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How Recessing
March 10, 2008

I could have said "how depressing" but the economy is not that bad….yet. 

I'm looking and hoping for good economic news but those sparks are few and far between. As we get used to the talk about recession, adjust to skyrocketing commodity prices, and actually get used to oil well over $100 per barrel, I feel that those in our profession will be under incredible stress and pressure to cut costs like never before. There is so much pressure on costs that is will be almost next to impossible to completely stem the rising tide of price increases.

I get so awful tired of the "show your value" mantra. I hope we are past that and really have evolved from buyers to business managers and advisors. Based on those I speak with, some have and some haven't. It's never too late. Can you be expected to kick all price increases away like a high performing NHL goalie? Hardly. But, you can do your best to understand market dynamics, supply constraints, supplier performance issues, and short and long term business trends. And, be an advisor to your company. We often hear the news, both good and bad, first. Share it, liberally.

Ask your suppliers and your customers what pressures they feel. Read the market studies. Learn more about your business..Contribute to your firm's success. Show your value? That's old news. Be depended on for value? Now, that's today's news. Any buyer can do well in an expanding market. Business professionals do well in down markets.

Posted by Richard G. Weissman on March 10, 2008 | Comments (0)