Surviving the Economic Winter

As I write the first blog of 2010 we sit in the middle of our harshest winter in years. Snow is falling across the country causing travel chaos and disruption. Like the weather we are also enduring one of the harshest economic winters. Last year I attended a seminar given by Brad Sugars where the key emphasis was on understanding how the economic cycle works. Right now, we've had Fall, and we're in the economic winter. That's not a bad thing - in fact it's a great opportunity if you're aware and prepared.

In economic winter, things are clearly different to the summer. In the summer, we should be making and storing money (like hay) to see us through tougher times ahead. If you spend all your money in the economic summer, you're risking your business survivability in the winter. If you have cash stored away, then when winter comes, your cash can go a lot further. Just as the farmer is fixing his machinery and buying new machinery through the winter, we need to look at the opportunities to hire better personnel, negotiate better commercial terms on your property or look at securing great advertising rates.

Did your business survive this far because you were riding the wave of a good economy, or because you have a well-managed business? One thing is clear in the economic seasons spring follows winter and spring is all about sowing the new seeds and preparing for growth. The focus for the Blog over the next 12 weeks will be centered around strategies, tactics and tools that will enable you and your business to get fit for the economic recovery.

We will be focusing on a different topic each week and with the support of best practice thought leaders for each topic bring you the insights, experience and advice to plant the very best seeds to maximise growth and success in your business.

1. Get your mindset right. If you are focusing on the negative, all you will ever see is the negative. Look for the positive - look for the opportunities that are available.
   
2. Set new goals. Reassess where your business is and where you want to go.
   
3. Planning. When you have a plan you can determine what you need to do or learn to achieve your goals.
   
4. Sales. Sharpening the whole of your sales process so that you and your team are in a great place to win new business and take business from your competititors.
   
5. Marketing. The rules of the marketing game are changing at a phenomenal place, what are your points of differentiation? Who is your target market? What results have you had from your previous marketing? How well are your Testing and Measuring your Strategies?
   
6. Time. How are you using your time. How much time are you giving over to working ON your business as opposed to IN your business. How disciplined and focused are you in managing your time for maximum productivity.
   
7. Team. Developing a peak performing team who are very focused on achieving the goals that you have set down for the business.
   
8. Networking. With the rise in Social Networking and associated media what are you doing to keep abreast of the latest trends and how is your business engaging with a new set of consumers?
   
9. Systems. Ensuring that your business has the right systems in place from which to grow the company.
   
10. Success. Planning to win a developing a culture that recognises and encourages success throughout your business
    

Take Action: Plant the seeds for growth and success now so you can reap a more bountiful harvest!