Market Share | Dealing with the Economic Challenges

Posted on December 1, 2009

We continue to face economic uncertainty. During this past year we have seen unemployment reach an unprecedented level. Both my private clients and corporate clients have asked me if I have any suggestions for dealing with this economic challenge.

My advice to those of you who are employees is very straight forward. Work harder than you are paid to do. Show up early, and stay late if necessary. Be a solution finder rather than a fault finder and complainer. Be positive and enthusiastic. Have a can-do, will-do attitude. Remember, winners develop the habit of doing the things that losers don’t like to do!

If you are an owner or you are in senior management, here is my advice for you. Focus on success rather than on survival. Think, talk, and act like a winner. Look for, and praise good work and exceptional effort. Lead by example. You can’t change the market. But, you certainly have the choice regarding how you are going to deal with it.

You can take advantage of a recession to build your business. How? Most companies fall into a “slump mentality”. They let the market control their vision and thus their results. Great companies recognize that their competitors have fallen into this trap. These companies go after that market-share by being focused; and by being results, solution, and action oriented. They set clearly defined and specific goals for all of their employees. They inspect what they expect.

They are brilliant on the basics!

Make it Happen…

Additional action steps

  • Stop watching and focusing on the bad news
  • Avoid getting caught up in gripe sessions
  • Don’t condemn, criticize or complain
  • Have an attitude of gratitude
  • Remember… The rewards in life are for finding the solutions, not identifying the problems
  • Focus on success
  • Challenge yourself and your co-workers to “Beat Yesterday”
  • Plan… One hour of planning saves ten hours of doing
  • Delight and amaze your customers and your bosses
  • Focus on what is important, rather than on what is urgent
  • Consistently ask yourself… “What should I do more of? What should I do less of? What should I start? What should I stop?”
  • Remember… Winners make it happen!

Remember… Every day is a gift, and the quality of your life is your gift to yourself

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