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MD Contractor to Education Sector

Did you have a Good Recession?


Julia Roberts Shows the Way: Did You Have A Good Recession?

What are you talking about? No one asks that....but they should. Recessions are great times to change.... to develop, to grow, to stretch the gap between you and your competitors.
And it doesn’t matter if you are a company, a team or an individual. Everyone at all levels should ask the question of themselves and their teams, of their companies and their competitors, of their suppliers and their customers. Winners seek out advantage. They look for disproportionate gain. And recessions are great times to get that advantage.

So the question stands: did you have a good recession? And before you say “the recession is not over yet so I don’t know” ...think on this: if you have not already been taking advantage of the opportunities available then you’re behind the game.
Winners do two things at the same time: they run the day job effectively and they plan for and deliver sustainable growth at the same time. They manage the Urgent and the Important. They do it throughout the economic cycle.

As leaders, winners know how to balance effective working on driving cash today with delivering new business tomorrow. Balanced thinking and balanced actions. You should not still be hunkering down and worrying about the cash flow at the expense of all other thoughts. You should already have made your “survival” moves and now be planning for the upturn. Now is the time to balance survival thinking with growth thinking.

What has this recession done to change your customers’ needs and how they value your current and future propositions? If you don’t know you can be sure one of your competitors already does. And if you think it is simply “lower prices” then your thinking is too narrow. Customers always want to get lower prices from you. But in reality what they really want is reduced overall costs. So think outside of the standard proposition to how you can add greater customer value by repositioning what you offer and how you offer it to existing and new customers.

A lesson from "Pretty Woman"

In the film “Pretty Woman” Julia Roberts walks to the car of a potential “client” advertising her proposition in her gait...she knew her target customer, she thought she knew how to “hook” him. Her advertising had landed her a catch: Richard Gere in a Lotus. But Gere was no ordinary “client”. Gere’s needs were not as expected. He only wanted directions to his hotel. She listened to his needs, changed her offer immediately and showed him how and where to drive the Lotus. She still made money. In these recessionary times you should already have changed your propositions – if not you’re missing differential advantage.