Beating the Obstacles of a Recession

“I not only use all the brains I have but all the brains I can borrow.” – Woodrow Wilson

To state the obvious, the marketplace has changed significantly in the last few years. In general, most of us have achieved survival of our businesses through wise and sometimes creative “juggling.” In short, we’ve realized that to achieve the growth and success we seek, our businesses must change to respond to the new marketplace.

Whenever businesses are considering change, there are three phases that must be contemplated for that change to be strong, sustainable and successful: Analysis; Decision-Making/Action-Taking; and lastly Review, Reinforcement and/or Modification. For the purpose of today’s discussion, let’s concentrate on the first of these.

In order to give ourselves the best chance at success, we must enter the Analysis Phase and engage in unbiased analysis of three areas.

Strategy #1 – External Realities – Conduct a comprehensive market analysis (general market and your specific industry) that includes future impact projections of several market change scenarios. Some questions you must seek answers to are: How are today’s conditions different from those present during your “best” years? How is the term “best years” defined and why? What percentage growth did your business experience during these “best years”? What percentage of business decrease has your business experienced since then? What changes have been implemented since the recession started? What results have those changes achieved?

Strategy #2 – Business Platform – Review your business entity (vision, mission and objectives) and structure. Are your vision, mission and objectives relevant to today’s market realities? Are your business objectives S.M.A.R.T. objectives? How will your objectives change to reflect the new information you uncovered through Strategy #1? Has your “north star” changed at all and if so, how? What must be the new direction that will take your business to better success – new vision, new mission, new objectives?

Strategy #3 – Internal Fueling Agents – Evaluate and redefine your attitudes (yours, your employees’ and your business’). Give yourself and your business the gift of objectivity on this matter. It has been well evidenced that attitudes make for more than 75% of the indicators needed for success. It is also a fact that this recession has hit everyone hard in the areas of how we feel about work and our jobs. Evaluating in-depth and appropriately re-aligning attitudes could do wonders for performance – yours, your employees’ and your business’.

These three strategies are a critical starting point on which to lay the foundation to build a stronger organization; one that delivers better results and achieves higher profitability in today’s market conditions.

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When you contact us, our president Jaime Yordán-Frau will personally assist you in exploring your own possibilities. Give us a call at Integro Success Unlimited at (954) 435-8435 or drop us an email at info@integrosuccess.com and let’s have a thorough conversation (free-of-charge) to explore how we can help you reach your full potential and achieve levels of success that go beyond your own expectations.