Shrinking budgets mean growing opportunities. As belts and budgets are tightening across every business category, we’re all faced with how to do more with less—less money, less time, less people. While it’s not ideal—we love beefy budgets—it can actually provide focus and creative thinking, if you’ve got the right attitude and the right people on your side.
Tight budgets are like tight jeans, hard to get into but they’ll make your assets shine.
The truth is, the big budgets of the past often encouraged a lot of wasted money, time and effort. Smaller budgets mean that decisions are made more carefully and working relationships need to be stronger. All contributors must pull their own weight and be willing to go above and beyond.
How do you make your assets shine?
- Make sure you’ve got your aces in their places. Shift roles, shift responsibilities. Engage with new partners that are willing to do the same.
- In the words of Mulder and Scully, “Question everything.” Often businesses get lost in how things have been done before and forget that innovative thinking belongs in every part of every organization.
- Focus. Make sure your vision of what is truly necessary is clear. Clear all unnecessary clutter—in your thinking, in your processes and in your expectations – and get back to the basics of why you are doing what you do. Why does your business exist? Get back to your truth.
Smaller budgets make everyone embrace their entrepreneurial spirit.
There’s a spark, an energy that comes when stretching yourself and pushing your limits that simply can’t exist in times of abundance. Good work still happens, it just doesn’t come with the same rush as creating great work when the odds are stacked against you.
Seek out partners and opportunities that bring out your entrepreneurial spirit. And get ready to amaze yourself.