If you own a company in the printing, mail, and graphics communications industry, you probably know someone who is near the end of survivability or you’re treading water yourself these days. If neither of these apply to you, skip “Last Chance” and go to “Planning”.
Last Chance: For owners who wake up at night worrying that their business is circling the proverbial drain, here are 3 critical factors that can make a difference in the quality of whatever outcome takes place over the next few days/weeks/month(s):
1. Connect with friendly local competitors; despite what you may think, they are the most likely candidates to buy assets and hire you (and some of your people)
2. Be open minded and rely heavily on a trusted advisor who can guide you through the minefield
3. Look at things from the vantage point of your best customer relationships; it helps if you have been on the front lines with customers long before crisis time
Planning to Mitigate Worst Case: For owners who want to take steps to mitigate “worst case” risks, please consider the following planning matters:
1. Get to know local competitors to ascertain who is compatible with your values and ethics from a “chemistry” perspective
2. Be clear who are your trusted advisors and round out “knowledge gaps” in advance of NEEDING critical advice QUICKLY
3. Take the time to evaluate your customers from a business perspective so you can assess their requirements beyond the crunch of estimates and job tickets; understand their business as well as your own so you are a valued partner who contributes to your customers’ success.
Speaking to those owners who are worried and still can’t sleep because there’s not much time remaining on the clock, do not hesitate to reach out for help (email@example.com is monitored 24/7).