Yesterday during a phone coaching session with one of the franchising groups I facilitate (our monthly lunch-and-learn discussion), someone commented they’re awaiting the economic turnaround to occur before making a big decision about an opportunity for their business. This person suggested there is too much uncertainty right now to commit without knowing when things will get better. I responded they might want to consider ordering off that menu now in order to position themselves ahead of everyone else when a better day arrives.
You have to eliminate inertia to achieve results – in business or boiling water. While this is not the time to spend lavishly at five-star restaurants, it’s also important not to be paralyzed by fear and eat TV dinners. The objective, during high-flying times and periods of hunkering down, is to improve the bottom line. If you’re like most businesses, you’ve carved all the fat out of expenses. That means the only way to improve profitability is to increase sales, and with your customers in a similar dollar-menu mindset, you’re going to have to take market share from competitors in order to enjoy your desserts.
During economic expansion there’s room for everyone at the dinner table… and the feast is extravagant. Today, it’s a blue plate special… and there aren’t as many place settings. To ensure you don’t go away hungry, you need to be assertive and show up early while others are standing around waiting on an invitation. Eventually, everyone will be clamoring to get inside the most popular establishments; you’ll already be there dining on the delicious entrée.