Tips for Thriving In Hard Times

Tip # 1: Focus on your opportunities not your problems.

Last week I met with a client, the CEO of an impressive and successful company who is one of the best managers I know. He has recently been recognized as such by a prestigious organization of his peers. During the past couple of years the company has more than doubled sales to about NIS 450,000,000 - roughly $130,000,000. The company has been nicely profitable and has always scored near the very top of its category across numerous parameters.

Then came the sliding dollar.

Like most good leaders, he and his management committee are working hard to be a bulwark between the hard financial reality and the company’s many employees. They really hope that their loyal employees (and in surveys their employees have self-reported to be amongst the most satisfied and committed in their industry) won’t have to absorb the brunt.

Now, not every company will be able to protect their employees. However, here’s something he shared with me that every CEO and executive can implement immediately:

“Dov, at our last management meeting we realized that we’ve been spending so much time dealing with problems and not enough time on our opportunities. We decided that beginning with our next meeting we will begin with the opportunities and spend the bulk of our time on those.”

I don’t believe he has studied Peter Drucker, but this is one of Drucker’s classic refrains: Focus on your opportunities not on your problems.

It sounds so simple, yet we often fail to do it. We can all do this, no matter what size our companies. We MUST all do this. We should all be investing at least as much time on opportunities as we invest in our problems. (In my view, Drucker’s genius was in spotting what was blatantly obvious and articulating it in a way that everyone can see it.)

Problems act on us and won’t go away. The opportunities require discipline and a decision that “We are committed to find the opportunities in our world and exploit them.”

We all know that there will be companies who thrive – even in the harshest economic realities. There are always limitations. There are always problems to solve and fires to put out. But no one can stop us from turning a big part of our focus to our opportunities.

DOV GORDON’S TIPS FOR THRIVING IN A RECESSION:
Is your management committee more engaged in dealing with problems than in pursuing opportunities? How about your average manager and employee?
For nearly all of us, the strong shekel is outside our circle of influence. What is WITHIN your circle of influence? You can:

· Increase sales efforts to non-dollar economies.

· Find US based subcontractors so that more of your expenses are in dollars.

· Innovate so you can command a premium price. Successful innovation is the result of good management.

PS – Many companies find it exceedingly difficult to pry their attention away from their problems and focus on their opportunities. If your company could use some help, give us a call.
PPS – I am about half way through a new white paper on strategy. Would you be interested in reading the almost-final draft when it is ready and providing your feedback? If yes, please reply.
PPS - Here are a couple of recent articles you might enjoy. Feel free to share them.
--Lessons from Those Who Predicted the Housing Bubble - and from Those Who Didn't.
--For Every Thousand Hacking at the Leaves of Bad Management, there Is One Stricking at the Roots.

DOV GORDON helps senior executives make better, wiser decisions and quickly get things done. He is sought after for his perspective and advice on formulating and implementing strategy, developing an innovation culture and cultivating superior team work. Dov can be reached via his websites www.GordonGroupEC.com and www.IsraeliCEO.com or via email at dovgordon@gmail.com.