Landscape Ontario’s board of directors recently took 15 minutes to brainstorm ideas on what individual companies can do to thrive in any economy. They came up with the following:
 

Great ideas

• Develop networks for support — talk to each other
• Do not pass negative impressions to customers
• Increase company awareness activity
• Survey and communicate with your customers — they, too, will be weathering uncertainty. Find ways to add value and partner with your customers
• Watch receivables
• Negotiate terms with suppliers
• Reduce overheads. If staff must be cut, consider how to do this sensitively and humanely
• Add additional services
• Target your market. Identify market opportunities. Fire customers that don’t fit
• Focus energy on profitable customers
• Set positive tone – “leadership”
• Speak to staff – be positive
• Eliminate waste
• Rent equipment instead of purchasing
• Hire sub-contractors and/or fire sub-contractors
• Develop an action plan. Being proactive is one of the most important things to do
• Change marketing focus. What we do is enhance customers’ investments.
• Downturns may be positive in some ways. Look for opportunities
• Promote positives
• Retailers: watch inventory. Keep space full with product. Empty space sends the wrong message and image
• Contractors
• Watch inventory
• Review supplier lists
• Use member suppliers. (Work together, we are inter-dependent)
• Know your costs
• Don’t discount without knowledge of bottom line effect
• Follow up on estimates
• Survey suppliers and peers. Find out how others are doing and observe what works.
• Invest in training and education
• Use the apprenticeship program to help staff
• Recruit better people
• Maintain professionalism
• Differentiate your business and communicate your benefits
• Start a “rainy day” fund
• Maintain good business fundamentals. Work at enhancing competencies in sales, leadership, finance, operations and customer relations
• Use technology

 

LO helps members thrive in economy

What can the association do to help members thrive in any economy?

• Host association events focused on the economy
• Chapters and Sector Groups should include the issue on the agendas of all meetings so that members can share experiences, fears and opportunities
• Host panel discussions with respected members and consultants
• Host meetings featuring financial experts
• Host legal seminars on placing liens on properties.
• Verify the negatives. Sometimes negative talk is not based on reality
• Accent the positive
• Stimulate demand. Mount a collective promotion campaign
• Remind the public about the importance of enhancing their properties
• Develop benchmarks and surveys
• Engage industry sectors groups to share ideas and network
• Write articles about companies that have grown and thrived in recessions
• Host seminars on technology
• Focus Congress programs on business subjects
• Promote the Prosperity Partners program
• Find ways to engage members using the association’s infrastructure  
• Form a “taskforce” committee
• Announce “Economy” as the top priority of the association
• Make information accessible