URL: http://www.esparzaspeakers.com/blog/index.php/view/28/Do_You_Know_if_Your_Company_is_Ready_for_Recovery

Do You Know if Your Company is Ready for Recovery?

Bob Gordman, one of the recent additions to the Esparza Speakers family, has some timely and thought-provoking ideas for you and your audience:

The recession will end, although at this point in time not even Nobel Prize-winning economists can tell you when. So instead of wringing your hands and bemoaning the fact that your company's sales and profits are down, look ahead to the recovery. A rising tide lifts all boats is one of the great untruths in business. Some companies who were marginally profitable during good times and managed to survive the recovery won't necessarily prosper when the economy starts its upward trajectory.

Business owners and executives can take steps now to insure that their companies will be more profitable than before the recession. Over the next several months, I will write about the steps you need to take to be ready for the economic recovery.  Putting together and executing a viable business plan is not easy. However, if you do the hard work you can build sustained, profitable growth for your company.

The first thing you need to do is assess where the company is right now. Here are some of the questions you need to ask and answer honestly.

• Does our company have a Super Sweet Spot that separates us from our competition?
• If we don't have a Super Sweet Spot, what are our unique customer-relevant strengths that can be developed into one?
• Do we know the attributes of our Core Customers and their rules for doing business with us?
• Do we have a plan to go after Must-Have customers who have the same attributes as our Core Customers but are doing business with our competition?
• Is our marketing/advertising actually increasing sales and profits?
• Are we hiring the right employees?

Don't just answer these questions in your head. Write down the answers on a sheet of paper that you can refer to as you asses if your company is ready to take advantage of the economic recovery.  Ask people in different positions throughout your company to answer these same questions and compile the results. This will give you a broader analysis rather than just your opinion.

In a future post, Bob will tell you how to determine if your company actually has a Super Sweet Spot and the steps you need to take if you don't have one.

Bob recently added a new keynote to his program options for conventions and conferences. The presentation outlines the steps management can take to make their company more profitable than it was before the recession. Bob is now scheduling dates for 2010, so to inquire about his availability and to book him for one of your upcoming events, just give Jane a call at 703.243.1620, or email her at info@esparzaspeakers.com.