Now is the Time for Action….NOT… Panic

Now is the Time for Action….NOT… Panic – Ten Immediate Steps to follow in 2009
Profit covers many sins.

We have all ridden the wave of prosperity for the past five years prior to 2008. Let’s face it, it didn’t take a genius to be profitable. You may have ignored small indiscretions, less than stellar performance, even incompetence. You may also have ignored structural issues, process issues, family issues and even corporate executive issues. “Profit does cover many Sins.” So…… Now is the time to take action if you want to maintain market share or increase it during the economic crisis we are facing in 2009.

1. Make sure all your assets are deployed effectively -
2. Find and Shoot your “Loser Customers”. The easiest way to do this is to raise prices and quit giving away free services to the losers.
3. Recommit and focus on profitability – cost control. Don’t scrimp on revenue producing functions or process.
4. If you have to make cuts – start at the top – kill the sacred cows. Take a close look at your executive team.
5. Business survival comes first – compassion second and family nepotism last
6. Invest in developing your structure, your process & your key people. Don’t cut training for key people.
7. Make managing your cash flow a priority. Understand and manage your cash to cash cycle.
8. Focus on increasing market share by going back to basic best practice in sales effectiveness (targeting, goal setting, action planning & sales management vouching)
9. Seek out opportunities in recruitment, vendor negotiations and exploit the competitions weaknesses
10. “Weed the Garden” --- Upgrade your workforce by replacing those employees that have never lived up to expectations.

This is Not the Time to Panic

Yes, there are economic problems, but there are also opportunities! Leadership during these tough economic times is about not panicking, and that's exactly the message I want to get across... don't panic! Panic causes knee jerk reactions, and they're rarely correct. This Economic Panic that could be caused by “Media Sensationalism” can create a knee jerk reaction that negates effective leadership.



www.ceostrategist.com 352-750-0868