Breaking News: Vaccine For Recession

“In Minneapolis, Chicago, London, Paris, Tokyo and Hong Kong, the numbers quickly multiply: one case becomes four, then sixteen, then hundreds, thousands, as the contagion sweeps across all borders, fueled by the countless human interactions that make up the course of an average day. A global pandemic explodes.”

Don’t panic. This is the synopsis for the new “Contagion” film. However, when I read it I thought of the media’s response to the latest economic crisis. Our politicians and economists are no better. Bickering and running around like headless chickens. No real action. Just sound bites.

When speaking with many business owners, especially in recruitment, it is clear that there are many weapons at our disposal to fight the virus of recession. They don’t just apply in the current economic climate. However, as Hollywood knows, there is nothing like fear to motivate action. Oscar Wilde said “The best way to appreciate your job is to imagine yourself without one.”

So here are my top 7 actions to fight the virus;

1. Expertise. Can you demonstrate the right level of knowledge in your client’s market, company and your own ‘products’ that your client is interested in? By ‘right’ I mean that you tailor each presentation to the person you are talking to, understanding their motivations and interests. Line Managers, HR and FD’s all have their own agendas and issues. You can show your expertise at meetings, in the media, updates and marketing collateral. Give some thought as to how you can be seen as an expert in your field.

2. Niche. Avoid the temptation to ‘spread out’ into wider markets as your market is squeezed. Become more focused, not less so. Look for sub-niches of what you are already an expert in. Grow the geographical locations you cover in your current niche. All of these are preferable and easier than starting again or competing in new markets that your competition is already strong in. You believed in your market for a reason. As a starting point, find out what your current market is having difficulty hiring. The need is out there.

3. Time Management. Be specific in defining your criteria by which you decide which clients and candidates are worth allocating your time to. Spend time asking questions of clients and candidates alike that help you make that distinction, prior to selling to or interviewing in full. Better to take time finding clients who meet your criteria than waste time on clients and jobs that are not profitable or feasible.

4. Planning. As owners or executives, go back to your business plan, be clinical and make adjustments that bring your plans up to date. Make your plan as clear and measureable as it can. Break it down into milestones that make sense today. I guarantee that you will feel a new sense of purpose.

As Consultants, plan your day the night before. Your plan needs to be specific and prioritized. Specific in terms of names to call and prioritized in terms of understanding and bringing to the fore activities that bring you closer to making placements. Starting your morning by planning what you should do for that day is a poor way to use up your precious time and energy.

5. Training & Mentoring. It’s classic and constantly stated but now is not the time to cut back on resources for training and mentoring for your staff to be the best professional salespeople they can be. Recruitment is a sales industry. The biggest single difference you can make to your business is to sell more and sell repeatedly. Ensure your business and consultants are at the top of their game. As owners, get someone experienced in to help you see the big picture. It’s difficult to keep your nose to the grindstone and have a clear view of the road ahead.

6. Communication. It can appear easier to keep quiet about difficult circumstances and conditions than have to deal with the resulting questions and issues. However, your staff will be talking or thinking about it anyway. Far better to take some control, give some clarity and certainty, even in uncertain times, than leave a void for people to fill with their own stories and imaginations. Email is not usually the answer at this point. Face to face discussions are nearly always better. Keep in mind that in the situation of cutting under performing staff, it is often the case that your high performers are unhappy that the business is supporting non performers, especially if you are making cut backs in other areas that affect them.

7. Strategy, or put more simply, do you proactively manage what differentiates your business from your competition? Clients often complain that most agencies are the same. They are uninspired or even bored of hearing about the size of your database, the breadth of media you advertise in or even the ‘uniqueness’ of your staff. Yes, all people are unique, but so what! What you need to demonstrate is that your uniqueness helps your client. Relevant success stories are a great way to do this. They are interested in solutions to their problems. They want professional, knowledgeable people to help them accomplish their goals or solve an issue. It’s not about features and benefits. It’s about listening (x3!), probing, challenging and finally solving their problems.

Admittedly, unlike Hollywood, not everything turns out OK in the end (I haven’t seen the film yet!) However, I guarantee that taking proactive action and planning ahead in very practical, real steps, will improve your odds of emerging stronger and better placed to win the war. “Success is simply a matter of luck. Ask any failure.” Earl Wilson.