Small-business owners by nature must juggle a myriad of roles and manage a diverse set of challenges on a daily basis. In the midst of a cost-of-living crisis, small-business owners are also navigating changes in customer behaviour, available resources and manpower that threaten to impact their longevity.
As a leadership and executive coach, I have witnessed small-business owners undergo profound mindset shifts by embracing a holistic approach to decision-making and problem-solving that enhanced their day-to-day operations. A holistic mindset is a way of thinking that creates a whole, integrated picture and highlights the interconnectedness of the multiple dimensions that make up that picture. It is an approach that considers the whole, interconnected system before you make specific decisions and take action.
Below are the top four benefits I’ve witnessed small-business owners experience who develop and maintain a holistic mindset.
Improvements in navigating challenges and decision-making
A holistic mindset leads you to consider the broader business context and illuminates more creative and sustainable paths forward that address all aspects of the situation. Take a store owner who is facing declining sales and customer complaints about a poor checkout experience. An owner with a holistic approach wouldn’t just focus on the checkout experience but would reflect on and review the whole customer experience. This data gathering may help her to see that the issue is bigger than the checkout experience and that changing aspects of the store layout, staff training and customer service will have a greater impact.
More effective prioritisation
A holistic approach also makes for more effective prioritisation as the ability to zoom in and out allows you to clearly see what is most important and the impact resource allocation decisions will have on all areas of the business. Take a software development company that has a range of clients of different scale and scope and always has multiple ongoing projects with pressing deadlines. The team regularly fnd themselves overwhelmed and often unable to meet client expectations.
With a holistic mindset, the small-business owner approaches this challenge initially by analysing the specifc issues and how they interrelate. He takes a step back and considers factors like project complexity, client importance, resource availability and long-term business goals. By doing so he is able to see where the bottlenecks are and what needs to be prioritised in operations and client management to streamline and better manage the workload.
More business adaptability and innovation
Embracing a holistic mindset fosters adaptability and innovation within small businesses, enabling you to anticipate and respond to change with agility. By understanding the broader context of the industry and market, you can identify opportunities at the intersection of different disciplines and create innovative solutions.
Imagine a family-owned restaurant that has been operating for years and is now facing increased competition and changing consumer preferences. With a holistic mindset, the restaurant owner would step back and consider the broader context of their industry and market. By understanding the interconnected nature of their business, the owner might recognise that simply sticking to traditional menu offerings and marketing strategies may not be enough to stay relevant and competitive.
With this holistic view, the owner could explore innovative approaches to adapt and attract new customers. They might analyse customer feedback, market trends and emerging consumer preferences to identify opportunities at the intersection of different disciplines. This may involve experimenting with new technologies or collaborating with local food producers to re-engage with the community and differentiate themselves. By adopting a holistic mindset, the owners encourage innovative thinking that can adapt and grow the business with resilience in today’s dynamic and fast-changing business environments.
