Who doesn’t want to be prepared? It’s a natural instinct for survival. And when it comes to the businesses we lead, we want them to not just survive, but thrive! So, as the bells of uncertainty in our world and economy begin to toll once again, it’s a natural and healthy response to assess where we should pull back – and where we should stand strong.

Over the last 20 years in business, we’ve worked with companies that have faced all kinds of economies and changing business conditions, including growth, dips, recessions, and inflation. It’s nothing new, and similar to what financial advisers are reminding investors today: this is a predictable cycle. We must use what we’ve learned over the last decades and be smart about where to pull back and where to invest.

Steady wins the race, and savvy investors know that when they stay the course, they’ll always come out on top. Unfortunately, when it comes to marketing, only a small minority of businesses stay the course. These few are the successful businesses who continue to invest in promoting their message to the marketplace. Businesses that stay the course are no longer a voice among many (since the fearful ones have retreated), and their voice is heard loudly. The same investment has a ten-fold magnitude of impact! Because they boldly continue to speak to the marketplace, the message is: we are strong, we’re here for you, we can help.

So, in times like these when a business feels the need to tighten its proverbial belt, what actions should leaders take?

  1. FOCUS on what you do well and do it exceptionally. Stick to your core business. Shed side ideas/services/products that haven’t yet produced large profit margins. Now is not the time to go into new areas or new markets unless you need to pivot dramatically to save the business.
  2. IMPROVE EFFICIENCIES and systems/processes. Push the task to your employees to come up with the best ways to deliver the exceptional. Look at systems and processes and eliminate double-touches or unnecessary steps. Before adding any new employees, make sure processes are mapped and as efficient as possible; everyone is trained and cross-trained; and ask the employees to identify the waste and how to eliminate it. This will save the company money, improve the output for customers, and enhance job satisfaction.
  3. KEEP TALKING to customers and prospects. Find out what challenges they’re facing. Solve their problems. Businesses buy answers from other businesses. Show them how you have the best solutions for their needs. This is truly the silver bullet to growth.

We want your business to get through uncertain times not by surviving and starving, but by thriving and growing! We’ve been helping companies get to their next level of growth during all kinds of economic conditions. We would welcome the opportunity to partner with you to develop a consistent communications plan that will amplify your voice and appeal to customers and prospects to expand your business.