How do you learn how to handle difficult team members? By dealing with difficult team members. How do you learn how to deal with difficult clients? By dealing with difficult clients. So, how do you learn how to run a business better? By doing it when things are tough, like they’ve been the last 2 years. Here are some recent results from a survey I came across in Lawn & Landscape Magazine.
Learning from the recession
The one thing the recent recession has taught business owners is how to manage companies smarter. While economic conditions certainly aren’t ideal, they’re finding ways to survive, ways that will make their businesses run more efficiently in the coming months and years. Of the Citigroup survey respondents, 64 percent said they have forever changed the way they run their business operations.
The changes in running their business:
- Reducing debt
- Increasing cash reserves
- Freezing hiring
- Delaying expansion plans
The challenges they’re tackling:
- Higher taxes
- Decline in products and services
- Tighter business regulations
- Health insurance
The ways they’re weathering the storm:
- Long-term client relationships
- Effectively managing expenses
- Recession-proof products or services
(Source: Lawn & Landscape magazine, November 2010 issue)
So, the question becomes, what did you learn and what are you going to do differently in 2011 and beyond? I feel like I’ve learned a new, permanent way to run my business and while I hope the economy improves, I am grateful for the lessons I’ve learned the last 2 years. I’m going to have a more successful business in the long run. Now, what about you?
We are just a few weeks away from GROW! 2011. Please don’t miss this opportunity to learn from an incredible cast of experts as well as the attendees from all over the US. Get yourself and your people to GROW! 2011.