Survive and Thrive Series: Top Five Strategies for Today's Tough Business Climate
Brian Patrick Cork will speak at Radford University's Entrepreneurial Summit on Tuesday, October 28, 2008. He graciously agreed to create a guest blog post for Handshake 2.0.
Getting your business under control is critical in tough times. There is no point in growing a business that does not have good cash flow, profit or leadership. This is a series around five strategies that should make your business grow. Every leader and all businesses are different. So, you need to decide which activity to tackle first. But, all five strategies are equally important. And, the need for speed and determined execution is more critical today than "normal times" when it's easy.
Part one of five
Retain Your Best People and Maintain a Culture
In most businesses that employ people, you have a portion of your staff that you are lucky to have; a comparable portion you would be better off without; and the remaining group that falls somewhere in-between.
In tough times, you must protect your best people - the top-performing, best potential group. How can you make sure you keep the employees you need? Are they under contract with you? Do you reward them? Do you tell them how much you appreciate their efforts?
Ideas...
Communication: During uncertain periods, you must communicate with your staff on a routine basis. This practice needs to be consistent up-and-down the entire chain-of-command. Plug into the rumor mill; address fears before they have a chance to be voiced. Clearly articulate the business plan and go-forward company strategy. Make sure everyone knows their part and what's expected of them. Use this time to reinforce the company's values. Values drive attitudes - which, in turn, drive behavior (and results).
Maintain Energy: As a leader, when you are energized, your business is energized and more productive. Lead by example. However, you must develop and guard your energy levels and measure your efforts. Time management for you and your people is essential and must be addressed with consistency - especially in tough times. Twenty percent of what you do generates eighty percent of what happens - to the benefit of your business.
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Many of the events at Radford University's Entrepreneurial Summit are open to the public. The luncheon at which Brian Patrick Cork will speak is invitation-only.
Please feel free to contact him directly:
Brian Patrick Cork
Cultural Architect
404 451 4799 iPhone
877 843 2675 toll-free
brian@bchcroi.com
Brian Cork's Web site - brian cork Human Capitalâ„¢
The Human Capital Blog - Radford University Entrepreneurial Summit
Brian Cork's Blog - The Unsinkable Brian Cork










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