Business Services Weather the Economy
April 10th, 2009By Matt Bolch
As published in: Franchise Times - April 2009
At a time when stocks are trading at half what they did 18 months ago, the loss of 10,000 franchise estab- lishments doesn’t seem so bad. The key, of course, is to make sure that it’s not your business that closes.
Staying on top of your game
If franchisees ever needed a little sage advice, now is the time.
“We’ve never been more relevant and never been more effective,” says Jason Zickerman, president and CEO of The Alternative Board, an international peer advice and executive coaching franchise based in Westminster, Colorado. “Executive coaching is kind of recession-proof. In good times, owners can afford it, and in bad times they need us more than ever.”
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“It’s been proven recession after recession that companies that don’t cut funds for advertising and training come out of recessions better than companies that do.” —David Fagiano |
Clients can participate through peer boards of non-competing business owners who meet to discuss challenges and strategies for success and receive one-on-one coaching about their particular business.
This isn’t the time to sit back and hope to weather the storm, Zickerman advises. Business owners have to be aggressive and proactive, finding ways to cut spending that do not include marketing and leveraging company strengths to find new customers and cement ties with existing ones.
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