Theeconomy is falling. The economy is falling.
It must be true. It’sall over the news. The economy is in BIG trouble. Stocks, mortgages,banks, insurance companies, the Yankees. All falling or failing.
Falling from where? Thebiggest economic boom of all time? The biggest housing boom of alltime? The easiest loan requirements of all time?
Business is not down,it’s different.
For example, when youhear the negative statistic on the news that home sales are down 33%,it actually means that FIVE MILLION homes will be sold thisyear. The only unanswered question is: Who will get that business?The media portrays gloom when actually there’s still PLENTY ofopportunity – just not as much as before.
The low hanging fruitof two years ago is now much higher in the trees.
There’s plenty ofbusiness in the marketplace – just not as much as there was duringwhat was the biggest housing and economic boom of all time. As aresult, businesses are adjusting to current market conditions, andyour company is no exception.
Less people are neededand lower inventory quantities are required. Layoffs are tough – nocompany leader wants to lay off anyone – there is emotion becauselayoffs involve coworkers and their families. Attitudes are affectedand morale is affected – it’s human nature. You will hear thewords: cutback, save, fewer, less, and “because of the economy”more often than you want. That’s part of what goes along with anyeconomic change.
How’s business withyou? Flat? Dipping a bit? When will it begin to get better?
Since no one canpredict the future, and the economic growth or slowdown answers arenot yet apparent, senior management must react to present-daysituations.
In times like this,leadership must do what they believe is in the best long-terminterest of the company. In short – leaders are doing theirbest – and they expect the same from you. You canhelp by doing your best every day. Adjust to whateverdecisions are made without reducing your level of service to yourcustomers, your loyalty to your company and your fellow workers, andyour effort or belief.
But cutting expenses orlaying people off is not the only answer – it’s just a safeguardand a response to the situation at hand. The best answer is moresales… and more profit. This is where you canhelp.
Below are 8.5critical elements in your ability to help your company and yourselfin these times. These 8.5 elements, when combined and mastered, willgain more sales now, and keep your customersloyal as the economic conditions begin toimprove.
1. Ease of doingbusiness with you. The availability of people and product. Havemore web offerings, easy access to more people, less voicemail, lessautomated attendants, more human-to-human contact, and no excuses.Get me what I need, when I need it.
2. Error-free orderprocessing. When I get an invoice, the easier it is to understandand the more correct it is, the faster I pay it. No backorders. Nosurprises.
3. The quality ofyour relationships with customers. How strong are yourrelationships? Are they transactional or interpersonal?
4. Serviceexcellence. You’d think this was a given, but often slowertimes means slower service. Less people, more work. BIG mistake. BESTPRACTICE: Double service offerings.
5. Your attitude.The way you dedicate yourself to the way you think. If you can’t bepositive for yourself, you can never be positive with and for others- both coworkers and customers.
6. Your belief.Belief in your company, your product, your service, yourself, ANDbelief that the customer is better off having purchased from you.
7. Your loyalty.The best way to get loyalty is to GIVE loyalty. From bosses toemployees, from employees to customers, and finally from customersback to you, loyalty is the profit frontier. In these times, givingwon’t always breed receiving – but the seed is planted and theroots are deep when the economy begins to rebound.
8. Helping yourcustomer whenever possible. Understanding how they are hurting,and meeting their needs as BEST you can. Offering to assist withanything from manual labor to unparalleled service – frombrainstorming ideas with them to making connections for them.
8.5 Your extra mile.What are you doing above and beyond the ordinary? What are you doingto out sell, out serve, and out value the competition? What’smemorable about you and the actions you take on behalf of others? Areyou going the extra mile for your customers?
There are otherpersonal measures that can be added to this list. Friendliness forone. Being proactive for another. But I think this piece speaks loudand clear. If the economy is down, you have to be up. You have to beready to help, ready to serve, and ready to be your best. This willnot only help others to survive, it will also ensure that you thrive.
I have one morepowerful strategy to beat the crunch. If you want it, go towww.gitomer.com, register if you’re a first-time visitor, and enterthe word ECONOMY in the GitBit box.