{"id":3050,"date":"2020-10-19T12:15:39","date_gmt":"2020-10-19T12:15:39","guid":{"rendered":"http:\/\/testsitetwo.biz\/?p=3050"},"modified":"2020-10-19T12:15:39","modified_gmt":"2020-10-19T12:15:39","slug":"how-to-spot-your-business-vulnerabilities","status":"publish","type":"post","link":"https:\/\/testsitetwo.biz\/?p=3050","title":{"rendered":"How to Spot Your Business Vulnerabilities"},"content":{"rendered":"<body><p><\/p><a href=\"https:\/\/michaelhyatt.com\/how-to-spot-your-business-vulnerabilities\/\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"560\" height=\"344\" src=\"https:\/\/i0.wp.com\/michaelhyatt.com\/wp-content\/uploads\/2020\/10\/GettyImages-494328037-560x344.jpg?resize=560%2C344&#038;ssl=1\" alt=\"How to Spot Your Business Vulnerabilities\" align=\"left\" style=\"margin: 0 20px 20px 0;max-width:100%\" loading=\"lazy\"><\/a>\n<p><span style=\"font-weight: 400\">Deep roots aren\u2019t enough to survive storms. You need flexibility. To start, identify where you need to adapt by proactively identifying your vulnerabilities.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The coast is a gusty place. You may own windblown oceanside family photos. Perhaps you\u2019ve ventured to the beach to beat the heat. But even if your knowledge of beaches is confined to television, you\u2019ve probably noticed that palm trees are quite at home near the sea.<\/span><\/p>\n<p><span style=\"font-weight: 400\">It can be a bit daunting to walk underneath these tall, often thin trees when the wind starts really blowing. The fronds above rattle. The trunk creaks. Sometimes, a tree bends so far you think it might snap. And yet, these trees bear the wind far better than oaks and pines and cedars. Such sturdy behemoths can snap during severe storms. As they crash down, they expose deep, complex root systems that once anchored them in place. When the dust settles, it\u2019s the palm trees that remain\u2014still swaying in the breeze.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The key, of course, is flexibility. Rigidity in the face of winds eventually gives way to increasing pressure. Palm trees bend without breaking.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This flexibility is a posture entrepreneurs learn to master early on. And you can learn it, too. The key to successfully adapting in the face of changing winds is your ability to proactively identify vulnerabilities in four specific domains.<\/span><b><\/b><\/p>\n<h3><b>Suppliers<\/b><\/h3>\n<p><span style=\"font-weight: 400\">This is the domain where you receive the raw materials needed to accomplish your work. If you work in production, these raw materials are obvious. You can\u2019t print books without paper. You can\u2019t make pizza without cheese.<\/span><\/p>\n<p><span style=\"font-weight: 400\">But even in the knowledge or services industries, it\u2019s important to take a closer look. You can\u2019t clean houses without cleaning supplies. You can\u2019t work on the back end of a website with slow internet. You can\u2019t sell vacations to exotic places when borders are closed.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To identify vulnerabilities, ask:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What outside resources do we rely on to accomplish our most important work?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How do recent changes impact these suppliers?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Are there alternative methods of attaining the necessary supplies?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Are there alternative strategies that could decrease the impact of supply losses on my business?<\/span><\/li>\n<\/ul>\n<h3><b>Operations<\/b><\/h3>\n<p><span style=\"font-weight: 400\">This is the domain that represents the product development and client services you offer. It\u2019s the place where people are writing the books, preparing the pizzas, cleaning the houses, writing the code, and so on. It includes any necessary back-office support and probably includes the bulk of your team.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To identify vulnerabilities here, ask:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What internal resources do we rely on?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What about recent changes might hinder our day-to-day operations?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How have the roles of my team been impacted?