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February 18, 2009

Even business guru’s make adjustments to the way that they do business. Steve Yastrow, author of "Ideas for Creating Profitable Customer Relationships", recently wrote, This is Not a Recession  This is worthwhile reading material and will give you food for thought.

“Don’t think of our current economic crisis as a recession. Instead, think of it as a recalibration.

Everything is different now.

If you think of it as a recession, you may be tempted to “hunker down” and wait for the economy to cycle back.

If you think of it as a recalibration, you will be motivated to focus on what you have to do differently, since everything is different now.

    The way your business generates results is different, now.

    Your customers think differently, now.

    Your customers care about different things, now.

    Your customers act differently, now.

    Your customers may actually be different people, now.

    Customers aren’t disposable anymore; more than ever, you have to create sustainable customer     

Everything is different now.

One thing I’m convinced of is that the world I am working in today is different from any world I have ever done business in. The world has been reset. We can no longer look at the “LY” column on reports to use last year as a benchmark for what will happen this year.”

So how do we apply this to the casual furniture industry? Simply review who your customers used to be and who are they now? What type of things do they care about versus the past? How does this new information help you? You can utilize the answers to redefine how you market and what products you market to your customers. It has always been a good business practice to review your business model, now is a good time to review, reassess, and adjust to the changing times.

Write and tell me what you find different about your customers and how you are conducting business differently?

These are my outside views…Marcia Blake