BEATING THE DOWNTURN
First it was just "the credit crunch". Now it's "the downturn". And, if reports are to be believed, we are "heading for recession".
All rather gloomy, but whichever turn of phrase you lean towards, it looks like we're in it for the long haul. So what should you be doing to ensure you don't just come out the other side - you come out ahead of your competitors?
The initial reaction of "let's wait and see what happens" is simply no longer an option. The longer you navel-gaze, the more you'll paralyse your business. And the longer your business is paralysed, the less opportunities you'll have to kick-start a suitable response.
Similarly, simply 'working harder' is unlikely to yield the results you're looking for (and is a sure-fire way to a very miserable burn-out).
It's clear that what's required is a swift and focused response to the circumstances. It may well be that you need to take a little time out and realign your strategy with some creative thinking. Get the notepads out. Think laterally. Could the downturn actually be turned into a positive opportunity in any way?
Creating the roadmap for success
It's essential that you set some realistic goals and objectives - and create your roadmap for achieving them.
You should also think long and hard about the skills your team will need to weather the storm. Negotiation, influencing, decision-making: all of these should be at the top of your list.
Now's the wrong time to be carrying those who aren't up for the challenge. Could the team be streamlined? If so, shed the dead wood. Challenge and aim to turn around the toxic and negative thinkers in your team - champion the positive can-doers, model that behaviour, and the feet-draggers should follow.
Crucially, if you're to climb up the hill you need to maintain motivation and momentum. However, you don't need bonuses or jollies to motivate. Simply make sure you give plenty of feedback to your team. Offer direction and support to those that need it, making yourself available to talk and listen.
Try to maintain a blend of positive realism, strive to motivate, and celebrate success - even if it's just with a sincere "congratulations" and a pat on the back.
And if things aren't all going according to plan, discuss the variables affecting failure - and act on them quickly before the rot sets in.
Remember, although things may not be as sunny as a year-or-so ago, with the right mindset and approach, this could be a real opportunity to steal a march on your competitors.
