As the economy continues to tighten and the media continues to freak everyone our about the future, I thought of sharing the top 5 things you “must do” to survive 2009.
Yes, it’s about survival. But it’s survival in a good way.
In other words, you need to manage your business so you can be there when all the other businesses fail to survive.
What is happening to the Global economy was bound to happen and is relatively normal. The global economy is going through a self-cleaning of sorts.
What is happening is normal and we must be prepared.
Think about it. What is happening within the credit markets is a cleaning of credit where the world will have to live just as we did in the ’70’s. Minus the Disco music and bell bottom jeans.
What I am trying to say is that in the ’70’s, we didn’t have credit to get us into trouble. All we had was cash.
That is where we are headed now.
So get ready.
1) Get Organized
Develop a plan of action and a discipline to stay organized. Trust me it works. I have trained hundreds of business owners to remain focused and organized. Get organized.
2) Manage your costs
You have to take control of your costs…you just do. Do not for one minute beleive that you don’t have to control your costs. This is the most important part of managing your business and your life. Control you costs.
3) Write a plan
Write out a plan that has deadlines and schedules to help you see what is happening outside. By outside I mean taking a look out the window to see what is happening in your local economy and you competitors. Don’t worry about the macro economy so much as what is happening in your own locality.
4) Analyze trends
Figure out what is happening by taking a closer look at your comepetitors and their customers. It’s OK to do this and it is perfectly legal. Also, reach out to your competitors to see where you can help each other. This is not a crazy idea. Big companies do it all the time. Ever see a Starbuck’s in a Kroger or a Albertson’s grocery store?
5) Get Organized
Yes, I put this here twice because it’s that important. You have to get organized.