Thursday, July 17, 2008

What I’m Hearing…Benefits from the Economic Downturn

Listen to the news today, and you’ll undoubtedly become very nervous and / or depressed after just a few minutes. Based on the reports, it sounds like we’re headed for another Great Depression at any minute.

Taking a positive spin on things, The Omnia Group recently conducted a survey asking “What has been the best "hidden" benefit to the recent economic turndown to your business?” The results?

•Refocusing business priorities - 37%
•Reinforcing existing client relationships - 24.7%
•Finding and cutting unnecessary costs - 19.8%
•Overdue company reorganization - 8.6%
•Refinement/adding additional products and services - 6.2%
•Other - 3.7%

What can your organization do to take advantage of our current economy to come out even stronger? How about in your own department? We don’t have to take the poor economic reports as gospel. We can use them to our advantage, to excel and be ahead of our competition when times change for the better.

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