Orientation on basic pillars of the business
Strong business roots stabilise a company. Therefore, the leading companies are primarily focused on strengthening competitiveness and skills. Their current priority is to have mastered skills in seeking new clients, maintaining key existing clients, time management and abilities to negotiate. By focusing on the basics, they are able to maintain or possibly even increase growth, despite the turbulent times. On the other hand, a number of average companies in crisis situations begin to panic and lose control precisely over things their business could stabilise.
Strengthening skills through training and development
Market leaders confirm they are increasing the amount of training and other activities to ensure their sales teams are tuned and prepared to use the paralysis of potential competitors. They encourage their sales teams to stay focused, be in contact with clients and build stable recession resistant bonds. Strong companies know that with good preparation they can gain an even larger market share, while their competitors are procrastinating. It is rather like investing in stocks when their value is falling: ultimately, you will gain more by investing wisely and in time.
More emphasis on achieving results
In a crisis, while a number of companies try to compete at transaction levels and overbid just to get a larger slice of the pie, market leaders react somewhat differently. They focus on problem solving for clients in order to achieve measurable business results. Thus they not only protect their market share and margins but also build their good name.
Harnessing strengths
The best companies transform their strength into rocket fuel and concentrate most energy there. They also explore their weaknesses, which could put them at risk, and even more intensively seek ways to eliminate them. In short, they do not wait for weaknesses to catch up; instead, they behave proactively, combining both attack and defence.
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