Act like the recession is over
December 1, 2011 by Mary Adams
It’s been a tough run for us all over the last few years. From the time in mid-2008 when we saw the recession hitting until now, we’ve lived through challenging times with quite a few of our clients.
Of course technically, the recession is over. But there is still plenty of bad news that gives us all pause every day. Still, the truth is that this year was pretty good for most companies. A number of our clients have had double-digit growth and have good outlooks for next year.
But it hasn’t been easy. And what worked in the past won’t work now. Here are a couple ideas to help you chart a new course:
- Tune the hell out of your existing IC (people, processes, relationships, knowledge) by finding new efficiencies and helping make your people smarter
- Build new IC by hiring new talent, acquiring new knowledge, starting a new partnership
- Leverage your IC into new lines of business
Intangibles can often be improved without huge investment. It’s about doing things smarter and in new ways.
We have had two clients this year who have already embarked on leveraging their knowledge into training offerings. Both received a clear message from their customers: we like what you do and we want you to teach us how you do it. At first, it sounded like they were being asked to give away their core business knowledge. But it actually is an opportunity to get closer to their customers, create a new revenue and cross-sell them more products and services than ever.
Are you out there looking for a recession or for a new future? You have the power to choose.