Monday, November 10, 2008

Don’t wait around for your own bailout

After a long slog of an election cycle, we at last have a new president-elect of the United States. The campaign is behind us, but one huge factor in the outcome will be with us for some time: the current gloomy economic climate.

Late last week, as Barack Obama met with economic advisors to consider the crisis, we got more bad news—this time about rising unemployment and the failing American auto industry.

So, not good, obviously. And it makes sense for Obama’s team to start tackling these issues right away. However, something we’ve said before on this blog bears repeating right now: Don’t leave your company’s future to actions or assistance from Washington.

Rather, survival and success depend on your company’s will, vision and ability to compete. There’s never been a more critical time to carefully examine what you do that customers value and how you can most efficiently provide it. Then, of course, do everything you can to convince people to buy your products and services. In other words, focus not only your operations, but also sales and marketing efforts.

Regardless of what the new national leadership does, it’s your leadership that will determine the future of your company.

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