Michigan's economy flat out sucks and in times like these it is more important than ever to run your business lean. Lean - cut the fat. Lean has no fat and fat is waste. Small businesses that have too much waste end up out of business. Waste (fat) equates to time, money, and loss of business. In a hostile economic environment, too much fat will make you sink.
Being lean doesn't mean not spending money. The name of the game is quality and efficiency and if your company can provide great service while maintaining both quality and efficiency then you are lean. I prefer to let my company's service speak for itself versus dumping resources in to aggressive mass-marketing. As a matter of fact, Vision's biggest source of new business is referrals and that is marketing you can't beat.
A lean business hires the best people and pays them what they are worth while maintaining high expectations. Being lean means wearing multiple hats and wearing them well. Lean companies will put the customer first and do what it takes to make them happy. Lean companies will also identify and fire "problem customers."
If you are a small business in Michigan and rely on other Michigan businesses; if you are still in business today then you are doing something right. I prefer to think of this as "survival of the fittest." Let all the marginal companies fall by the wayside - more business for us to serve and when the economy swings I will be ready to hold on for the ride.
No comments:
Post a Comment