Remaining Focused

The situation is similar today in the current climate.  Nobody knows what will happen over the next eighteen months as the financial crisis takes us into unchartered territory.  Many businesses will suffer because they are not prepared or equipped to deal with the storms or the sudden change in plans.  Already many have collapsed.  Most of these were businesses that had lost their way already and so the first storm knocked them over.

As business leaders we need to know what are the important indicators that will enable our business not only to survive, but also to be prepared when the upturn begins.  There is no point in surviving the storm to sink when the recession ends because your competitors have already got new offerings.

We need to consider what I call the three fundamental indicators of business ability to come out of a recession and be capable of capitalising on the opportunities that follow. 

1. Have you got an outstanding product or service?
2. Have you got an outstanding delivery mechanism?
3. Have you got the necessary cash flow?

Notice the use of the word “outstanding”.  By that I mean something that differentiates you from the competition, something that is fresh, dynamic or simply sets you apart.

My concern is that companies are battening down the hatches to weather the storm and are simply not thinking about what the world will look like in the future.  Just because there is a recession does not mean that people aren’t looking for good service and perceived added value.

I phoned a company yesterday to enquire about a price for a piece of equipment.  I was told I would be put through to Lee who could help me.  Then the same person came back and said Lee was on the phone.  I asked, “Is there nobody that can simply give me a price?  I have the exact details of the model I want, surely all that is needed is to type the number into the computer and tell me what the price is?”.

The reply!!!!!  “If you give me your phone number and email address I can look that up for you”.

Can you imagine that?  This company is focused on building their database and not serving the customer.

Walk the floor and listen to people talking, you will hear them talking about what they are focused on at the moment.

Business leaders need to be focused how they will survive to the end of the recession, when it comes, being prepared and in the right gear to accelerate out of the recession. 

What the business leader is planning and focusing on today will decide how good the business will be in the future.