To succeed in life, you’ll probably need to have an income of some sort. That means in one way or another, you’ll be involved in business. In our current economical downturn, businesses are cutting back and jobs are scarce, but it doesn’t have to be that way.
Let me explain how business can thrive in any economy.
In a poor economy, business sales go flat and cost becomes a major factor for business survival. When sales are down the only option is to trim the fat. That means under-performing employees are laid off. Under-performing subsidiaries are sold to stop the bleeding. Non-essential positions are cut or outsourced to save costs.
Then everyone has to tighten their belt and hold on…
Who’s in control here? The business or the economy?
There is another way…
Many would say that a poor economy leaves a business no choice, but there is a way to make the business more efficient that keeps customers coming through the doors even when the chips are down.
In a bad economy, the problem is competition. The fewer sales are spread out over many competitors. When that happens, the business that can cut costs and has the best operating model will usually survive.It’s a natural cycle. When times are good, everyone opens businesses, when time are bad, only the best survive. Those who can’t make it through the down-turn close up.
But there is a way to rise above survival mode in hard times.
Imagine if your business was a monopoly in your field. Everyone would have to come to you, so tightening the belt would be less of an issue. But as long as there is business, there will be competition because competition makes business better by forcing improvement. So the key to survival is becoming the best in your field.
There is one place every business can improve that costs nothing but improves every aspect of the business. That is business communication, but in this case, it’s not what is said, but rather HOW it is said.
Let me explain by getting into the core of business.
First a question; Why does business exist? If you said to make money, your business will fail. I understand that the idea is to make money, but if your focus is on money, nobody will do business with you.
Why? Because of the core reason humans do anything - problems. Remember that every action is taken in order to solve some problem. Business is an action and people buy only if the product solves a problem. (desires are problems - if you are married, you know this.)
So if the business has created a product or service for their customers to purchase, why will they buy? Yes, to solve a problem.
So why does business exist? To solve a problem that a certain market has… and make money doing it.
Rule one: Keep your eye on the ball, which in this case is the problem the business solves.
Rule two: Make sue everyone in the company knows the problem the business solves… But here’s where the communication comes in…
Make sure the employees know how their individual jobs are part of the solution to the problem. Knowing that will influence how they communicate with each other and customers. That one bit of information makes a world of difference when it comes to business survival.
One more thing: If your mission statement doesn’t address the problem your business solves for the market and how it solves the problem, trash the mission statement and make one that does. Your employees will understand the new one.
That’s it for today
Tracy
The search for the meaning of life is something that haunts people for often their whole lives. For those who have discovered their life's purpose, success and happiness follow. Goals are easy to set and achieve. Their minds are no longer bothered by that one overshadowing doubt about their purpose.