1. Stop paying attention to the bad news
At Austin-based Falcon Containers, CEO Stephen Shang
suggested in 2009 that his sales team quit watching economic news for two weeks
and spend more time connecting with customers. Result: The company, which
leases repurposed shipping containers as storage units, made a deal to create
an Iraqi "village" out of the containers for an anti-IED effort by
the U.S. Air Force. That led to more military business -- fostering a 20% sales
increase.
2. End a contentious relationship
Tired of worrying that his creative talent would quit
because the main contact for a huge client was abusive, Kim McConnell, founder
of agricultural marketing communications firm AdFarm, fired the client. Morale improved immediately. "Very quickly the revenue from
this very sizable account was made up," he says. "I guess it put
pressure on our people to go and find the revenue we lost from this
client."
3. Quit selling some of your products or services
Niraj Balasaria, CEO of Petron Pacific, a 14-employee
steel-and-wire-products importer that brings in more than $15 million annually,
says he saved his company from disaster by pulling back from three new product
lines earlier this year. His team was pulled in too many directions, leading to
mistakes. "I lost tons of money simply because I went outside of my core
competency," he says. He's now refocusing on the company's three most
successful lines.
4. Don't answer your own e-mail
Finding himself spending far too much time tackling his
in-box, Brian Scudamore, CEO of 1-800-GOT-JUNK, the $100 million
clutter-removal service, asked his assistant to take over and handle his
e-mails two years ago. He says getting rid of this "business killer"
improved his productivity and has made him a better manager, freeing him to
encourage and inspire his team. "It's given me time to walk around and
talk to people," he says. Imagine that!
5. Stop eating alone
Scrimp on business lunches -- as so many companies are doing
-- and you'll lose vital business leads. Ask McConnell, who has broken bread
with professional contacts and employees every workday since 1984. He's won
several huge clients for his company, which has sales in the $15 million range,
as a result. "It didn't occur over lunch, where two minutes later I walked
out with a multimillion-dollar client, but it was definitely the catalyst that
allowed it to occur," he says.
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