below to learn 3 reasons why:
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Efficient Processes
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To survive hard economic times, like those COVID brought, you have to become as efficient as possible. As a small business, you can’t afford to have duplications in processes or non-value adds. “Project management can help you hone existing processes to be more efficient and institute strong guidelines to manage new ones successfully.” (entrepreneur.com). It can help you identify the right processes to change or get rid of, so you become an efficient, well-oiled “machine.” The best part? This skillset will help you survive tough times and thrive in better economic ones.
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Improved Strategy
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Because we all have to be as efficient as possible, that also means we must make sure we’re being strategic in the right way. What this really means is that we are analyzing the right areas and thinking critically about our decisions. Project management helps make sure you’re really looking closely at all the areas of your business. Looking/analyzing the right areas allows you to build a strategy that not only helps with survival but with growth. Most importantly? It will work effectively and will help solve your actual business problems.
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New Skills
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To survive hard economic times, it is essential that you and your employees become more dynamic than ever. People go from wearing one hat to multiple hats, and flexibility is key. How do you do this? In short: by developing new skills. As we’ve talked about before, project management is one of the best tools to implement development. The skills you learn/develop will help make you more dynamic, more adaptable, and more prepared to conquer the challenges/roadblocks that come with surviving as a small business.
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Project management is extremely beneficial to all business. It is especially so for a small business like yours trying to survive hard times. The skills and techniques you gain from working with a project manager extends to all areas. It helps you improve your business; and makes you more sustainable and dynamic to survive tough times, like those brought from COVID.
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Interested in learning more about how project management can help you? Contact our team at Kim@QuantumMark.com today!
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