People behave in contradictory ways during times of stress–like during a recession. Too many Sales Managers in too many dealerships become paralyzed by fear or indecision. Recessions are part of business cycles, just like growth periods. Thus, managing during a recession is part of a Manager’s job – perhaps the most important part.
But what should Sales Managers do differently? The answer is “a lot,” but not “everything.” If as a manager, you have managed through recessions before, you may remember what to do, assuming you did the right things.
The biggest mistake you can make is to act too slowly, but it’s also important to act with carefully considered intent. The second biggest mistake is denial: “This can’t be happening; it can’t get any worse.” Yes, it is, it can and it probably will. The third biggest mistake is to become defensive and reactive. When that happens, you will always be a step behind the competition–and a step late in meeting your customers’ needs.
The secret is not to concentrate on “survival.” Instead, concentrate on taking steps to dominate the competition. When the recession ends and recovery comes, you’ll be on top. Coincidentally, those same steps are the right moves to survive the recession, too."
This audio will show you how to avoid a recession in your department, and what to do if you should happen to be in one.