Economic storm clouds coming?

Did you see the video of the flooding in Yellowstone National Park that wiped out roads, a bridge, and at least one building? Yikes!

With financial storm clouds brewing, many leaders are about to do the same thing to their organizations that those floodwaters did to the park. 

 

In an effort to prepare for difficult times, they will eliminate costs.

 

But in the process, they will indiscriminately eliminate programs, people, operations, and systems that will dramatically and deleteriously change the organization.

 

Please don’t do this. 

 

And don’t let this happen in your organization.

 

Yes, it may make sense to take a fresh look at your organization and how to bolster and prepare for shifting economic winds.

 

However, cutting without regard for the impact of those cuts may be far more injurious in the long run.

 

For example, recession after recession—and even during the pandemic—organizations repeatedly cut marketing. 

 

When they do this, they eliminate an asset.

They cut one of the most important drivers of revenue.

They chop the lifeline between the organization and its customers, donors, constituents, and stakeholders.

And when the economic storm recedes, the organization is forgotten in the crowded, noisy marketplace.

There is a better, more thoughtful way of approaching these preparations.

In fact, organizations should be using these approaches no matter what economic uncertainties prevail.

Right now, my best clients are innovating new services and revenue sources. 

They are expanding their marketing and expansion efforts.

They are resolving problematic areas of their organization.

They are improving staff accountabilities and strategies.

And these are approaches that will help them to leap forward with resilience.

What will your approach be?

If you'd like to talk about ways Bower & Co. can help your organization not only avoid disaster in the event of tough times but come through better than before, let's talk.

From innovating new revenue sources to strengthening your marketing or staff leadership, to guiding you through your best corporate sponsorship moves right now (after all, I wrote the book on this topic), I can help. I want you to continue thriving through these uncertain times.