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You Can Improve the Performance of Your Business in Confusing Times

Are we or are we not in an economic recovery? You must answer this question in the context of how these confusing times are impacting your business. Here are some ideas from business owners and CEOs for moving your business forward while others around you are stuck.

– What is really going on in the territory that your serve and want to serve? What do the economic development people say? What do your customer contact people say?

– Renew your Vision for your company. Where do you want it to be in 2-5 years? How will you and your colleagues get it there? Why do you do what you do?

– Re-tool the staff. Are your people top-notch? Are they in the right jobs? Do the times dictate changes?

– Determine ways to increase market share through marketing, sales, acquiring competitors or other businesses that fill strategic gaps.

– Meet with customers. What more can your business be doing for them? What outcomes do they want that you can help them realize?

– Talk with former customers. What can your business do for them and what outcomes can you facilitate for them?

– Analyze any long-term contracts you have with your suppliers and service providers. Inquire about rent and price reductions and potential product enhancements. What can they do to help you realize the outcomes you want?

– Would a new location energize your company and staff? Would it increase your territorial reach and/or expand your market share?