Businesses are scrambling…on all levels. This is a notably challenging economy, and has been for the past three years or so! However, spirits are high…and from all that I’ve been reading and discussing with colleagues and friends, management teams and one-man shows alike will weather the storm if they are paying attention to some VERY basic, old-time thinking as it relates to their business dealings.
- A review of your company/product positioning is key – are you focusing the majority of your time on aspects of being “served” by your employees and your customers…OR, are you focusing your attention on “serving” your employees and your customers?
- Tough one. It’s natural to think about profit margins, cutting costs, economics across the board. But, is this going to strengthen your positioning in the long run when times are tough…or, even when times are great?
I read an exceptionally inspiring book last year…and it continues to be SO very relevant. Tony Hsieh, the CEO of Zappos wrote a book called Delivering Happiness: A Path to Profits, Passion, and Purpose. Zappos is one of the most successful contemporary companies ever…and an excellent example of a company that will undoubtedly maintain regardless of the economy. Note the book information and the video on this link: www.amazon.com/Delivering-Happiness-Profits-Passion-Purpose/dp/0446563048
Gabriel Shaoolian, Blue Fountain Media CEO & founder states, “When times are tough, every penny a firm spends is critical”…and, “that Smart buyers – especially business people – are always more concerned with value than price, and that’s never more true than when finances are tight.” He goes on to say, “It’s about giving people more than they expect for their dollar – going above and beyond to provide a product or service that has a higher perceived value than the actual cost. When you can do that, what you’re offering looks like a bargain, whatever the price tag might say.”
Some considerations in this regard:
- How can you go above and beyond in your product and/or your service deliverability?
- Have you taken the time to review and refresh your “vision and purpose” – specific to quality and service?
- Are you nurturing and developing your team of employees – ensuring their continued commitment and enthusiasm for your company? What training and development programs have you found for them that best support this initiative?
- Are you taking the lead on delivering innovative product and/or services…or, contributing at the “better sameness” level?
- Are you maintaining lines of communication with your employees and your customers to ensure their continued interest and involvement? Have you familiarized yourself with the various social media and internet marketing opportunities available?
- Have you developed acknowledgment and award opportunities for your team – providing them an opportunity to aspire to exceptional performance, contribution, and attitude?
This seems like a LOT to consider, but think how much better, more positive, and more motivated our teams will be if we all took the time to ponder and act in this way…and how solid our business foundations will be regardless of the challenges.