“Beware of Memory Loss”
By Conor Kenny, Teacher, Trainer, Writer. Founder of conorkenny.com
side effects too.
When a storm passes and we begin to bask in the sun, it’s difficult to remember the cold, wind and rain. And as Juan Rulfo, Latin American Author, said;
out at last.”
Of course, in business, this can be a fatal luxury. Sometimes, the purpose of pain is to warn usabout what might occur if we ignore the symptoms.
As we nervously and unsteadily emerge from the deepest well of recession, it’s easy to see who haslearnt from the pain and who may yet perish.
Some time ago, in mid recession, I wrote “Beware Pirates getting into positions of power onthe high seas” and I also predicted “Pirates would perish”.
Both happened and none of us will forget the Pirates even if some have yet to perish.
A storm uproots everything. The sky changes, our vision and horizon changes, the landscapechanges and, when the flood is over, new paths are created and old ones gone.
What matters is what we learnt. What’s unthinkable is to hope for a return to “the good olddays”
What’s worth looking at is the traits that sustained the good guys amidst the storm.
It’s one of those words that gets thrown around but it doesn’t
You are ‘good’ because you have integrity. Integrity often means ‘doing the right thing’ and, inevitably, doing the right thing is significantly harder than doing the ‘easy’ thing.
Clearly, Pirates are integrity free.
Choosing Your Customers Carefully
There’s a very simple, perhaps
The purpose of business is to create customers but that also means ‘reasonable customers’ Quite simply, you can’t afford to have your time consumed pleasing the unpleasable and, importantly, the impact they will have on your brand.
It takes courage to say ‘no’ to opportunity but it might well be what defines your brand, your image and your reputation.
Of course there is the well-worn cliché of recession creating
When money is tight, people look more to brands. Their question? “Can I trust this?” Therefore, to survive, you need to spend more time and money on your brand, not less. If you don’t, the new kids on the block will eventually take you on and maybe even ‘over’.
The Key Questions
I’ll offer two.
You need to interrogate your version
The first question;
Why should I buy from you?
Does your marketing really create the desire to buy?
Recession creates new clichés. Every time you hear it, it becomes
The most common and unimaginative response to tumbling income is ‘value’. It’s as if a quick banner proclaiming ‘value’ is the saviour of the universe. Sadly, it’s not.
Drive down any High Street and how many times do you see ‘value’ as the proposition.
Being ‘good value’ is fundamental not something unique.
Value is also entirely subjective and to guess at what’s good value for me is the same as guessing my income.
Value has to be tangible. In today’s new world, you need to show me value rather than tell me it’s value.
A General would hardly ask his troops to conquer a neighbouring
Good businesses invest in training every week. If you look at who survived the storm, inevitably they invested in their people and their training.
After all, companies do not grow, people do. And hills don’t get conquered, people conquer them.
Business changes. Good businesses constantly seek criticism,
Machines, no matter how good, wear out and get replaced by better, newer and improved versions.
If your business was a mobile phone, think of how many recent reincarnations that’s had. Better still, think of what it wiped out?
What’s The Difference?
This is a true story.
A very short story with
Like you, when the first giant wave hit, I asked myself several questions about our business, our direction, our focus and our future.
Like you, we were suddenly sideswiped but knew that doing the right thing would see us safely to the other side. Still, we would take experienced advice from wherever we could.
My Dad spent a lifetime working with managers. He founded the Irish Management Institute andworked with many of Ireland’s most distinguished and successful businesses. On top of that, his books were best sellers. He was a good port of call.
I wanted his advice about managing our business in a recession. His answer is the best piece ofwisdom I can share with you.
I said; “What is the difference between managing in a boom and managing in a deep recession?”He raised an eyebrow, paused for a second and said;