by Lisa Fahoury, CBC

It’s not difficult to find studies that support the need to maintain your marketing efforts during a recession, says Steven S. Little in his latest book, Duck & (re)Cover. One of the most referenced is a 1986 report by McGraw-Hill Research’s Laboratory of Advertising Performance that stated the following:

“Business-to-business firms that maintained or increased their marketing expenditures during the 1981-1982 recession averaged significantly higher sales growth both during the recession and for the following three years than those which eliminated or decreased marketing.”

But too many business leaders miss the real message, according to Little, because in a crisis, conventional wisdom often defies common sense. Regardless of how much advertising you do in any market conditions, companies that are already doing well are in a better position to continue doing well.

So, how do you ensure that your company’s in a position to prevail, especially when faced with tough economic times? Little suggests ducking — not cowering in fear, but rather getting your business in the “ready” position and focusing your potential energy. Picture a linebacker in a three-point stance or a golfer ready to tee off, and you’ll understand what he means.

According to Duck & (re)Cover, ducking should be every business owner’s first, immediate response to crisis — stepping back and assessing your most critical issues. Like a medical trauma teams conducts triage, you must objectively examine what areas of your operation are in most need of your attention, from improving cash flow to tweaking your pricing strategies.

Unfortunately, too many of us fall into the same ineffective traps when facing a crisis:

• Not focusing on the root cause of an issue — This is known as treating the symptom rather than the trauma. Have a cash flow problem? Don’t automatically assume that your collection methods are at fault.

• Not prioritizing the areas that need your attention — It’s human nature to focus on what we know best rather than what’s important. For example, someone with a sales background might view prospecting as the cure-all, while a business owner with an engineering bent might focus immediately on operational issues.

• Not putting new problems in perspective — Little uses the example of a threatening collection call. If you’ve never had one before, you over-prioritize solving the issue because it’s unfamiliar rather than assessing if it’s really the most important use of your time today.

• Not knowing how to apply a tourniquet — Drastic pressure can have unintended consequences, so look for other ways to stop the bleeding before you sacrifice a limb of your business.

Duck & (re)Cover offers readers practical advice on essential survival strategies, from retaining customers to becoming a stronger leader. In any situation, Little cautions that overcompensation is the enemy. Try to avoid knee-jerk reactions that will do nothing to strengthen your position, and may in fact weaken it.

One of his suggestions is the creation of an informal advisory board — a regular gathering of knowledgeable individuals whose only interest is to see your company succeed. Select individuals with no financial interest in your business, and areas of expertise that fill your knowledge gaps.

Little also talks about the importance of leadership during times of uncertainty. Your staff will naturally look to you for guidance, so it’s vital to develop a leadership style that will reassure and motivate people to perform to their abilities. How do you get people to follow you? Little recommends earning their TRUST with actions that are:

•Timely
• Realistic
• Unscripted
• Sensitive
• Transparent

By using the TRUST formula, you’ll tap into the power of individuals and gain a more powerful commitment to your organization.

Finally, Duck & (re)Cover addresses the importance of planning, though fewer than 20% of business owners view it as a priority. Remember, it’s not the plan that leads to success, it’s the process. So the next time you find yourself in the midst of a storm created by forces beyond your control, remember — ducking could just be the key to a faster recovery.

Certified Business Communicator Lisa Fahoury is chief creative officer at NJ-based Fahoury Ink (www.fahouryink.com). Reach her at (973) 324-2100 and follow her on Twitter: twitter.com/fahouryink.

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