Signs Of The “New Normal.” Deal With It.

Many business owners are waiting for things to return to what things were before the economy nose-dived in early 2008. But what if they don’t return to those times. Much has been written about “The New Normal-“ what we are seeing now is what we get: high unemployment, people dropping out of the labor force, a rise in the stock market to record levels, consumer spending is up one month and down the next, etc. But there are more signs of The New Normal that are even more difficult for business owners to deal with: working twice as hard for revenue that is flat; large competitors diving down into smaller target markets with low ball pricing; and, perhaps the worst sign, being very busy submitting multiple proposals on which prospect decision time frames stretch on for months and even years. It’s almost like proposal frenzy and the resulting non-decision time has become a substitute for actual progress.

So, what to do? First, embrace the situation and stop hoping things will return to what they were. Even if they do, it is likely they will be far different that what you experienced before. Second, take the opportunity to retool your business for they way things are today-top grade your staff, become more efficient and make sure your marketing programs are keeping your pipeline full. And, see if you can find a way for your prospects to determine the cost of delaying the implementation of the good things your proposals will bring them.