As many, many articles have discussed, riding out an economic downturn requires nothing short of a different mindset. During the month of February, job losses were 651,000, and the nation’s jobless rate haws hit 8.1%, the highest since 1983. In our previous post, I discussed five ways to help your organization move down the road towards becoming a statistic of the economy. Here I will offer five more ways to ensure your inclusion in history.
(Continued from part I)
6) Don’t reduce spending logically. Hold on to the nice, shiny things you’ve acquired…get rid of some of the people…not your buddies, of course, but the quiet, mousy ones – the guy in finance, the girl in the training department, your consultant. Heck – these people are always whining at you about spending and training, anyway. Who needs it?! As long as you’ve got your buddies around you, anything can be done!!
7) Try to get over on your venders. They like that. Trust me. Make them squeal for every penny they ask for, then pay them late.
8) Don’t give referrals, and if you do, do so with grave reservations. No one has given you referrals – why should you bother trying to help anyone else? Besides, with your new Earthquake beliefs program, you can sell anything to anyone…so go to it!!
9) Cut your marketing! Marketing is SO over rated! My gosh…you can’t even, really, describe a return on the investment. I remember the one fax you sent out a couple of years ago only landed you one sale. Granted, the fax cost you $25 and the sale was for $5,000…it just doesn’t make sense. If, however, you don’t cut your marketing altogether, I definitely recommend a buckshot approach…don’t have a narrow, targeted marketing approach…try to reach everybody once or twice…hopefully, something will stick.
10) Lastly, pursue every new idea that comes across your desk without deference. No matter what it is. Don’t worry about it. Your customers and other stakeholders value your unpredictability, and appreciate the fact that although you might not finish anything, you have good intentions. That’s what we need, in this economy – good intentions.
While this list is not conclusive or exhaustive, if you stay on track the rest of the year with two or three of these suggestions driving your decisions, maybe you’ll have every opportunity to fly to Washington to ask for a bailout.
At Aepiphanni Business Solutions, we are a Small Business Consulting Firm dedicated to serving the needs of small business owners. We specialize in helping you develop strategies for your organization, and are committed to your success. If you have further questions about creating your strategy or developing your vision, please give me, Rick Meekins, a call at 678-265-3908, or email us at [email protected].