Feb 7 2008 11:35AM | Permalink | Email this | Comments (0) |
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As I wrote about earlier this week, we're now collecting information for this year's Market Leaders list.

The early returns are showing us that these companies, some of the biggest in the country, saw downturns in business last year. In some cases, revenues dropped by $5 million or more. There are certainly exceptions, of course, but the trend is definitely downward. And the bad news is that many are expecting 2008 to be worse.

Why? Well, some are blaming the media (Not me! -- I don't think your customers read this blog. Not unless I write about Jose Luna, anyway). Many say the credit crunch is really starting to hit their customers. Others point to a lack of confidence in the economy in general and housing in particular.

But these companies didn't get to be Market Leaders by accident. They're taking steps to make it through these tough times. Most have increased their investment in marketing (click here for my recent blog on that), are tightening costs and accepting smaller jobs. Many are having to let people go and are focusing on improving systems and efficiencies.

So what are you doing to make it through the downturn?