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Strive instead of how to survive the crisis
Newspapers and television are full of the dreaded R "word" and there the danger that we have brainwashed in a scene are the companies to be so petrified that the recession will materialize as a self-fulfilling prophecy: We are reluctant to invest in our business, reduce the resources that generate business and provide customer service and making a series of things that can lead to deterioration in service and sales. We could save in advertising, training, and voila, you have at hand is a situation where your business is growing again instead of up. Worse, you may not have started this spiral if nobody told you about a change in strategy because of an impending recession.
We must not ignore what is happening around us, but we must apply a little common sense and recognize that the economic slowdown is in fact something that does not automatically affect the whole sector. In fact, many industries tender. Think of the interim and change management, think fast food restaurants face to face, that Aldi vs. Waitrose, Think Industry against manufacturers car bike. The list is endless and every situation "difficult" (I prefer that term better than "L" Word) the cards are shuffled from new and many companies were founded in difficult times and many other companies actually made much money during tough times.
During the last economic recession in the airline Sabena and Swissair went bankrupt in record profits, while Lufthansa and SAS have been reported. A recession only affects half of the airline industry, but not others? No, dammit! Let's face it: It's all over the good or bad management. If you have handled your finances with wisdom and providence, How to avoid loans and the accumulation of cash reserves, you are in a strong position and can lead out the difficult negotiations now purchase goods, materials, equipment or other at a great price.
When things get tough, consumers think twice before they spend money and good old values like customer service, value for money, reliability and security Trump, and the good news is that all these are areas where you can still operate outside of its jurisdiction.
Here are 10 tips to not only survive but try hard times:
1. Keep a positive attitude, although, personally and within your organization. If they are all prophets of doom, which in turn people. Nobody wants to be poisoned by someone moaning and crying. The reduction in premiums or recognition for those who really earned by always putting the harvest, as is the baker who has decided to stop cooking bread, because it would save the cost of food.
2. The practice of financial discipline, freeze all nonessential expenses until the debt is paid. This does not mean that to save fuel generation companies, such as sales training, advertising and travel. I've seen companies for ask your sales force to stay in office for travel expenses are recorded. It is literally saving money at any price, in this case the cost of sales. Be firm with your debtors. I know some companies that do not hunt for their money for half a year. Not surprisingly, this resulted in liquidity problems.
3. Consider Change: There are many services in a business can be outsourced and became flexible fixed overheads. Accounting, secretarial services, computer resources of human, technical after-sales, marketing, all this and more classical potential is to improve efficiency.
4. Think investment actually in areas that business unit in the short term, such as managing customer relationships or a consultant or application outsourcing experts.
5. Communicate and treat their employees like intelligent adults. Many companies and their employees seem to believe that it is not so bad when it really is. Give your staff a clear picture of the situation of the company. Not only have they won, but people who know the subject tend to try to help and work harder or go with a lot of good ideas. Set clear objectives – all must understand that they have to earn a living and that will be measured and has to do.
6. Did you feel guilty and not Feel free to let go of minor artists. You run a business and not a social welfare organization. Your responsibility to keep the company alive and to provide those who no more larger than its social responsibility to people who have had their chance and blew it. If the boat is leaking, the commander is throwing away everything that is not absolutely necessary for survival. Nobody will thank you as gone adrift, each hanging until the end.
7. Diversifying before. The last time had told has been 1 domestic market and 187 export markets. It is unlikely that the economic downturn affecting all the 188 countries around the world at the same time. Most businesses are exported mainly to the availability of the Internet. Sit down and do some strategic thinking, knowledge of new markets, niche markets and new products. Put all your eggs in one basket is never a good idea, then why put all your eggs in a business market?
8. Think of these markets are not likely to reduce their purchasing habits. The NHS in the UK and the U.S. government offering opportunities in Europe are so big that you can easily offset losses and the real growth of your business. In particular, the United States Government in Europe buys nearly all types of products and services in the supply of its bases and forces of the UK suppliers are reduced because there is no language barrier and are much closer to its customers U.S. suppliers. Right here is a market of $ 1500 million.
9. Use all available at low cost, no-cost assistance. For there are many scholarships available and there are many offers only if you sit and take time to work. As you probably parts of a couple of hours when business is low, why not invest in and fill some of these offers fear that you normally would not worry, because you have no time? Now you have time. Contact Enfield entrepreneurs, providing special training for companies based in London, an initiative that is publicly funded and virtually free.
10. Keep a log and capture lessons learned of this crisis. Is likely to sooner or later in life you will experience a similar situation. The image of tranquility, comfort and control when it can generate a list of verification and are prepared to deal with the situation, instead of wondering what to do.
The author is CEO Eugene Rembor Rembor & Partners Management Consultants. Www.remborpartners.com
About the Author
Eugene Rembor, MBA studied in Mannheim / Germany, Barcelona and Cambridge. An international career followed, holding CEO positions within Top Fortune 500 and FTSE 100 corporations. Eugene worked and lived in 12 different countries before he founded Rembor & Partners, a management and turnaround consultancy in London in 1999.
Eugene is a consultant to the US Government General Service Administration in Washington DC and to the United Nations in New York and Copenhagen. He published three books and writes regular business columns for various magazines and newspapers. He regularly accepts international speaking engagements. Part of the UK Trade & Investment envoy, he spoke in Abu Dhabi and Qatar, at NEOCON in Chicago, Hong Kong, Oslo and London. In 2007 Eugene was received in the United States Capitol and in the US Congress. He is a mentor to London Metropolitan Police and lectures at various Chambers of Commerce and Embassies on international business.
He won the Cultural and Commercial Business Award by the American-German Chamber of Commerce, held a private lunch with Joseph Cari, finance chairman for the US 2000 Gore-Lieberman presidential campaign, dined with London’s mayor Lady Prendergast and was received by the Bavarian Prime Minister Edmund Stoiber.
In 2008 Eugene has been appointed Non-Executive Director of the Barnet and Chase Farm Hospitals National Health Service Trust with £ 270 m annual trust income, 4.200 staff and 82.500 patients.
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