A few days ago at the Fortune Small Business Growth Summit in Atlanta, GA, Tom Peters, the keynote speaker and co-author of Search of Excellence, polled the audience of 300 executives on how long they believe the down turn will last. Over 57% believe that it will last at least 2 years. Over the next few blog entries, I will share practical pointers to help firms and individuals proactively and successfully move through tough times.
People. The most important element in business and life is PEOPLE. Yet when times get tough, people may be what you neglect. You can turn lemons into lemonade with the right chefs. Tom Peters and I recommend maintaining:
- Integrity (Do what you say you will do with honesty)
- Dignity (Even if you cut back or make changes, do so in a way that helps your firm retains its good reputation and helps people maintain their dignity. Give choice if possible)
- Communication (More open communication is the best. People appreciate knowing the situation and participating, if possible, in creating the solutions)
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