By Peter Boritz
• Don't Panic – remember to breathe; don't make rash decisions like cutting staff or drastically cutting prices. This can be very damaging and hurt you when the economy turns the corner. Instead focus on making strategic adjustments which can be positive.
• Focus - Stay on point with your core revenue generating products and services – the items that are important. Be smart and prioritize - your next big idea may have to go into a holding pattern.
• Collaborate – This means with your customers and staff. What are their ideas on how to operate in today’s conditions? Clients can sometimes have the best advice.
• Think Positive – A positive attitude from the leader keeps staff morale up and will help keep generate positive productivity and a healthy environment.
• Market - Never stop selling and marketing even if you have to cut expenses. Many things can be done at low or not cost.
• Network – Think about getting out there and also using the Web for networking. This can be a truly inexpensive way to meet new people for personal or business relationships.
• Cross Promote – Work together with a complimentary business and split the costs. This keeps you in front of your clients and allows you to stay top-of-mind with them in tough times. When the market turns, this will put you one step ahead and at the top of their list.
