An Opportunity During Economic Downturn by toriola1


									                                      Presented by Daniel Toriola

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                                 An Opportunity During Economic Downturn
                                                 By Nick Diprose

     All around there is talk of the economic slowdown. In the Interim Management industry, this means
planning for increased demand and working with forward thinking business leaders who proactively
utilise interim resource to deliver short and medium term results.

Its very hard not to avoid reading about the credit crunch and the latest effects of the economic
downturn - we are faced with it on a daily basis. And if we believe the economy is cyclical, then this
recession is overdue and likely to be deep. Most companies have entered 2009 with considerably more
apprehension than for a number of years and some are already responding by reigning in expenditure
and cutting costs.

In recruitment, a recession can mean being a supplier in an ever-tightening marketplace as companies
look to freeze human capital expenditure at best or at worst startto make cuts to staffing levels.

But one thing has changed significantly since the last recession, and that is the growth of interim
executive management. With an industry growth rate of over 15% a year and a significantly larger
number of CEOs, CFOs and HR Directors now recognising the flexibility and genuine value-add of
using Interim Executives, there is every likelihood that, this time around, the call on these resources
will reach an all-time high.

Whilst in recession, senior managers can find many compelling reasons to use an experienced interim

The most compelling benefit of using interim executives is the rapid (within days) access to quality
executives proven in the management of transition and business change and experienced in working in
a wide range of sectors and cultures on an intensive project basis. Interims are used to working
independently to deliver results but also know part of their role is coaching and mentoring those around
them to be able to take over once the Interim has left. This pragmatic use of highly skilled resource
makes for a robust business case. Interims can be expensive but for any organisation which has
become used to having management consultants around, a cost saving can be shown as an interim
executive will be likely to cost about one third of an individual consultant. The comparable level of
business experience you gain from an interim executive, 'pound for pound', is usually a clear benefit.

Working with interims requires something of a sea-change in planning but those who plan early will be

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                                               Presented by Daniel Toriola

well rewarded as the pool of high quality, career committed resource is far smaller than many would
admit and demand is likely to exceed supply.

So for 2009, this could be an ideal time for organisations to consider introducing interims as part of
their overall resourcing strategy.

BIE is the market leader in the supply of Interim Managers across all key business sectors and and
functions globally. Nick Diprose is the Managing Director and is successfully delivering interim
management solutions in the UK and international markets. BIE's wide client base includes
private-equity portfolios through to large UK, US and European companies. Nick can be contacted at or visit

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                                             Presented by Daniel Toriola

         6 'Quick Fire' Strategies for growing your business during an economic downturn.
                                                        By Richard McMunn

 During a recession or economic downturn it can be a testing time for many businesses and
entrepreneurs. However, by changing your mindset and applying a few simple strategies your business
can grow significantly during difficult economic times:

1. It is imperative that you implement a 'multi step' follow up communication strand of between 7-30
contacts (email, mail, telephone etc) with everybody who comes into contact with your business as a
potential customer. The majority of business owners will give up after just one or two contacts with a
potential customer. If only they knew how much income they were missing out on!

2. Powerful guarantees are essential during an economic downturn. If the customer trusts you, they will
buy from you.

3. Learn how to test the market - especially the internet, and become very good at Pay Per Click
Advertising (PPC). PPC is very easy to test, yet most Search Engine advertising can't be bothered to
test it, and will lose a fortune through wasted adverts.

4. The media are generally very good at scaring people - They only have to print the Headline
'RECESSION LOOMS' in their newspaper and the readers attitude to everything will change
dramatically. Limit the amount of media coverage you intake. It is important that you keep away from
all negative media publishing as you need to be at your best during an economic downturn. If you are
feeling negative, then this will come through in your business.

5. Implement an immediate upsell and cross sell programme into your business. It's one of the easiest
ways to give yourself an immediate profit boost - at no cost.

6. Double the amount of communications you send to your existing customers. They are 16 times
easier to sell to than new customers.

Don't forget, it is those entrepreneurs who develop a 'must win' attitude who will not only survive during
an economic downturn, but will see their business grow significantly. You must try to see a recession
as an opportunity for growth. Your products or service must be something that the customer really
wants, or better still, needs. Try to think outside of the box and go out of your way to communicate
effectively with each and every customer or potential customer. Testing the market is also key as this
will allow you to reduce costs that are not helping your business grow. If you are going to advertise
then remember that now is a great time to get heavily discounted advertising rates - up to 90% in some

Richard McMunn, Firefighter for 17 years and a HSBC Award winning Entrepreneur develops a free
online course that will show you how to succeed in any business. Want to learn more about how to
start a highly successful and sustainable business? Get Richard's popular free course now, available
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                                            Presented by Daniel Toriola

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