click to return to ASVP Group home page
Don't panic! How to manage your way through the current economic environment and come out on top
22 October, 2008

Business owners and managers of organisations from SME to multinational scale could be excused for thinking the sky is falling in on them, with recent media focus on the carnage on financial markets.

Our optimism changes as quickly as the ASX, FT, Hang Seng or Dow index changes speed and direction, i.e. fast and furious.

Which is pointless, since those indices are mainly driven by the same financial wizards who brought us the global market-meltdown. They've already proven they aren't the smartest guys in the room - so why do we attach any importance to their fear and greed-driven buy/sell decisions?

Seriously - a share in a blue-chip, Top 200 Australian company should be worth about the same today as last month, or last year. Unless the management has changed strategy, lost some key assets or markets, or uncovered some massively bad decisions - there is no reason to be feeling pessimistic about long-term prospects or values.

However, many of us still feel helpless and overawed by large-scale events such as those we have witnessed recently. Helplessness leads to inaction paralysis.

So this is a reminder - a wake-up call - the business world has to pick itself up by the bootstraps, breathe deeply, arrest the panic and paralysis, and get on with it. Those that start to move now will be on top when the cycle turns upward again. As my grandmother says, "When the going gets tough, the tough get going."

Start by sticking to fundamentals - life goes on.

Here's how:

  • Your organisation can outperform all others if the strategy you plan is sound, differentiated AND ­if your organisation is one of the one-in-five where the strategic plan ­­actually gets executed...
  • Your organisation knows and uses these three simple "secret success ingredients":
    1. A crystal clear VISION which you articulate properly so everyone can understand and share the vision
    2. Internal rules that make sure conflicts are resolved with a CLEAN FIGHT
    3. Staff are enthusiastic about work because WORK IS FUN. (click the link for an explanation) - it's nowhere near as frightening as it sounds. And it doesn't involve office parties, bowling, Friday barbecues, or anything expensive - just some good old common sense.­­ ­­­­­
  • And, of course, you fully understand - Who's who on your team - and how they fit in and react with other members of the team­.

Follow­ these simple fundamentals and you'll come out of the current gloomy times well ahead of your competition.

PAY IT FORWARD

If you know a colleague or friend in an organisation who might benefit from the initiatives and ideas in this e-mail, please take a moment to forward it to them (use the Send to a Friend link below). They will thank you, and so will I - with this valuable gift - to the first three people who tell me they have forwarded this e-mail to a friend in a business or an NFP organisation. I'll provide - at my own expense - an ASVP Integrity & Values profile and personal feedback session valued at up to $1870. The profile can be for you, or a person of your choice. Conditions apply.

HARVEY'S HAIR LIP

Movember, the month formerly known as November is upon us again and I'd like to congratulate Harvey Kalman who is once more doing his bit with a stiff, bristly upper lip for various charities. We've supported Harvey ­this year and invite you to do the same by clicking here. Any amount you can afford will be greatly appreciated.

QUESTIONS?

I sincerely hope this newsletter has been helpful. If you have any questions, feel free to contact me (see below) for a confidential ­discussion.  Remember, the content is of a general nature only and you should consult with us or your usual advisers before implementing any of the suggested initiatives.

NEED MORE HELP?

Still feel overawed and paralysed? Call today to arrange a discussion to help you get your organisation jump-started again.

Cheers!

Chris Blackman

Member of the Institute of Management Consultants in Australia

­
Phone: +61 3 9846 3853 Mobile +61 418 582546
ASVP Group Pty Ltd | 5 Kelvan Grove | Doncaster East | Victoria | AU | 3109