Tweet

Planning to Grow When Everyone Else is Trying to Survive

Guest post by: Kevin Kragenbrink

Article Overview: The economy is in a mess. The politicians and Wall Street gurus can't seem to figure out a solution. Everywhere you look the news is gone from bad to worse. The Stock market is down, unemployment is up, and consumer confidence is down, what's next? After all of the pundits, reporters, prognosticators, so called "financial advisers" and economic experts are done talking I am left with just one question: where do we go from here? If I listen to all of the above, I get the feeling that the best I can do is tie myself to the ship and hope to weather the storm. But what if I choose not to listen to all of the above? Is there another alternative? You bet there is. I am planning for growth and opportunity in the midst of this economic turmoil. Yes, I believe this is possible. In fact, not only possible, but likely if you take the right steps.

Planning to Grow When Everyone Else is Trying to Survive

The economy is in a mess. The politicians and Wall Street gurus can't seem to figure out a solution. Everywhere you look the news is gone from bad to worse. The Stock market is down, unemployment is up, and consumer confidence is down, what's next? After all of the pundits, reporters, prognosticators, so called "financial advisors" and economic experts are done talking I am left with just one question: where do we go from here? If I listen to all of the above, I get the feeling that the best I can do is tie myself to the ship and hope to weather the storm. But what if I choose not to listen to all of the above? Is there another alternative? You bet there is. I am planning for growth and opportunity in the midst of this economic turmoil. Yes, I believe this is possible. In fact, not only possible, but likely if you take the right steps. Here are some suggestions.

First, you need to have a plan in mind. I believe it was Yogi Berra who said, "If you don't know where you are going, you will probably end up somewhere else." You need to set goals and objectives as you start the New Year, and then believe you can achieve them. I don't have a crystal ball that guarantees the success of my goals, but I know without a doubt that if I don't have any growth goals, my chances of growth are very slim indeed.

Once you have some goals in mind, do what you need to do to make those goals happen. Now is not the time to stop your advertizing and reduce your marketing. It is a great time to evaluate how you are getting the word out and make sure you are doing the right things. Remember the CEO Rule, "you can't manage what you don't measure." This is always important, but even more so now. As you plan your marketing and advertizing for the new year, take a close look at what actually works. Limit your commitments in new efforts to 90 days and then measure for results with everything you do. If it is not producing results, stop doing it and move on to something else. Be careful, though. It is easy to lose heart with advertizing if it does not work right away. You need to have a plan that you can follow all year long. If one thing does not work, be ready to replace it with something else until you find what does work. If you are consistent, you will find it.

Now that you have your plan and you are getting the word out, it is time to look for those new opportunities that this market will create. You see, every significant change in the market produces new avenues for growth. The businesses that see and take advantage of these opportunities are the ones that gain the most. These new revenue opportunities can be found in several ways.

Start by seeking out and building new strategic alliances. Look for those people or businesses that have people, markets, products, or opportunities in common with you. Look for the other businesses or professionals who serve your client base. Meet with the decision makers in those businesses and you will soon discover that opportunities abound for both you and them to grow as a result of an alliance. Make a list of every one of your possible alliance partners and start calling them today to get the process moving.

Make the most of your current and past relationships. This is a great time to reconnect with customers, colleagues, friends and neighbors who know how good you really are. Even in a shrinking economy, people will be looking for products and services to buy. Finding a seller they can trust will often be the most important part of their buying decision. What better way to build trust than to have those people who already know and trust you tell others? Collect up those testimonials, ask for referrals, get introductions to new prospects, turn everyone you know into a "raving fan" and watch how they will help you grow your business.

You may try some or all of these strategies. You might have other great ideas of your own. Whatever you do, keep your goal in mind and believe that every economic shift brings with it opportunities. What will you do build your success this year?

Related Articles
  Business Survival and Success
  How much Planning is enough - Use Lean and Standardize
  Twelve Strategic "Grow Goals" To Grow Your Business According To Your Strategic Thinking Business Coach
  Defeat Procrastination and Make More Cash!
  Small Business Consulting
  Wealth Education, How to learn what is not taught in school.
  Setbacks in Network Marketing
  PLANNING FOR SUCCESS – PART 4 – CLARITY/SO WHAT?
  Top Business Coach Teaches You How To Plan Your Growth
  Planning Vs Worrying
  Clearing Up The Myths About Strategic Thinking and Planning
  Will Your Small Business have a Happy Ending
  Five Phases of Business Development
  Passing the Leadership Torch
  The Keys to Business Success
  Accountants can make or break your business...what\'s yours like?
  Zen and the Art of The One Page Business Plan
  A Fresh Approach to Obtaining Global Perspectives on Corporate Strategic Planning
  Is strategic planning for small businesses, or only the “Fortune-ate”?
  You DON'T Need a Business Plan? 3 Excuses That Reduce Your Chances for Success

Article Tags: advertizing, business coach, business planning, economic turmoil, economy, marketing, setting goals



Related Forum Posts
Re: My 3 best business books - 1. Think and Grow Rich - Napoleon Hill 2. The 7 Habits of Highly Effective People - Stephen R. Covey 3. Permission Marketing - Seth Godin Think and Grow Rich seems more powerful each time I read it or dip into it. The 7 Habits not only offers some very effective ways to organize your life (which I have yet to master!), but also some great quotations and thought provoking statements including this by Nazi concentration camp survivor, Viktor Frankl: [i:2naxzsom]Between stimulus and response, man has the freedom to choose.[/i:2naxzsom] Seth Godin's Permission Marketing is a good read for anybody seeking to understand how to approach doing business on the Internet in the right way with regard to winning people's trust.
Re: How do you make the most of your day? - Planning, To Do lists, and deadlines all help me. Also being self critical of my own time management helps me raise the bar. I still check email too often though.
Re: My 3 best business books - It seems that Napoleon Hill works help a lot of business men. He had done a really good job. I bought Think and Grow Rich many times.
Re: Success - I think it was Gary Player who said the harder I practice the luckier I become when it came to his success as a world class golfer. Planning and dedication to a task can make all the difference between success and failure. MichelleJ
Think and Grow Rich - Hi Moira, What a great post! I completely agree with it and it really is too easy to underestimate those 3 points but once we learn to use them the sky is the limit. I am currently reading Think and Grow Rich by Napolean Hill. Have you read that book?


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

SEO – Link Building Secrets

BUILDING A HIGH PERFORMING TEAM

Common Sense Stress Management

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.