Surviving The Economic Storm
By Gayle Buske, President and CEO, Team Double-Click®
One of our staff writers recently put together a very nice piece entitled “Surviving the Storm: Creatively Staying Afloat During the Economic Crisis” which prompted me to demonstrate how Team Double-Click® uses these very tactics to stay afloat and even thrive during tough economic times.
In 2007 when the first wave, the Mortgage Meltdown, hit, Team Double-Click®, just like every other company in the country, started to feel the first waves of this economic tsunami. The companies we served slowly started closing up shop one by one. They could no longer afford to stay in business. Because our staff is 100% virtual, we simply cropped staff hours by a small percentage. No one lost their jobs entirely.
These small cut backs allowed the company to remain profitable and more importantly, remain in business for the long haul. Over the last few years we’ve watched as competitors closed their doors, more clients left, and the economy got even worse.
Then things really started to sink for America. A president who promised to raise taxes was elected, the Big Three auto makers wanted your money and ours, and we bailed failing banks out at a neck-breaking pace. All the while we watched more competitors go out of business, along with more clients and small businesses.
To again thwart declines in business, this time we had to get a little tougher with our cut backs. We went through our ENTIRE budget, vendors, and staff. We started thumping vendors for better prices and/or greater concessions, we cut staffing back by 30%, cut some services entirely.
All of these cutbacks happened within…a DAY!
That’s what being virtual allows you to do. At a moment’s notice, you can slash costs and rearrange services to remain nimble and profitable during crummy economic times. When hard times hit, there are no lengthy or formal negotiations to process through – we can immediately do what is necessary for the company to thrive and remain profitable.
Additionally, not all of the staffers who were cut recently lost all of their work entirely. In some cases we were able to place them with clients who needed their skills and expertise. So you could say, that as a company, we sort of shuffle workloads and talent around as needed and to match what best suits the businesses we serve.
I do want to draw special attention to one thing in this article that I didn’t mention Team Double-Click® doing when business began declining. We didn’t stop marketing or selling. Let me say that again. WE DIDN’T STOP MARKETING. In fact, one of the shifts we made was to take budgeting away from backend systems and move it over to sales and marketing. I attribute our ability to continue to grow and thrive during this economic mess, not only to cutting back in some areas, but also to stepping up our marketing.
As our competitors stopped marketing we stepped up our marketing; we filled the gaps and allowed more potential clients to “see” Team Double-Click®. We took advantage of their mistaken lack of marketing. As a result, we’ve actually gained more exposure and more market share during this economic tsunami. All because we’re virtual and didn’t stop marketing.
My outlook for Team Double-Click® during and after this economic cycle? EXCELLENT! While gross dollars are down, profit is steady and market share is on the rise. What more can a company CEO ask for in times like these?
If I did have one wish to be granted though, it would be that every small business (and even large business for that matter) knew and could embrace some of these principles:
- Virtual-working, virtual hiring, virtual offices, and virtual companies can SAVE your business during an economic tsunami;
- Immediately cut back when rough times lay on the horizon – don’t wait – do it now before it’s too late;
- Replace that spendy in-office staff with cloud-based virtual administrative assistants who are more flexible and cost less per hour to have around;
- When good times are on the horizon, start adding back on gradually…but virtually; and finally
- NEVER stop marketing!
Our Virtual Services Reps would love to show you exactly how to go about making your office virtual and help you keep your business thriving during this rough spot in our economy. Feel free to call or email them; each one is intimately aware of how Team Double-Click® has thrived and scooped up market share and are happy to show you how to do the same from the use of our internet marketing-trained cloud-based virtual administrative assistants and lead qualification solutions to exactly how to set your office up to be more “money-efficient”. You can locate their contact information here.
About the author:
Gayle Buske is the co-founder, president and CEO of Team Double-Click®. As the head of a virtual staffing agency, Ms. Buske is uniquely qualified to aid small business owners in their growth and development through virtual administrative assistant outsourcing. Clients across the country look to Ms. Buske and her organization to supply quality cloud-based virtual administrative assistants.
Team Double-Click®, the country’s foremost staffing agency for trained cloud-based virtual administrative assistants – Matching Top Virtual Workers with Top Companies! Visit www.teamdoubleclick.com or phone 888.827.9129 for a variety of full-service virtual staffing options.
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