Only the strong survive.

Dan Caruso, the CEO of Zayo and on the Board at NTG, writes a blog called Bear on Business, which has a post about what to do in today's economy. Here are some snippets:

1. While no one knows how long or deep this downturn will be, there is a clearly appropriate strategy - prepare for the worst and seize the best opportunities when they come.
2. For our customers, I am sure the impact will be broad and varied. .... We need to be responsive to these needs and vigilant on our exposure.
3. Our success will be a function our ability to be nimble and responsive to the shifting environment we face.
4. Only the Strong, Nimble, Focused, Creative, Disciplined and Driven Survive.

I would like to add the following:

Shore Up Your Best Customers NOW! Stay in contact weekly. As Gitomer says, "What would you do if your top 3 clients left?"

Be flexible. And creative.

Cut costs where you can, but sell the profitable stuff first and foremost.

This is also a great time to look at what ALL of your true costs are to see if you ARE indeed making a profit. (Not, do I have money left over at the end of the month? But am I charging enough to insure a certain profit margin). Many of these calculations that I have seen ISPs do, often neglect to factor many of the line items on this list.

1. Have you looked at how much credit cards are taking? Bad debt? Billing?
2. The Cost of Sales (referral payments, salesperson costs including salary, benefits, expenses, lease, desk, phones, car allowance)
3. Lease payments. If you lease phones or CPE, credit may tighten. Pay attention. Talk to your banker.

It's a good time to get out and network with businesses locally to help each other, to get new ideas, and to create some business opportunities. Here's a video lesson on Biz Schmoozing by Keith Ferrazzi.