You know it was coming at some point in time, the only question was: how soon?

Reuters reported already on September 3^rd 2009: ” The global recession is coming to an end faster than thought just a few months ago and may already be over, according to forecasts published by the Organization for Economic Co-operation and Development on Thursday. The recovery may even prove a little stronger than previously predicted, OECD chief economist Jorgen Elmeskov told Reuters in an interview where he elaborated on the forecasts for several key economies. “Compared with expectations a few months ago, we now have a recovery which … may be coming a little earlier and it may be slightly stronger because financial conditions have improved more rapidly than we assumed a few months ago,” Elmeskov said.

The OECD forecasts show a third-quarter (of 2009) return to expansion of economic output, as measured by gross domestic product, in the United States and the 16-country euro zone, led by its two largest economies, Germany and France. The forecasts showed an annualized expansion of 1.6 percent in the United States in the third quarter, 0.3 percent in the euro zone and 1.1 percent in Japan, and were generally more optimistic than the last update in June.”

Well, now it is officially declared that it was over last year in summer! What now?

The consumer on the street may not feel that way yet and most of us are still uncertain what that should mean in “real terms” when looking at jobs, or lack of it, our mortgage, our home value, our accumulated debt, our bills to be paid, etc. While this may still represent a picture we only look at with great apprehension, this is the time we must get into high gear – actually it was already 9 months ago when we could have started to become proactive.

Entrepreneurs, business owners and executives have taken many measures to survive the economic crisis persistent for some 20 months. Why did they fret over tough decisions to make sure that they are the right ones? Why did they have sleepless nights going over the numbers to figure out yet another way to reduce cost and stay in business? There is one logical answer which may have been deliberately or instinctively on their mind:”The recession will end and I want to be in business when that point in time comes.”

Now we know that by the definition used to identify the existence of a recession, it is over in macro economic terms. While we are uncertain how fast and furious any recovery may be, there will be recovery. Will the economic environment be the same as it has been before this economic downturn? Certainly not. It will be different, maybe better, maybe not, but different for sure! How well are you prepared? Do you ask yourself the important questions?

Again, are you ready for the end of the recession? In other words: Are you ready to really participate in the upswing in a proactive fashion and maximize the benefits you could gain?

• Are you prepared to seize the opportunities the economic upturn will offer?
• Is your organization geared up to effectively and efficiently take care of the “new” business?
• Is the leadership primed to lead successfully?
• Will your team be equipped to cope with hiring and training people in a way that creates results fast?
• Are you and your organization prepared to do more with less, be more productive without raising the “burnout rate” at the same time?
• Do you have a plan to double your output or throughput through increased efficiency of your processes as well as your human capital?
• What are you putting in place to cater to the new reality and make the most of it?

I know, questions, questions, questions…. However, be sure you ask yourself these questions no matter if you are a business owner, entrepreneur, corporate executive, department manager or team leader. Having good answers to these questions and taking action to become prepared now will make the difference in how you and your people will be able to define and manifest a new level of success in a changed economy.

Is your strategy plan up to date? Will it guide you to success? Have you clearly defined what success is for you? In a measurable way? Don’t get trapped by a profit number. That number is only a result of things that you do or do not do. A strategy plan is not the business plan devised by your accountant for your banker. Do you have a clear and shared vision for your company, one that is inspiring, energizing, exciting and gets you out of bed in the morning because of that? What would be the effect on you and your organization if you had a vision like that? Are your organization’s values identified and understood throughout your company? Can you and your people rely on them as the non-negotiable basis of your decision making processes at all times? Do you have an actual assessment of your internal capabilities and capacities? What do you know about the new market environment? New products, services, the competitive situation? Who survived and who did not? There are many more questions to be raised, reflected upon and answered to develop a strong strategy plan. Those of you that do will have a tenfold chance of succeeding and reaching your goals.

Look at your sales force, are they the best they can be to assure every opportunity available is being taken advantage of? Are they operating with a purpose? Are you operating with a purpose? When was the last time your sales “toolbox” has been updated?

Make a serious assessment of yourself and your leadership cadre with respect to effective soft skills and leadership tools, combined with the right habits to maximize your individual output while maintaining reasonable life balance. What picture do you see and what would you like to see? Will it be sustainable when business begins to boom again? What should be different? Consider the fact that the leadership of an organization represents the ultimate multiplier of the effectiveness and efficiency of the whole business – no matter how big or small that organization may be! One of my clients stated recently that her investment into personal leadership development has generated 1,000% tangible return within the first 12 months aside from a host of intangible improvements which are more difficult to measure. Personal development proves to be a good investment when carried out purposeful and with a measurable outcome in mind.

How about the business and production processes used in your organization? When was the last time you went through with a cycle time analysis? How do you objectively measure and assure that your processes are the best they can be? If you do not look at those details with the necessary professional approach, you may be wasting money and resources now when things are slow, and at a far higher rate when they pick up again. A Cycle Time Reduction process can save big money and create a significant competitive advantage.

There is a book called “10.5 Reasons Why Leaders Fail” and the 10.5th reason is manifested by the fact that many leaders don’t ask for help. Do not fall into this trap; ask yourself relevant questions and venture out to get expert help. Relevant questions are especially those that may give you an uncomfortable feeling. Find ways to measure things, there are always possibilities to find good ways to measure. Only then will you be able to identify how something is (or is not) working according to your plan. Peter Drucker stated ”Only what is measured gets done.” And he is certainly right. That has been the case during my 30+ years as a corporate executive and tends to be true with my business clients, too.

Get ready for the new era of economic growth! You know it will come. You believe it is around the corner, thats why you are still in business. Be prepared in the most professional way you can be. Now is still the time to do something about the preparation, when business picks up you won’t be able to “find the time” and this could prevent you from maximizing the benefits of your tenacity to hang in there for the last 3 years – just because you had not prepared the way you could have….

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