| On the first Friday of the new year Wall Street | | | | to stop worrying about the future and the impact |
| suffered dramatic falls. Weaker than expected | | | | of recession on your business? |
| job reports and a sharp rise in the December | | | | 2) Would you like to increase the frequency, |
| unemployment rate has heightened fears of | | | | volume, and profit of each purchase from existing |
| impending recession in the USA, the world's | | | | clients? |
| largest economy. | | | | 3) Would you like to attract more high quality |
| Technology behemoth Intel increased American | | | | leads and increase the number of leads converted |
| market fears after Intel fell eight percent. | | | | to profitable paying clients? |
| Investors are fearful computer sales will lead a lag | | | | 4) Do you want to significantly boost referrals? |
| in overall corporate spending. | | | | 5) Would you like to stop clients leaving to |
| The head of OPEC predicted crude oil prices will | | | | competitors? |
| remain high for at least another three months | | | | If you answered yes to any of these questions, |
| because of problems in Nigeria, Pakistan, and the | | | | now is the time to do something about it. In fact, |
| credit crisis caused by the mortgage market | | | | the best defense is usually a strong offense. |
| collapse in the US. | | | | Sitting around doing nothing is not the answer. |
| On top of that, the Dow Jones fell to the worst | | | | Instead, look for ways to change your business |
| three-day start to a year since the Great | | | | model to coincide with the changes taking place in |
| Depression in 1932. | | | | your marketplace and the global economy as a |
| The mortgage credit crisis, rising petroleum costs, | | | | whole. |
| and looming recession almost guarantee consumer | | | | Planning for the coming recession doesn't require a |
| spending will hit a significant slowdown too. | | | | battery of consultants or years of market |
| All these problems prove the US economy is on | | | | research. Really, there are just three steps |
| shaky ground. | | | | required: |
| That's why I predict 2008 will come to be known | | | | Step 1 - Evaluate And Diagnose Your Current |
| as the year of greatest turmoil and loss for small | | | | Marketing Position |
| business. It will also become the year of greatest | | | | Step 2 - Implement A Proactive Marketing Action |
| opportunity for companies that proactively | | | | Plan |
| implement proven business growth strategies, | | | | Step 3 - Track And Measure Results |
| instead of sitting around hoping things will get | | | | In a nutshell make a complete assessment of |
| better. | | | | your company's potential, determine where |
| That's because the next 12 to 18 months will be a | | | | improvements can be made, then select practical |
| period of considerable change. Globalization, a | | | | and low or no expense strategies to strengthen |
| softening U.S. economy, and increases in | | | | your business model. |
| petroleum and energy costs will make remaining | | | | Taking these three steps and making |
| agile in already competitive markets a challenge. | | | | adjustments to your current marketing processes |
| Only companies that have built high performance | | | | will help improve overall profitability regardless of |
| organizations that can react quickly to change will | | | | what is going on in the rest of the economy. |
| survive and prosper. A key to that survival is | | | | Hopefully it's obvious, the coming recession |
| capitalizing on new marketing opportunities. It also | | | | doesn't have to be a case of 'doom and gloom' |
| means making changes to decommoditize your | | | | for your company. Even during the Great |
| company in your market's eyes. | | | | Depression there were companies that came out |
| How do you know if your business is resting on a | | | | of the Depression and continued to prosper. |
| shaky foundation? Here are five questions that | | | | How the next 12 to 18 months turn out for you |
| help determine if your company needs or should | | | | and your company largely depends on the choices |
| make adjustments: | | | | you make right now, early in the game as the |
| 1) Are you an independent professional, service | | | | new year gets underway. And before the |
| business owner, or marketing director who wants | | | | recession is officially reported. |