• Steps to Survive Uncertainty

The economy appears becalmed on a sea of uncertainty. The banking crises started this fiasco, but it has rapidly been complicated by a questionable stimulus package, the Auto bailout (or sellout) and a pork-laden budget. The government is spending tax money yet to be levied on our grandchildren. Our Congressmen have long since stopped listening to their constituents. Our President says we’re out of money and the only way to solve the problem is by printing and spending more on things like universal healthcare, a la Medicare and Medicaid. It isn’t a Republican or a Democrat problem. It is a government problem. They have all overstepped their boundaries and need to be sent packing as soon as possible.

With the government continuing to print and spend, how long will it be until we experience hyperinflation?

Overseas, Korea is threatening with nuclear weapons. Israel and Iran are getting ever closer to a showdown potentially with nuclear weapons. Other Arab countries are developing nuclear capabilities. Our President has halted our nuclear defense activities and wants to dispose of our nuclear weapons!

On the business front, we have one of the highest corporate tax rates in the world and more government regulations (OSHA, EPA, etc.) than our foreign competitors. Our government wonders why manufacturing jobs are going overseas. Duh!

Seemingly, the world has gone mad all at once.

How in the world do you run your business in a world that has gone crazy?

1. Pay attention. Watch what is happening in Washington and Overseas. Watch the markets, employment and especially commodities. Be vigilant for threats and opportunities.

2. Create Scenarios for best and worst case possibilities. Plan for something in between. When facing uncertainty, things usually are never as good as you would like nor as bad as might be.

3. Focus on Customers and Employees. Hold your existing customers close and expand that base if possible. Hold your employees close as you will need them when this turns around. Now is a great time to cross train and build skills in your employees that will pay dividends when the economy turns, and it will turnaround at some point.

4. Maintain Quality. In times of uncertainty, people pay close attention to their pocketbooks. When they do buy, they buy value. This is a time when you can build on your reputation for quality. We will all be raising prices again when inflation kicks in.

5. Build Agility. Regardless of where we have been, our future is going to be dramatically different. The survival of your organization is going to depend on it’s agility in adapting to the coming changes.

6. Be Cautious. Now is not the time to take a flier unless you can afford it under the worst circumstances.

• Emerging Leadership Circle

Tough economic conditions mean we all have to tighten our belts. Training is one of those areas that will feel the pinch, but it doesn’t mean that you have to eliminate training all together. Now is the time to train people and gain a competitive advantage when the market rebounds (See points 3 & 5 above.) Emerging Leadership Circle is a new online approach to training featuring a number of recognized experts augmented with special guests to provide current training at affordable prices that you can access from your computer, when and where you want. Click here to get your free trial and learn more about Emerging Leadership Circle.

If you need a speaker, facilitator or trainer for an
upcoming event or know of someone who does,
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