This is not an advice column. It’s not one size fits all. Questions are a magnificent way to understand where your practice is at now and to start to identify where it might go. Finding the best fit for your practice, its expertise and circumstances.
The current circumstances
Let’s begin with what is going on right now and what might you do about it.
- What are the specific challenges your practice is facing due to the economic downturn?
- What actions have you already taken to mitigate the impact of the downturn?
- What are your practices core strengths and unique selling point? Can you leverage them further?
Resources and capabilities
There are probably things you’re yet to think about or address. You should do so immediately.
- What resources (tangible and intangible) do you have at your disposal? That might be people, financial, expertise, reputation, finances, etc.
- Do you have have partnerships or alliances you might be able to strategically leverage?
- How is your team doing? Are you fully utilising their skills, knowledge and expertise?
Market and client needs
Let’s start to think of your existing market and new ones.
- What are the needs and challenges of your current and past clients? Can you meet them better?
- What are the emerging trends, or needs, your practice could address in the market?
- Where are the sectors in the market that are less affected that your practice might be able to serve?
Adapt and innovate
In challenging times you need to be agile and adapt.
- Where are the new markets you might consider offering your services? How might you do that?
- Are there innovative services or tech your practice might be able to leverage to offer as a new service?
- Where are the gaps in the market your practice is well placed to turn into an opportunity through your expertise and skills?
Finances
You’re probably thinking about this already, and if not, you should be.
- Where are the other potential revenue streams you might not have considered yet?
- Where are the opportunities to finesse your spending and income?
Marketing
Marketing can be a slow burn. If you haven’t started ramping up your marketing game you should do so immediately.
- Who are your key current and past clients? Can you ask them if they need your services or if they know of anyone else that might?
- Are there marketing channels, strategies or tactics you’ve identified but are yet to try?
- What’s the most effective way you can demonstrate your value proposition to potential clients?
Culture
Culture eats strategy for breakfast.
- How are you addressing and looking after your team’s wellbeing during this challenging time?
- How are the leaders being supported?
- How might you foster a culture of adaptability and resilience in your team?
Planning
Make good use of the down time to do some rigorous planning for the future. Yes, you have a future. You got this.
- Identify your long term goals for your practice, imagine you reached them, what steps did you take to achieve them?
- What are the key milestones and metrics that you’re using to identify your progress and success?
- What is the flexibility and adaptability you can introduce into your practice that will allow you to better respond to uncertainty in the future?
Vision
You should have a vision for your practice. If you don’t, it’s worthwhile finding the time now to work on it, it can help guide you through the downturn. If you already have a vision you might want to revisit or adjust it to account for the downturn.
- What’s the vision you have for your practice when things pick up? Whats a step you can take today to get there?
- How do you see the evolution of your practice and how will it adapt to changes within the practice of architecture?
- What’s the legacy you’re building?
The beginning
Endings are new beginnings.
Hopefully these questions might provoke some new ideas, insights or approaches to take in trying time.
You got this.
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