Growth Summit – Opportunity in this Economy
MONDAY, APRIL 20TH, 2009
Attending the Fortune Small Business Growth Summit
here In New Orleans, and is our customary procedures the Gazelles coaches meet the day before for learning, connecting, updating and polishing our skills. Mastering the Rockefeller Habits
, Verne Harnish lead off the first hour, and he provided the international insight of his year traveling to India, China, Barcelona, Dubai, Indonesia, Australia and other parts of the world. His perspective is enlightening.
The present economy is offering a once in 70 year economic opportunity. The next 12-18 months will provide for you the opportunity to crush your competition if you can take advantage of it. As I talk to my clients I’ve found that most of them are cutting back where ever they can. In many places that’s good and prudent. In fact most clients are asking themselves after making all these cuts why they hadn’t done these things before. Verne indicated that one of the client’s he spoke to had found $200K in savings, and noted that despite not beating last year’s number they were going to make more money this year than last year. The key is where and what you are cutting. If you haven’t signed up for the Guy Parsons video on Execution
you’re missing a slew of ideas on how to get waste out of your business, increase efficiency and cut costs dramatically.
The question here is not so much are you going to grow revenue in the next 12-18 months, it’s what you do in preparation to move the needle forward so either as you competitors pull in their horns or the economy heats back up you are in a position to capitalize.
If you’re not looking at this present situation as a business opportunity than you need to change your reference. No matter where you are, no matter what kind of impact this economy has had on you already recognize that this is a once in a lifetime opportunity to blister ahead of your competitors if you do the right things now.
If there’s one thing that I gained from reading Harry Dent’s The Great Depression Ahead
, it was these corrective changes in the economy provide enormous opportunities for reversals of fortunes and changes in the business climate. Those who see this as an opportunity to change the way they’ve been doing things and get better will prosper. One of my client's who is here attending the conference indicated that he had an employee who failed to help another of his staff, and the result sent the employee to the hospital. It was poor judgment, and if this had been his first indiscretion he might tolerate it, however with the present economy he’d decided he’s going to search for someone now to replace him who is more a team player. This is the kind of thinking that the present economy demands!
Those Who Will Make It Those Who Won’t
Verne Harnish was asked what will be the difference between those businesses who will make it and those who won’t make it through the economy. He simply replied two things will distinguish those who will make it,
1. An insatiable need for learning.
2. An uncontrollable penchant for action.
Ask yourself how you are doing, and with this frame of reference if you will or won’t be here in the near future. I expect to get a lot more from the Fortune Small Business Growth Summit
and intend to provide you with updates as the Summit unfolds. Tomorrow’s first speaker is Chet Holmes and I expect to bring you some of the highlights of his presentation. Dave Kurlan of Objective Management Group Inc
spoke to Gazelles Coaches today and I intend to provide some of the highlights of his comments and insights into improving your sales team and process shortly.
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