Now what…?

Hi everyone,

I hope everyone enjoyed the holidays. 

I have been watching the Internet world the past several days, on Twitter, Facebook, as well as blogs.  Honestly, I have stayed away from the news outlets to keep out of the ‘Hyper’ media light that is going ’round due to the economy, large businesses making job cuts and just the constant drone of dread and fear.  Times are questionable right now, we all know that.  But, I keep asking myself, “What else could we have done to avoid/prepare?”

Its not the easiest question to answer.  And there is not one, single reason you can point to.  As I kept thinking of the question, it made me turn to more of what some businesses could do to protect themselves today.  My thoughts based on experiences and my opinions of what constitutes sound business decisions

For Small Businesses, one of the first things you should be asking/telling yourself is how can we re-prioritize/re-focus on our business?  This economic downturn wreaks havoc on large enterprises and presents a lot, and I emphasize A LOT of great opportunities for small businesses.  You have the flexibility to attract new customers, provide excellent customer service to clients who have been treated with status quo ‘processes’ of getting projects done for them.  Now is the time to shine, blow off the dust from your Business Plan, update it, especially the Marketing Plan section, and begin to execute new marketing ideas.  Have you jumped into the Social Media sandbox yet?  You should.  Take the time to educate yourself on some of the top social mediums out there, such as Twitter, LinkedIn, even Facebook.  Get your presence out there, gain a following, and you will extend your previous geographic boundaries to new clientele.  They are out there, and they are just waiting for you to contact them.

For the Large Enterprises, it is time to re-evaluate why/how you became so bloated and cumbersome.  But, don’t look down at the worker bees, look at the strategic players who set the course of gluttony.  I am not knocking big business, its just a fact that resting on your laurels will come back to bite you.  Its time to re-invent and re-invest what you have, not just flush the toilet and say, “we need to start over, sorry about that.”  Instead, own up to your mistakes, take the hit in the gut, but, learn from it and come back stronger.  Too many enterprises have accepted defeat due to stock prices, profit margins and begin to play the blame game.  Its PR 101 time.  And using one of my old Intel euphemisms, “Lets polish this turd ’til it shines,’ is just a duck and cover my a** move used by many high levels. 

Enterprises now have a chance to learn/re-learn what it takes to be a fast moving, agile player on the field by watching how SMB’s create their game plan and execute. 

Until next time, may your thoughts become actions and may your failures become key learnings of success.  Here is to the opportunities in 2009.

Matt