With all the talk in the news about the current and future state of our nation’s economy and the global implications, any business or organizational leader is bound to be nervous. The unknown can be very scary and can cause many sleepless nights. The challenge then becomes, what can be done about it?
A common reaction is to fall into survival mode – that state of being driven by fear and the reality that something must be done to stay afloat. Many companies tighten their belts, hunker down, and wait. They reevaluate cost structures and find ways to cut unnecessary expenses. In some cases, following lagging sales, they compromise or lower their prices for products and services. The mixed results will most likely affect long-term viability.
I would suggest that a better direction is to “strive to thrive.” Companies must position themselves for new sales opportunities, new ways to manage and keep your clients and employees top of mind.
The motivating factor of this philosophy is that a company must be at the top of their game in any business economy or under any competitive condition. At Huston Patterson we take a proactive approach rather than a reactive one. Here are some of the strategies we use to ensure we “strive to thrive.”
Your first goal to move in a proactive direction and should be to break the order taking mentality. Utilizing sales, project management and client services can be very effective in this role, allowing sales programs to be driven by proactive market development opportunities. Same should go for your partnerships with vendors. In today’s world the supply and demand pressure are all but controlling our industry. Key partnerships are vital to maintaining your footprint, in packaging specifically when it comes to the paper market.
Identifying your target clients and understanding their needs is necessary to stay ahead of the supply chain hiccups we are experiencing. This is a process that takes time, but the outcome is more beneficial than relying on intuition. Study everything from current economic conditions to past trends. Gathering the facts can be done from many angles. For example, clients, vendors, industry leaders and specialists are all great resources. At the same time, learn everything possible about the unknown – potential clients, material resources and competition.
A final strategy to consider is to utilize everyone that is involved with the final product. Sales is a process that requires “teamwork.” Our team is comprised of all our employees, clients, and vendors. Successful companies have a “partnership” mentality with their clients and vendors that is spearheaded by the CEO or President. When relationships are made at higher levels within an organization, greater sales potential and purchasing advantages may be discovered. Combine that approach with an efficient, lean manufacturing environment and a commitment to bring value to the marketplace, I would say you’re set up to ride the wave!
I urge you to “strive to thrive” for the peace of mind that can result in the confidence and willpower you need to tackle an uncertain future. The old saying, “when you get a lemon, make lemonade” holds true. You can take today’s challenges and turn them into tomorrow’s opportunities.
For more tips from me, Tonya Kowa-Morelli, and the Real People of HP, explore our additional blogs and videos, or contact us directly at Huston Patterson.