Vol. 18: November - December 2008
www.renardnewsletter.com
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A recession is the result of public’s belief in the future. If the public and/or your competition believe that things are getting worse, we have a recession. A recession ends when people believe it is over! MARKETING TO BEAT THE RECESSION! I am not sure how many times since I have started in “hospitality search” in 1970, that I have gone through recessions caused by everything from; financial crisis to terrorism to SARS! Strange as it might seem, recessions do end ….. and “everyone lives happily ever after!” It’s funny how I see everyone doing the same “recession after recession”! People stop everything and go into a “siege” mentality. This includes “stopping business development, protecting one’s turf and slashing all marketing and hiring.” General Managers become “executioners” and terminate people in order to save costs and most times they think it will save their own jobs. Once the recession is over, they kick themselves for their drastic actions as they can’t find good people again. 38 years ago when I had started and more so in a competitive business environment today, your employees are your most valuable assets. Why terminate them when you know it’s going to cost you twice as much as you save to replace them when the recession is over. In good economic times when the hotel industry is growing, everyone is positive. When the recession hits, half of your competition don’t get out of bed in the morning. The other half does gradually become more depressed and not motivated. The half that are awake are demoralized and are under so much pressure to fill their hotels, they stop giving quality service. Even the few who are heads up, don’t understand how to win in a recession. This just leaves you and your clients out there to continue to do business in a proper and professional manner. Well-established successful hotel groups have the same thing in common; they tend to make their greatest competitive gains during the worst economic times. SUCCESSFUL COMPANIES DO NOT BELIEVE WHAT THE VAST MAJORITY OF OTHER PEOPLE BELIEVE, AS THEY HAVE BEEN AROUND AND KNOW RECESSIONS END! So, instead of running away and hiding, why don’t you speed up and invest more! Instead of becoming negative now, become even more positive and motivated, and you will become like these successful hotel companies. “The leaders of our industry” and you, and your hotels will be full. ARE YOU DEPRESSED AND DEMORALIZED …… OR MOTIVATED AND SUCCESSFUL? See you: Call me to say “hello” at my Global telephone #(1) 416-890-0903.
At Renard, customer service is not a "Department" it's an "Attitude"! Sincerely, Stephen J. Renard www.renardnewsletter.com |
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Regards,