Business news forecasts have remained relatively consistent over the past few months predicting slower times for manufacturing and industry and uncertainty around the economic downturn in the US. Provincial and federal budgets are setting the pace with a “we're spending less, but we're still ahead of the game” approach, and consumers are following this lead. Because the number of Canadians using two-wheeled vehicles for primary transportation is relatively small, most powersports dealers are looking at offering a non-essential, mostly for fun product in a market preaching prudence. In times like these, business strategy must adjust to meet fluctuations in demand, but a basic principle still applies: showcase your best assets and stay top of mind.

No matter the size or direction of a business, a company's most valued asset is it's employees. Talk about a walking, talking breadth of first hand, unique advice about what works and what doesn't at the consumer level. A quick flip through the Yellow Pages might list a zillion marketing and research companies offering unparallelled results in finding out what your customers want and expect, but the real experts are right there in the store, every day. Though it's important at all times of the year, the best way to reinforce a strong presence amid economic uncertainty is to boost staff morale, tap their knowledge and enhance productivity by partnering with them to make your business the best it can be.

Fundamental changes affecting the role of staff need to begin with the development of a partnership between employers and employees. Since employees are the face of the business who more than likely have the most contact with customers and daily operations, ask them for feedback on the customer base, the efficiency (or lack thereof) of daily operations policies and on what they themselves need in order to feel pride and a sense of ownership of the business.

Weekly meetings or even daily “five-minute check-ins” pull people together and create a team environment. The message should be short and to the point, with a good mix of positive and critical feedback and enough time for everyone to have  a say. Meetings are a good opportunity to build trust, especially if employees begin to see their feedback and ideas implemented in a visible, consistent way.

It might seem like a small thing, but putting some extra effort into keeping the store immaculately tidy, creating new displays or giving the staff room a makeover can refresh a space and the people working in it.

Plan activities outside of work, say once or twice a year, that bring the entire team together in a relaxed, be-yourself atmosphere. The very act of opening up your free time or even your home for a day suggests trust and comfort – essential ingredients for a successful team at work.

No matter the scenario, resist the urge to cut wages as a way to save money when times are tough. External market factors might be affecting business revenue, but the market value of an employee's responsibilities and skills hasn't changed. If anything, this is the time for profit-sharing plans, which place the focus on productivity, engaging staff, helping the business and giving owners more bang for their buck. Alternatively, consider continuing education or supplemental training seminars to boost initiative and productivity. Besides arming staff with skills they can use to raise the business's bottom line, training opportunities help employees feel valued, capable and determined to be a driving force behind the business's success.

Another area that often takes the brunt of slow-economy anxiety is the company's marketing budget, despite statistical evidence that those businesses that continue to market or even increase marketing efforts during downtimes experience far better growth during and after the lag time. The truth of the matter is that even when a market is suffering and consumers are watching their spending, they are still thinking about all the extras they'd like to have. Staying present when times are tough gives the impression of resiliency and staying top of mind means when the market straightens out, consumers will be thinking of you first and foremost.

Like most things in life, attitude or perception goes a long way. Anything you can do to boost morale, enhance productivity and engage employees as partners in the business's success will help carry your store through the worst of times. Even if the bottom line stays low for a while, the image of strength and cohesiveness your effort presents will show employees and consumers that no matter the case, your business fosters resiliency by recognizing and uplifting its greatest resource.

CPT