These are good times; the second halves of most decades are. While individual segments such as mortgages, housing and manufacturing might be suffering at the moment, most industries are doing well and the prospect for the future is bright. This is particularly true for those industries operating in the B2B segment (Business 2 Business).
When things are going well, those at the top usually don’t have time to spend thinking about the aspects of the future that aren’t so pretty, because they are so busy trying to manage the growth and problems of the moment. Which makes it all that more important to create a plan to refer to when the local, regional or national economy slows down, or when a particular segment, whatever it might be, hits tough times.
A good plan begins not with a goal, but gaining an understanding of the facts. For every organization, that means developing an early warning system, or series of early warning detectors that give advanced symptoms of what is about to take place. These are leading indicators, and every company has unique ones. Leading indicators might include a slowing in the number of appointments that the sales force is able to secure. It could be a slowing of the number of proposals that the sales force is developing for presentation. It could be that repeat orders are slowing. It might be the number of web site inquiries or the number of telephone calls that are generated through advertising. Whatever the leading indicators are, they should be identified and monitored.
The second step is to set a goal that focuses the organization to address the situation. Lincoln did not first say that his goal was to preserve the union; before he did that he gained an understanding of the facts not only through personal observation but by sending men he trusted to be his eyes and ears and to report back to him with the unvarnished facts so that he could set a goal.
The goal has to short, simple and easily understood by everyone in the organization. A good example might be “retain every client.”
In the movie “Remember the Titans” the defensive coach calls the team to the sideline and tells his players that the opposition is not to gain “another yard.” This is short, simple, easily communicated and most importantly, understood. The goal will vary according to the situation, but a rallying call has to be established by the leader.
Next, take an inventory of what is available now to deal with the problem, and what might be available in the near future. Add to this inventory a candid list of dangers and weaknesses.
Another way to phrase this step is to perform a SWOT (strengths, weakness, opportunities, threats) analysis. A SWOT analysis is an all purpose, all powerful tool that many at the top could use more often. It is also an excellent vehicle for educating others about a given situation.
The fourth step is to “turn old business into new business.” What are the possibilities for going to clients and partnering with them to create a stronger alliance for the future, so that both parties can benefit in the long run? For example, when tough times hit the airline industry, GE, a manufacturer of airplane engines, began partnering with airframe manufacturers and the airlines themselves.
Fifth, create something tangible to provide to clients. A strong and visible symbol will be long remembered; Lincoln approved the continued construction of the US Capitol in Washington DC during the midst of the Civil War because he said “If people see the Capitol going on, it is a sign we intend the Union shall go on.” A visit of a top executive to see clients is a tangible sign, as is a walk through the factory floor.
Finally, break ranks and be bold. Far too many organizations face an uncertain future by hunkering down, doing what they have always done, and hoping that a difficult economy or tough times will just do away.
In a perfect world, creativity in organizations would be at every level. Unfortunately, those at the top have the most invested in a successful future and so the burden of being bold and doing what has never been done before must come from.
The leader is ultimately responsible for having a plan when things go from good to not-so-good. What’s yours?
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