It’s hard to believe that we have less than 60 days left in 2022! Where has the time gone? To the history books, that’s where! 

Oh, how I love history. Not everyone shares my love, in fact, not many. I’m not sure why, there’s so much to learn! So many mistakes could be avoided by having a good understanding of the past. 

Take, for example, some recent history of the last three years. In November 2019, many business conferences were being lined up for the coming new year. All had borrowed the catch phrase of “2020 vision” or some other derivative of this, as if the new year was going to provide new and greater insight. 

Little did any of us realize the magnitude of what lay before us in the ensuing months. Of course, 2021 was just an odd extension of 2020 in some ways, but a light was growing at the end of the tunnel. 2022 brought a new hope of diminished Covid numbers, but then quickly also introduced the challenge of an overheated economy riddled with inflation, a terribly performing stock market and rising mortgage rates. 

So, as a lover of history, what’s one to make of the last three years? Ok, I get it, too broad. Let’s narrow the historical focus to business only. What should those of us who have to meet a payroll be learning from this brief account of history?

Here are some of my thoughts:

1. Your employees will make or break you! Treat them well. The employment uncertainty of 2020 and then the great resignation, slow quitting, and WFH (work from home) dilemma that followed has many old school, unadaptable employers scratching their heads. Figure this out. There’s no silver bullet, get help if needed. A business coach can help here, so can an industry peer group. Seek help.
2. Cash is still king (with a little k!) Pay attention to your open accounts receivables, keep a cash reserve for unexpected expenses or circumstances, keep at least three to six months of expenses in cash, if possible. Start with one and build up from there. Take advantage of grants where available and applicable
3. When possible, do business with people and businesses that do business with you. This is such an easy gesture, but I am always amazed at organizations that don’t take advantage of this practice. It also has always been a frustration of mine in dealing with many local governments and other non-profits. We should all want our tax and charitable giving dollars to stay local rather than going out of our region and state. Let’s keep the money closer to home.
4. Find ways to collaborate with other businesses. Become a member of the local ______ (you fill in the blank.) We all need each other! 
5. Stop worrying about who gets the credit. I never minded paying huge commission checks to salespeople and giving them awards, etc. A rising tide lifts all boats. Who out there needs to learn from this lesson?
6. Take your customers calls/ emails. Always. Return their calls/emails. Always. Your job is to serve them. They will keep you going in good times, and the not-so good times.
7. Don’t be afraid to tell someone “No.” “No, not interested. No thanks, you can take me off your list,” etc. If you are in sales and business development, you know exactly what I mean. A good sales and business development person knows that most deals are made well after the eighth contact, and with the preponderance of information out there today, it might possibly take double that to win some deals. I know we can’t and shouldn’t respond to every unsolicited request for an appointment, etc. But if a prospect makes an initial inquiry and later is no longer interested, the right thing to do is to let the other party know by a simple, “thanks but I am not interested any further.”
8. Sales still cover a multitude of sins! Your organization needs new sales, no matter who you are. No matter how successful your business is/was, if you decide to just take care of your “base,” the beginning of the end has begun!
9. Innovation is the key to longevity. New processes, new applications, outsourcing, insourcing, new products, etc. Find ways to innovate, but not at the expense of your customers and your people.
10. Have faith. You were not meant to live this life without it. Figure this out. Seek the wise counsel of someone you trust if you need help here. The Good Book says, “What will it profit a man if he gains the whole world and loses his soul?” No business, or anything else, is worth that!

Finally, history says that those who don’t learn from it are doomed to repeat it. Let’s break the strongholds of past mistakes. Let’s forgive each other where needed and learn the lessons we need to learn from history! 

God bless you and yours!