Most people when faced with treading water realize that at some point to get somewhere they either have to start swimming or drown. You only have so much energy to stay where you are. The same thing holds true for businesses!
You Can Only Tread Water For So Long!
A business can maintain the status quo for a period of time. At some point, however, they must start growing or the competition will surpass them. In this recession the goal for most companies has been just to survive. We have seen revenue for most companies settle in at a 30% reduction from a year ago. Cash flow has stabilized at a lower level and companies are not bleeding like they were.
Now is the time for companies to start swimming! You should be improving your sales efforts and products while you have the time to invest. When the economy picks up you won’t have the time to improve your company’s or your own skills. Over the past 2 months we have noticed an uptick in business sentiment. Companies are now starting to realize that the world is not coming to an end.
With that thought in mind they are starting to make inquiries for services to help them through these tough economic times. Are you ready for them? Have you been honing your staff’s skills and increasing the level of training of your staff? Are new skills and products being developed? Finally, are you increasing your marketing efforts before the competition?
By investing your down time into your people and systems you can come out of the recession in a stronger marketing and financial position than the one you went in with. Now is the time to start swimming!
To learn more financial leadership skills, download the free 7 Habits of Highly Effective CFOs.