Stop shaking your head about the uncertain economy. We’re all in the same boat. The goal is to make darn sure that, no matter what happens, you are still afloat when the turnaround comes around.
Remember, some people made money in the Great Depression. That’s because they refused to take a sky-is-falling attitude.
What to do:
- Look for bargains. They’re everywhere. Just make darn sure you can afford to capitalize on them.
- Go lean; stay lean. At least for the time being, distinguish between “necessity” and “luxury.” Lose the luxuries and your odds of winning the survival game will increase dramatically.
- Be proactive. Don’t sit around waiting for the government to rescue you or for that long-shot prospect to act. Adjust your inventory, your product line, your prices, and your sales strategy to today’s tough-economy realities.
- Track down big customers/clients and remind them how much you can do for them. Relationships still sell, so go out and sell relationships.
- Remember, your customers/clients are nervous, too. Work with them, reassure them. But most of all, make sure that, if they are in trouble — if there is a chance that they might sink and stick you with their unpaid bills — that you protect yourself and make sure that your boat does not go down with theirs.
The bottom line: Pay attention to business like never before. The sloppy, dumb and unimaginative may not survive. Don’t be among them.
Work hard. Protect your business. And, yes, keep having fun. — jri
“The team that makes the fewest
mistakes usually wins.”
– Don Shula
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