Coping with Recession – A Different Approach
Instead of being paralyzed by fear and the day’s headlines, get feedback on who’s doing what. Keep an ear out for which weakening competitor you can exploit by taking customers or standout employees. Access to capital is crucial these days and if you have it, you can take advantage of it.
Coping with Recession
I met with a business owner/client last week. He described his business outlook by saying, “I can’t see the bottom. 2009 will be about survival for my business.”
Planning for 2009 – A Different Approach
A Strategic Conversations exercise with employees is an inexpensive way to extract information and benefit from the knowledge that your employees possess. You can ask about how the company can perform tasks faster or better or cheaper, and where there are areas to improve.
Planning for 2009 – Does your staff know better?
With the backdrop of deep global recession, many companies may feel a good way to control costs is by terminating employees. This type of approach indicates that senior management thinks of employees as a cost, not an asset.
Time for a Market Check – Strategic Conversations
Make a market check. No, not a stock market check—if you check that again today, you’ll either want to curl up in a fetal position in the corner, or go home and make a martini.
Time for a Market Check – early 2008
Do you really know how these changes are affecting your business in the short- and long-term?
Reacting in Tough Times
Nationally, the manufacturers and distributors of high-ticket items like big boats and automobiles will surely suffer. Most small to medium-size businesses will tighten up and try to survive. More than likely, the ones that do will emerge leaner and stronger, ready to take advantage of the inevitable upturn in 2009.
Reading List: The Back of the Napkin: Solving Problems and Selling Ideas with Pictures by Dan Roam
This is a fun little square book with a cover that looks like (you guessed it) a napkin. It’s not the kind of book that you will read carefully, taking notes on each of the little hand-written figures and drawings that appear on almost every page. But you will be inspired by it. And, hopefully, it will influence the way you communicate.
Reading List: Groundswell: Winning in a World Transformed by Social Technologies by Charlene Li and Josh Bernoff
This is a great source for anyone looking to plan a Web 2.0 strategy for their own business.
Gather Data, Analyze, Develop Plans, Execute
If the feedback confirms that everything you’re doing today is perfect, for both 2008 and on into 2011, then congratulations. If not, it’s time to make your changes and execute.
