May you live in interesting times.

Is that ancient expression a blessing or curse? I suppose it all depends on how you define “interesting” and more importantly how you respond and adapt to it.

`If you define interesting to mean unpredictable, challenging and/or threatening, then we clearly live in interesting times. Business these days is more like shooting the rapids in a rubber raft than canoeing in a duck pond.

It’s too easy to be mesmerized by the danger of capsizing. If you focus on the rocks, that’s where you will go. The secret is to look for and steer to the high water and paddle like crazy.

Survival is Never the Goal

If you set your sights on surviving you could slip and sink. If you set your target as thriving then you just might flourish.

How do you thrive in these turbulent waters?

Marketing is the culmination of all the messages and communication that you and your staff send. In fact, your staff sends more powerful marketing messages than all the advertising in the world could ever do. Thus, marketing becomes the end result of almost every business decision you make.

Think Long Term

You should never make knee-jerk decisions – especially about your business strategy. Gather as much relevant information as you can. Seek the advice of people you respect. Be clear on your purpose. Examine both the short term and long term effects of major decisions. Once you decide, act quickly and confidently. Your staff is looking to you for leadership and hope. Be open to course corrections when and as needed while clearly focused on the objectives and purpose.

Prepare for Disaster, But Don’t Fixate On It

The fire or police department prepares for disaster – but they don’t obsess about it. They analyze, plan, acquire the best tools and rehearse their response so they can move swiftly when needed. Where are you exposed and how can you protect yourself? When you are shooting the rapids it is very foolish to save money by not buying life vests.

Review Expenditures

Don’t make across-the-board cuts. That’s a political response and just plain dumb. You are cutting both valuable, ROI positive activities – that make you money and bring you customers – along with ineffective ones. Instead, categorize expenditures and investments into four categories:

Items that are needed because of the turbulent times to keep you above water or deal with potential disaster. Plus, items that generate a solid return. These are new or increased expenditures.

Items that are mission critical and need to be maintained as is. Nothing more to say here. Cutting anything here would be a very poor business decision.

Items that provide variable return. Peg the expenditure level to the conditions and vary as conditions change. Treat this process like an exchange rate and invest accordingly.

Items of questionable value. Eliminate them, modify them or phase them out completely. This is where some of your cost savings comes from.

Review Training

Review does not necessarily mean reduce or eliminate. Training can be even more important during challenging times. This is when your own skills and those of your staff need to be at their best. You don’t want to lost sales because of poor quality control or customer service. Categorize your training needs into three categories:

Key individuals that will steer you through the turbulent times. Provide individualized coaching or training to them. This is the time to invest strongly in your best assets.

Departments that need to stay sharp and ahead of your competition. Provide group training, tele-seminars, webinars or other special attention to improving their skills sets.

Staff that need to be motivated and reminded of overall purpose. Remind them of the little things that make the difference to customers. Get each of them a copy of a good book that best conveys that message. Ask each staff member to report at weekly meetings on an assigned chapter in that book. Make them feel important to your mission. Remember that it only takes one employee’s mistake (or sabotage) to sink your raft.

Review Advertising

Too many companies make the dumb decision to make major cuts in advertising or marketing communications during turbulent times. My guess is that they were the same folks who didn’t review their marketing during the good times. Categorize your advertising into three categories:

Advertising that is measurable and has demonstrated a profitable ROI. Continue to measure as you grow your investment in this profitable avenue. Unfortunately, too many companies don’t measure their return on advertising or they don’t design their ads or online communications in a way that allows the results to be measured. So they have nothing in this particular category. That’s a shame.

Advertising that has gained market recognition and that you believe to be working. You just don’t have a clue how profitable this venue actually is. Start to build in some measurement indicators. Vary the ads and measure. Then increase or reduce investment appropriately.

Advertising that is merely “me too”. You bought an ad because your competitor did. It might be a waste of money, but you don’t know. Reduce the expenditure, modify the message or medium or simply eliminate it.

Build Relationships

In turbulent times nothing is more important than relationships. We will warmly remember those who suffered with us or helped us through the turbulent times. Invest strongly in strengthening the relationship with your best clients. Segment your clients into three categories:

Best clients. Divert more attention to their wants and needs, and instruct your staff accordingly. Jump through hoops for these clients. Provide them additional value-added services to help them. Communicate with them more often.

Average clients. Maintain your service levels and pricing. Attempt to upgrade them to “A” clients by introducing additional services.

Pain-in-the-you-know-what clients. Don’t let them bully you into reducing your prices. Instead, you might reduce your level of service to them. Give them the choice of upgrading or leaving. You’ll have less stress in your life.

Relationships are your most vital assets

Relationships are ALWAYS more important than your branding – especially during turbulent times. When you have the choice to invest in branding or invest in relationships – choose relationships, every time. It is the far more profitable choice for most businesses, especially small and medium sized enterprises. Don’t forget that big businesses invest in branding because they cannot build relationships. Don’t be fooled by the branding hype.

Online Social Media

Don’t hide. Use the Internet to keep your message and name in front of people. If you haven’t yet created your blog, this is the perfect time to begin. Post regular tips and advice, news and positive messages. Register and maintain your accounts on social networking sites like LinkedIn.com, Plaxo.com and Facebook.com.

Explore the use of Flickr and YouTube.com to publish product news and demonstrations. Barack Obama, used these tools to successfully promote his presidential campaign, and he plans to use them to convey his messages to the American people and the world.

May you thrive in interesting times.