While there is widespread disagreement as to if the U.S. economy is on the edge of a depression, a recession or is just experiencing an “anxiety economy”, no one can argue that the financial crisis is not having a huge ripple effect and its going to take years to work out.

Rick Erling, President of a CEO Coaching and Business Performance Improvement firm adds “Today’s uncertain economic times are forcing all executives, managers, and business owners to adopt new strategies for navigating through the current business downturn. At times like these many companies prefer to move into a survival strategy to ride out the storm.

Survival strategy, while conservative, has one underlying problem. In today’s hyper-connected economy things can unravel quickly and when your business is not growing and improving it is falling behind and headed for extinction. Keep in mind that even though your business may be slow today, your business will return to profitability in the future, IF you do what is necessary to survive today.

Business performance improvement is attained by integrating financial management, strategies, marketing, and sales to maximize corporate revenue growth. We use a copyrighted methodology to advise CEOs on action steps to take to grow revenues, consult with management staff on best practices and train sales and marketing teams on tactics and strategies that put your business value in front of you so your prospects see you differently than your competition and take action steps to buy.

So, what are you going to do? Let employees go? Cut back on marketing? Squeeze your current clients for more money? Yes, you can do all of this, but is that going to help? What can you specifically do during a recession to grow your business profitability?

“A recession is when your neighbor is out of work. A depression is when you are out of work.” Rick Erling

By: Rick Erling

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