Look around and you will notice that things have changed dramatically in the last two years. In the 12 – 15 years prior to late 2008 things were easy. Money was plentiful, credit easily obtainable and consumers and businesses were on a drunken spending binge. Those days are gone. Probably forever – certainly in my lifetime.
In the New Economy or “New Normal” as the TV pundits like to call it, businesses and individuals are taking a more cautious approach to buying and spending. Partly because the supply of easy money has dried up and partly because they are fearful of the future.
In Washington, Obama and his clowns have sucked billions out of the economy thereby stopping the flow of money – something not easily done and only done twice previously. They have caused the private sector to take at least a trillion dollars entirely out of circulation, which will result in shrinkage of everything, especially consumer spending and B2B investment.
All of this means that most small businesses, service businesses, professional practices and sales professionals are going to see their customers spending less, buying less often and only at deep discounts. They are also going to find new customers harder to come by and costlier to obtain.
To counter this new reality you will need to sell and deliver: (a) a compelling sales story that may require repositioning what you sell; (b) products and services that are immediately useful and generate immediate revenue or cost savings for the buyer using them; (c) different pricing models and payment terms; (d) new and more effective sales practices and sales management skills; (e) the ability to attract more affluent and superior customers and clients who are financially immune from this New Economy or who are passionate about what you offer or who want to capitalize on the new opportunity that the New Economy presents.
Personally, You Need To Get Your Act Together With; (a) no fat or waste in your marketing or advertising; (b) no tolerance for lazy, unmotivated employees or sales people; (c) proven strategies and tactics that will bring you high margin clients, customers or patients; (d) precision highly targeted marketing strategies that bring you the affluent; (e) willingness to try new and innovative, out of box, sales, sales management and marketing strategies that you are unfamiliar or uncomfortable with and would prefer not to do; (f) a renewed focus on protecting your money so that you have financial staying power.