<\/span><\/li>\n<\/ul>\n<table bgcolor=\"#fefefe\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\" style=\"margin:0 auto 1.5em;border:1px solid #b7b7b7\" class=\"gnt_tweetable\">\n<tr>\n<td bgcolor=\"#fefefe\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"15\" width=\"100%\">\n<tr>\n<td width=\"15%\" align=\"center\" valign=\"top\" style=\"font-family:'Helvetica Neue',Helvetica,sans-serif;font-size:100px;line-height:1;color:#676c6e\">\u201c<\/td>\n<td style=\"font-size:30px;font-family:'Helvetica Neue',Helvetica,sans-serif;font-weight:100;line-height:1.2em;color:#707070\" class=\"gnt_tweetable_tweet\">\n\t\t\t\t\t\t\tThe key to successfully adapting in the face of changing winds is your ability to proactively identify vulnerabilities.\n<p style=\"text-align:right;font-weight:bold;font-size:20px;color:#3eaadd;margin:5px 0\" class=\"gnt_tweetable_cite\">\u2014MICHAEL HYATT<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td bgcolor=\"#b7b7b7\" height=\"1\"><\/td>\n<\/tr>\n<tr>\n<td bgcolor=\"#f8f8f8\" align=\"right\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"5\">\n<tr>\n<td valign=\"top\"><\/td>\n<td><a href=\"https:\/\/twitter.com\/intent\/tweet?source=tweetbutton&amp;text=The%20key%20to%20successfully%20adapting%20in%20the%20face%20of%20changing%20winds%20is%20your%20ability%20to%20proactively%20identify%20vulnerabilities.%20https%3A%2F%2Fmichaelhyatt.com%2F%3Fp%3D48714&amp;via=michaelhyatt\" title=\"Share Quote on Twitter\" target=\"_blank\" style=\"color:#16abdc;text-decoration:none\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/michaelhyatt.com\/wp-content\/themes\/michaelhyatt\/images\/rss\/tweetable-twitter.png?w=152\" alt=\"Tweet Quote\"  style=\"margin:10px auto;max-width:560px;max-width:100%\" loading=\"lazy\"><\/a><\/td>\n<\/tr>\n<\/table>\n<\/td>\n<\/tr>\n<\/table>\n<h3><b>Customers<\/b><\/h3>\n<p><span style=\"font-weight: 400\">This is the realm of sales, marketing, and customer service. It\u2019s the place to consider what your customers need, and how their methods of meeting those needs are shifting right now. It\u2019s also the place to consider your outward-facing team and the changes to their work.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To identify vulnerabilities here, ask:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How has demand for my product changed?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What are my customers\u2019 most pressing needs?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How have recent changes impacted my customers\u2019 ability to access my product?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Will marketing spend have to escalate or deescalate?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What changes can my team make to best meet our customers\u2019 needs?<\/span><\/li>\n<\/ul>\n<h3><b>Environment<\/b><\/h3>\n<p><span style=\"font-weight: 400\">The environment is the world beyond your business. It includes governmental mandates, the state of the economy, critical infrastructure and the social environment. While completely outside of your control, the environment can have a big impact on your business.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To identify vulnerabilities here, ask:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What recent legislation impacts my business?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How do current social concerns affect the appeal and relevance of my product or service?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">By what criteria should I evaluate my pricing in light of the current economic reality?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What research or information do I need in order to make the most informed decisions?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">When you take a lesson from palm trees, your business is more likely to survive unexpected storms. Reassessing your position by identifying vulnerabilities is vital for increasing the flexibility of your business. But knowledge alone is not enough.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Learn how to identify emerging opportunities and respond with action in my new book, <\/span><a href=\"http:\/\/entrepreneurswillsavetheworld.com\/\"><i><span style=\"font-weight: 400\">Entrepreneurs Will Save The World.<\/span><\/i><\/a><\/p>\n<p><\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"<p>Deep roots aren\u2019t enough to survive storms. You need flexibility. To start, identify where you need to adapt by proactively identifying your vulnerabilities. The coast is a gusty place. You may own windblown oceanside family photos. Perhaps you\u2019ve ventured to the beach to beat the heat. But even if your knowledge of beaches is confined &#8230; <a title=\"How to Spot Your Business Vulnerabilities\" class=\"read-more\" href=\"https:\/\/testsitetwo.biz\/?p=3050\" aria-label=\"More on How to Spot Your Business Vulnerabilities\">Read more<\/a><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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