A Strong Economy Can Hide Bad Habits

When everybody has money to spend, it is relatively easy to get them to buy goods and services. Companies stop looking at process and instead focus on their results.  Good results can make everything okay. When the phone is ringing off the hook, marketing seems less important. When salespeople are busy taking orders, they are forgiven for not taking the time to prospect.

Then one day the economy starts to tank. The phone rings less often, unsolicited orders slow and we don't know what to do. We have gotten away from following a sales and marketing process and we have nothing in the pipeline. Ouch!!

Entrepreneurs need to have a focus on process, on doing the right things in the right sequence at the right time to locate prospects and turn them into customers. There needs to be discipline. Time management is critical. Sales management needs to be focused.

Who really benefits from your product or service? Who really needs it? To whose business do you add value? For which customers can you be a strategic component of their success?

The collapse of the home building industry this year has been a disaster for many types of businesses that have put too many eggs in that one basket. With home sales going through the roof a couple of years ago, the lumber yards, paint companies and all of the subcontractors had all of the work they could handle. They did not think about developing a differentiated customer base. Now where are they?

The time to develop good habits is when business is good. Exercise discipline and selectivity. Have criteria in place for prospects and customers. Which ones are recession proof? Which ones will thrive more in a down economy? What fat can we cut from our processes and budget when times are good to give us a little wiggle room when time is bad?

If we have good habits in place when times are good, they will serve us even better when times are not so good.

Comments

[Entrepreneur]

Total economy of world depends on Americas economy but as present market of America is totally doing dull business that's why many organizations are hiring enterepreneurs from outside to get some growth in their economy.

[fahrrad]

Dies ist ein großer Ort. Ich möchte hier noch einmal.