Managers who approach tough economic times with a get-down-to-the-essentials attitude come out of a recession with renewed vigor and a jump-start on the good times to come. Patricia Berry provides 16 tactics to help you survive during the recession, while laying the groundwork for capturing greater market share when it’s over.
KEEP ON TRUCKIN’!
The economy hasn’t completely collapsed; it’s just harder to sell than it was a few years ago. There’s still business to get. Step up advertising, marketing, telemarketing — all front-end business activities. It’s important to hold on to your cash; however, don’t do the foolish things that let your customers forget about you. You need more customers, not fewer.
LOOK AT YOUR RESOURCES
Brainstorm how you can make a difference in improving results with each resource. Time, salespeople, and customer service people are your finest resources — use them to get better results.
GO FOR EXCELLENCE IN SERVICE
Get finicky about customers. Do whatever it takes to give legendary service. Be sure not only that your people are customer friendly, but that all systems are friendly, including distribution, accounting, delivery, and follow-up services. Search for the small things you can do better.
ABANDON COMFORT ZONES
Do and think things you’ve never done or thought before. It’s time to change! Old reflexes that used to kick in when recession loomed will have to be rethought. Get innovative, entrepreneurial, and forward thinking.
BELIEVE THERE’S AN ANSWER
Be convinced that others have won in all kinds of difficult situations and are still winning. You can, too.
REJUVENATE SELF-CONFIDENCE
In hard times, it’s easy to get down - and drag entire company with you. Be the leader you know you are. Sharpen up and shape up!
WORK ON A PLAN OF ATTACK
Wars are won in tents. Write down your goals and prepare an action plan, as if you were a general leading your forces into battle.
TRAIN TO PEAK PERFORMANCE
People are your No. 1 resource. Hold on to your cash in a down market, but not your training dollars. If sales are down, train your salespeople. If morale is low, make management training a priority in your plan of attack.
MEASURE PERFORMANCE
When you measure and provide feedback on performance, it improves. Frequent measurement in key result areas will boost morale and increase productivity. Appraising performance more often will accelerate improvement.
INTERACT WITH THE SALESFORCE
Hold daily meetings. If your outside salespeople don’t come into the office regularly, have them fax their daily schedules to you. Poor time and people management leads to a deadly disease: procrastination. Inspect what you expect.
CREATE A THEME
Here are some that I’ve used:
- Catch the Vision
- Catch the Fever
- I Had a Dream
- Rich or Poor
- When the Going Gets Tough, the Tough ...
Put inspirational posters and mottos on the walls, in the foyer – everywhere. Don’t let your people forget about their unlimited potential.
ACCEPT RESPONSIBILITY
Don’t blame anyone or anything. Blame drains you of energy. You need massive quantities of positive energy to manage manpower and morale.
KEEP YOUR EYE ON THE BALL
In most companies getting and keeping clients is the most important activity. Don’t let anything get in the way of this. Ask yourself throughout the day, 'Is this activity getting and keeping clients?'
STAY THE COURSE
That’s what Columbus did. His daily log through storms, mutiny, disease, and disaster repeated only one entry: 'We proceeded south by southwest.'
ADJUST
It’s easier to adjust to the hardships of a good living than to those of a poor living. Make the decision. You, the boss, need to be in the field networking and selling, just as you did in the old days. I gave this advice to the president of a copy machine company. He hit the streets for the first time in 15 years and closed a 60-machine contract in the first five days. Isn’t it easier to adjust to the hardships of a good living than a poor living?
HAVE A DREAM
Become a visionary! 'I was International Business Machines in my father’s garage,' said Thomas Watson.