Where did the summer go? In the haze of the many golf tournaments I attended and construction events the summer slipped away almost as quietly as the “economic down turn” did.
I am not saying we will not have a few more days of summer weather to enjoy between now and the end October as I am sure a few companies are still struggling to recover. But as the colder weather moves in the hotter economic environment is fast approaching.
I recall this time last year people were waiting for the Canadian construction market to burst and when it did a lot of companies were preparing to go bust. Being in the newspaper and publication business I talked with a lot of people who were looking to be very cost conscious in 2009 and watch every penny that was spent. Early this year many people were waiting for work while others were busier then ever, why such two very diverse sides to the status of the economy?
The answer seems easy to see now. The busy companies were the ones who invested in training and development of their employees. They generally exceeded their customers’ expectations rather then just meet them. They were leaders in their field in one or more area. These areas included technology, networking, marketing and customer satisfaction. I like to think of the past year as the thinning of the herd. Like in the animal kingdom a lioness hunts down the weak and young prey first before they go for the strongest of the group. With a market that was so overwhelmed before everyone had work simply because the jobs needed to get done. When there was less work you could no get the best to do the job vs. the rest.
Now a lot of the younger or weaker companies that have survived had learned a few things from this little crisis we are leaving. Be innovative, in everything you do. From marketing, hiring, and retaining staff to nurturing your existing client base. Companies are looking at how they attract new customers and how to stand out from the rest. Today’s new environment means understanding social media and realizing the days of the yellow pages being enough to get your name out have disappeared.
How did you survive the past year? Did you seem a boom or bust in your business? What did you learn and how did survive or in some cases flourish? Share your story with me and we could do a profile on your business.
I am not saying we will not have a few more days of summer weather to enjoy between now and the end October as I am sure a few companies are still struggling to recover. But as the colder weather moves in the hotter economic environment is fast approaching.
I recall this time last year people were waiting for the Canadian construction market to burst and when it did a lot of companies were preparing to go bust. Being in the newspaper and publication business I talked with a lot of people who were looking to be very cost conscious in 2009 and watch every penny that was spent. Early this year many people were waiting for work while others were busier then ever, why such two very diverse sides to the status of the economy?
The answer seems easy to see now. The busy companies were the ones who invested in training and development of their employees. They generally exceeded their customers’ expectations rather then just meet them. They were leaders in their field in one or more area. These areas included technology, networking, marketing and customer satisfaction. I like to think of the past year as the thinning of the herd. Like in the animal kingdom a lioness hunts down the weak and young prey first before they go for the strongest of the group. With a market that was so overwhelmed before everyone had work simply because the jobs needed to get done. When there was less work you could no get the best to do the job vs. the rest.
Now a lot of the younger or weaker companies that have survived had learned a few things from this little crisis we are leaving. Be innovative, in everything you do. From marketing, hiring, and retaining staff to nurturing your existing client base. Companies are looking at how they attract new customers and how to stand out from the rest. Today’s new environment means understanding social media and realizing the days of the yellow pages being enough to get your name out have disappeared.
How did you survive the past year? Did you seem a boom or bust in your business? What did you learn and how did survive or in some cases flourish? Share your story with me and we could do a profile on your business.
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