Technology is moving at an unrelenting pace, and the world is struggling to keep up. By shear numbers, some countries have an advantage. This short (5 min) presentation puts things into perspective.

Labels: economy

One day last week as I was driving home I had a little meltdown. Being a bit of news junkie I had allowed myself to become obsessed with the financial collapse of seemingly stable institutions, and the resulting panic that was setting in. I am of the opinion that trickle down economics works basically one way- when things are bad, you-know-what trickles down! So I managed to work myself into a state about the end of my financial world. Anyhow, I got home and went on a self-imposed news fast. No news TV, no incendiary commentary, not even baseball. I allowed myself an evening of cooking, guitar and walking to de-stress from the past few days of news.

The next day I felt better. I gave my mind a chance to work on its own, to work around what a change in the economy might mean for my business, and what I might do about it. I also realized that I am not the only one in this predicament. Many small business owners must be seriously concerned about what all this means for their future. Many of them are our clients.

The tendency at times like these is to look for any and all expenses to slash. I think that the exercise of looking at everything is appropriate. If things do go south we have a plan in place for reducing expenses as needed. But my goal is to use the panic as an incentive to get a bigger share of the pie. As business owners, we have all worked too hard for too long to let a slump kick us in the teeth.

So what are we doing? Going back to the marketing basics. Looking at our prospect lists. Looking at where business is coming from and stepping up efforts to market to those segments. Looking at our messaging to see if it reflects where we are right now. Effective marketing doesn’t have to cost more, but it requires you to think more.

So I have been thinking. Less news. More thinking. Here are a few things we are doing:

• Reviewing our web site to be sure the content reflects who we are today and delivers the most recent evolution of our message (when was the last time you actually read your own web site?)
• Identifying new target markets based on recent trends in our business. We are looking at what services are most profitable, and how we can leverage them.
• Developing a marketing calendar that is attainable. Marketing requires activity, and without a schedule those activities can easily be placed at the end of a long to-do list.
• Spending more time with our blog! Writing about your experiences and insights with your business helps establish you as an expert in your field. It also helps you clarify and grow your own perspective of your business. It makes you more self-aware.

That’s my story of using perspective to alleviate the panic. A creative mind coupled with good information and some smart work can be successful in any climate.

Labels: economy, Koa, Marketing