Posts Tagged ‘survive the recession’

You Are Not The Only Game In Town

Saturday, August 14th, 2010

Remember the soup nazi in the Jerry Seinfeld television series? His soups were so good that he could dictate who he would serve and who he would send away. He owned that market. He didn’t have to listen to what his customers said – they bought what he sold.

Fast forward to 2008. General Motors, Ford, Chrysler were making cars that few were buying. An economic recession reminded them that the products they make must meet the needs, values and interests of those they hope to sell to. So if you don’t want to make a car that gets exceptional gas mileage, includes the extra safety features important to your customers, or carries a cost that is prohibitive, then customers will go elsewhere. And they did.

In the August 13, 2010 New York Times article, “Detroit Goes From Gloom to Economic Bright Spot,” writer Bill Vlasic stated, “Detroit has vowed to change before, slimming down when sales slumped or pouring resources into vehicle quality to catch up to foreign competitors. Many auto analysts say the current makeover has a more permanent feel, largely learned from the near-death experience of last year’s bankruptcies at G.M. and Chrysler.”

This is just one industry where customer disconnect and management hubris sent the large players falling. What matters most are the lessons learned; here are several of the most important:

1. In a connected world, you are never the only game in town.
2. Always know your customers – what they want, need and value.
3. You earn the privilege of serving your customers by knowing them well, responding in an exceptional way, and by standing behind your product or service.
4. To be retained, employees must add value and make a difference; there is no right to employment – it must be earned.
5. Strip the excesses from the business – run lean, efficient and effectively.
6. Develop a “here today, here tomorrow” mentality; be strategic.

In today’s world, a company must stay connected its employees and customers, and all products or services must be responsive and responsible. We are rarely the only game in town. That is okay – it forces us to improve our game and constantly focus on greatness.

Please forward this to someone who can benefit from it and contact me to help you activate your employees to create sustainable value for your customers and organization.

Broke, But Not Poor

Thursday, April 15th, 2010

The recession has created some of the toughest times many of today’s younger generations have lived through. But there are many older people who have lived through tougher times. They have learned how to survive and thrive in challenging times.

Suzan Colon shares in her great book, Cherries in Winter, the stories of how her family has weathered tough times, and how these responses are meaningful in helping us stay focused, healthy and confident in our period of uncertainty and change. Her grandmother used the phrase, “broke, but not poor.” Broke meaning times are tough now – but this is temporary. Poor refers to something more permanent. It was her way of saying “we’ll do what it takes to get by, then we’ll get better.” Realistic and optimistic. Wisdom for real life.

Tough times remind us that all things come and go, increase and diminish. So in the down times, what are your traditions or techniques to raise your spirits and keep you sane, healthy and appreciating life? What stories and wisdom do your older relatives share about how to weather tough times and retain your appreciation for what you have and who you are?

Here are tips from seniors who have learned how to be “broke, but not poor:”
1. Spend just a little on a treat every now and then. Make it a celebration.

2. Share what you have. It connects you at a deeper level and helps remind others to do the same.

3. Redefine value as experiences instead of things. Make a point of socializing more with friends and family. Share stories.

4. Say thank you more. It helps you see what you have instead of what you don’t have.

5. Get up and get moving each day. Start each day with a clear purpose and a personal sense of value.

History does seem to repeat itself. Some of its greatest lessons are still meaningful for us today. Many of our older relatives have weathered storms significantly more difficult than today’s. Their wisdom is timeless and guidance is priceless. Most times we don’t need to reinvent things – we just need to check in with those who have had experience with handling life on life’s terms.

Please pass this on to someone who can benefit from it.