Survive the Downturn: Redefining Creativity

After many years in business many have mastered the basics. What gets you out of bed in the morning is not managing a percent or two of margin or making sure that the cigarette butts are cleaned off the parking lot. You get excited about new initiatives, new products and vendors and thinking about the next big idea.

Unfortunately right now, in many markets, discipline is picking the winners and losers. Those businesses that set budgets,study margin and tightly manage staff are the companies that will come out of this recession with the cash position and without the debt burden that will allow them to gorw, innovate and take advantage of the rebounding economy. Those who don't plan, work the plan, review the plan and go back and work it again are likely to spend the recovery rebuilding rather than getting ahead.

In a good year, the buying process can be one of finding the best new introductions to delight your customers. It's a mission to take well calculated risks that keep you out ahead of the competition. This winter trade show season may be better spent negotiating the prices with your customers or vendors that allow you to move consistently strong items at a price that generates profits while allowing you to be competitive.

Lest I sound like I am advocating a break from innovation and creativity, I see this as a new creative challenge, a new chance for innovation. It's a matter of redefinition. When you set the goal of driving profits, minimizing risk and continuing to deliver a consistent brand experience to your customers, as opposed to being the newest, the farthest out front, then you can jump in with the same energy you bring to work everyday.

The goal is still to make the headlines, however, this headline is written "the most profitable businesses of 2010."