#400….Unprecidented opportunity exists during this economic meltdown, for those who see it… and act.

My mother taught me that the glass is either half full or half empty…I have always chosen it to be half full…It is a decision we all make and it creates the context for your success or failure, and it is your choice.

My father taught me about prudent decision making, self protection and making the right decisions, usually conservative, less risk oriented and more about small steps to success through hard work and a commitment to excellence, rather then accepting large risks that could mean all or nothing.

Combined we have the basis for evaluating today’s opportunities and challenges and turning this economic meltdown into an opportunity for greater success.

Sounds contrary to what is happening in today’s business world, filled with plummeting revenues, falling profitability, staggering overhead and huge losses.

It’s easy to be staggered by the collapse of the housing market, the financial service industry, unavailability of credit, and the collapse of our stock market, collapse of the value in our homes, the demise of the auto industry and on it goes…all apparently good reasons to hide under a rock and wait until the storm passes, returning us all to were we where before it began.  It will not happen this way.  The current economic conditions will be the standard we must work under for years to come.  We must make changes now to remain viable well into the future.

Here I  am saying, as my father would preach…be prudent make good decisions and be very careful with your spending; and coupled with what my mother taught me, make certain your thinking is controlled by the ‘half full’ theory, not the ‘half empty’.

With downturn thinking the overwhelming and prevailing attitude is: ‘There is nothing I can do about it except take the punishment and do the best I can’.  Here is the path we we’ve been speaking about during the past 100 blog entry’s to help you navigate the downturn successfully -and in fact make unprecedented gains.

Here is the run down of what we can and should be doing to not only endure the storm but to  increase value, create a better business and accelerate your position in your market area, while your competitors and the market place hunkers down -accepting their demise.

1. Downsize, deeply.  Reduce payroll.  Negotiate reduced rents  Re-negotiate every overhead item you can, and every supplier!

2. Get competitive bids…three or more bids on EVERYTHING.

3. FORCE your business to be profitable today under today’s circumstances.  All it takes is a SHARP pencil.

4. Create a new business plan to chart your path onward and upwards -a different plan then the one you have now- a growth plan under the current circumstances.

5. Review your debt and enter into pre-emptive workouts, before you crash and burn.  DEBT IS THE KILLER.

6. Recast your business equation, focusing on your core expertise and most profitable activities and eliminating marginal activities and products.

7. Adjust your marketing strategies to de-emphasize traditional advertising and work more on public relations activities, web site marketing by utilizing your existing client base for growth and development.

8. Please, please please, understand that after ten years of steady growth and development, where it appeared unnecessary to run a tight business ship because there was always demand and price was not an issue and profitability abounded irrespective of the lack of financial controls in your business; it is now time to sharpen the management process and increase controls, install key indicators and review your numbers daily, weekly, monthly.  It was always important, but now it is crucial for survival.

9. Buy up any failing competitors, asset based purchases, increase market share cheaply, effectively, let your seller finance the acquisition out of increased revenues…nice!

10. Maintain a positive attitude, it is attractive and promotes success.  Demonstrate this attitude to your suppliers, to employees and customers.

11. Install an incentive based reward system.  You can increase productivity while reducing the payroll and the number of employees. This will increase your bottom line and reduce your expenses.  It works.

12. Create joint venture alliances, to improve profitability with limited investment.

13. Hire the young, the old, and the untrained and then train them to do the job you want; it’s cost efficient, effective and satisfies your need for a trained, productive, and cost effective employee pool.

14. Re-commit and train your employees all about customer service.

15. Evaluate the customer experience and make it as positive as possible, understand the difference between customer service and customer experience and deliver both.

16. Create career paths through training and cross training to develop your work force, increasing productivity.

14. Commit to delivering quality, on time and on budget.

17.Flatten your management organization, allocate responsibility, do not control everything…

Read the entry’s in this blog.  I write to help you gain insight into how to do your job more effectively.  There is no reason for failure at the hands of this economic recession.  You can become pro-active, take responsibility for your own success or allow yourself to fail…it’s your choice.  Keep the glass half full, yet make prudent precise management decisions that enhance your position, limiting your risk and exposure to loss.

Lead, follow or get out of the way…another old saying, I modify it to… lead or perish, it is your choice.

My mother and father were both correct.