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Do’s and Don’ts of Running Our Business in Today’s Economy

In my consulting and coaching work I am being asked a question that is common regardless of industry, business or position.  The question is, “how do I know what action to take in today’s environment?”

We can become immobilized by all of the options available to us- if it is at all helpful I have the following Do’s and Don’ts as a guide:

Do’s

Do -Look At Your Business or Your Leadership through the eyes of another industry to find ways to operate. If you are in retail what can you learn from manufacturing?

Do- Re-connect with your customers about what they want and need. This will help you to re-focus on what your customers truly want rather than what you think they want.

Do- Get people talking. Use the social media tools, twitter, facebook, myspace and linked in are great for creating dialogue.

Do- Reexamine your business model for processes, products, and systems that are no longer working.

Do- Constantly look for ways to add value to your customers, your company, your team and all you connect with. Focus on meaningful and heartfelt interactions.

Don’ts

Don’t-  Stagnate with status quo- sitting back is a ‘wait and see’

Don’t- Stop marketing your product or service. Communicate with your customers now more than ever.

Don’t- Assume your suppliers and vendors are doing fine. Visit in person, pick up the phone, negotiate creative ways to continue doing business.

Don’t- Lose your creativity. Focus now more than ever on new revenue streams, new ways to leverage existing client relationships,

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