Now all you have to do is wait for the good times. How long will you wait? Three months, six months, till March 2010.
When will life get back to normal? From past experience the answer is never.
Business life will now be different, possibly very different to what we have experienced in the last ten years. The last ten years were in themselves totally unprecedented, None of us have ever experienced 10 years of growth before.
Waiting is the strategy of failure. You can't change the Banks' strategies, you can't force clients to do more business, public spending will happen when they get round to it.
What you can do is take action on the elements you control or have real influence.
One key area is to take action where you can influence performance. Having made all the cuts you now need to take the following three steps for decisive action.
- Create a strategy for performance improvement in all parts of the business
- Communicate this strategy to everyone in the business and the supply chain
- Implement the strategy NOW
Done properly immediate benefits will flow from taking action, the workforce will become energised, waste will be driven from the business and costs will reduce further without losing more key people. If necessary a significant performance improvement will allow you to compete more aggressively for new work.
Business Fix have the knowledge and tools to help you move quickly to transform your performance, contact brian@businessfix.co.uk or 07788 102306 to discuss or for informal advice.
Remember, waiting for the good times to return is not a business strategy.
Best wishes
Brian
PS Performance improvement is like losing weight, it is more dramatic in the early stages.
