Solid Fundamentals

Like all of us, I have heard a lot about the predictions of gloom for the world economy over the past few months. No doubt about it, we're in a recession, and we're likely to stay here for at least 6 months.  During that time, we are going to see some damage in the publishing industry.  Advertisers are drawing back and that alone will be enough to doom those companies without strong fundamentals.  Smart publishers and companies with longevity, strong brands and loyal audiences will survive. Here are a few ideas for keeping in their company in a down economy:

• Create evangelists.
  Everyone associated with your organization should be your evangelist. Every customer, partner, and employee. Talk to those people, and find out why they do business with you. Doing so will likely reconnect you with some of these important people. You, and they, will have a context to get fired up about your company again, and excited people talk.
• Strengthen your audience.
  Your audience identifies with your publication's voice. Stay connected with that audience, engaging them in new and unique ways, potentially via interactive or mobile media.  Build community around your brand.
• Stay the course.
  When legendary Texas football coach Darrell Royal was asked about his strategy for victory against difficult opponents, he often said, "You dance with them that brung ya." This was Coach Royal's way of saying we will stay the course and continue to reinforce the same fundamentals that have brought success.
• This is your chance.
  When times are fat, we get lazy and don't work on improving across the board. Naturally, after some time of this, we'll complain about the dificulty we find ourselves in when times are hard. Negative reactions rarely lead to posivite results. Take a new tack.  Use this time as an opportunity to examine and refine your business processes.  Build in new efficiencies where you can.  Learn to be lean, and to do more with less. This is your chance for greatness.

Like the coach says, solid fundamentals got you to the dance in the first place.  Stick with those, reconnect with everyone, and developing a renewed focus on efficiency will keep you on your toes.