Some people know how to make this recession work for them. I speak with too many who don't and who pull the covers up and hide, thinking they'll just go into neutral and wait it out. I have a client who's doing everything right and I recently spoke with her to find out more.
Her business has taken about a 20-30 % hit in revenue, leaving the company with more spare time than they want. Rather than just take early days, they're using that time to revisit every facet of the business and make improvements. The core services are being inspected to find greater efficiencies, new services have been planned and are close to rolling out, and marketing has been ramped up. The sales team has a new model to follow that has already brought in new clients and ensured repeat business from current and past clients. Office personnel have been shuffled according to need and strengths, so layoffs have been minimal (only a few).
The result is renewed excitement as her people have a clearer focus for both the present and the future. Sales are down for the year, yes, but they're increasing. And as they lay a strong, improved foundation for the future, they will be in a terrific position as the economy rebounds. When I spoke with her I heard optimism, the kind that comes from focus, vision, hard work and a realistic understanding of the economy.
Business owners of all kinds should learn from this. What a great time this is to have some time for examination and improvement, even reinvention if called for. Let's see more of that.
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