DUCK AND (RE)COVER
The Embattled Business Owner’s Guide to Survival and Growth
by Steven S. Little
author of The 7 Irrefutable Rules of Small Business Growth and The Milkshake Moment
Business owners everywhere are trying to navigate through a storm of economic uncertainty, aiming to chart a course not only to survive, but ultimately grow. Business growth expert Steven S. Little has responded with a timely new book that offers real-world strategies for prevailing and prospering in tough times.
DUCK AND (RE)COVER (Wiley; July 6, 2009; $22.95; hardcover) is a no-nonsense guide for running and growing a business in a downturn. An amiable contrarian, Little discounts oft-repeated generalizations, declaring that the road to success often means rejecting conventional business wisdom and relying more heavily on logic-based common sense.
“Embattled business owners,” writes Little, “are presented with an ever-increasing number of difficult decisions. In good times, they take bold actions because they clearly see the potential rewards. However, when faced with the more troubling dilemma of picking among alternatives viewed as risky, or unpleasant, many chose to do what they have always done, or to do nothing at all. They stick to the status quo. And status quo is the enemy of business growth.”
With examples from real life companies that range from a large craft supplies manufacturer to a small specialty bakery, a high tech firm to a commercial printing company, Little urges every business owner to first “duck” which he defines as getting your business ready to be in the proper position to “recover” when opportunities emerge.
Little’s advice is comprehensive, touching on everything from pricing strategies to profit margins, marketing initiatives to cash flow imperatives, but the book is also very readable. In order to effectively “duck,” Little believes that every company must be sure to develop:
* A sound cash management monitoring system encompassing all of the relevant data
* A realistic understanding of which customers are worth the effort to retain
* An organizational environment that fosters TRUST in the people who work with and for you
* A written crisis plan that is well-communicated and regularly updated
* A well-rounded team of objective, expert advisors
* A comprehensive marketing strategy that puts you in the best position to seize the inevitable opportunities created by change
Together, these “duck” strategies will put companies of every size in a better position to charge ahead when the current crisis abates.
Along with the survival and growth strategies, Little also debunks what he thinks of as business urban legends, including the popular adage, “it takes five times as much money to get a new customer than to retain an old one,” and offers a look ahead to the opportunities that have always followed difficult times. A quick read that is packed with practical advice that business owners can act upon immediately, DUCK AND (RE)COVER, arrives just in time for today’s persevering business leader.
About the author
Steven S. Little is a much sought after speaker, consultant and writer on business growth and the future of opportunity. He speaks to thousands of owners and managers of growing businesses and communities each year. From 1988 to 1999, Steve was president of three fast growth companies. He is also the author of the best-selling The 7 Irrefutable Rules of Small Business Growth (Wiley, 2005) and The Milkshake Moment (Wiley, 2008). Steve is a graduate of Miami University and has studied at The Institute for Management Development in Lausanne, Switzerland and The University of Houston’s Future Studies Program. Steve and family live in sunny Wilmington, NC and historic Merida, Mexico.
DUCK AND (RE)COVER:
The Embattled Business Owner’s Guide to Strategy and Growth
Author: Steven S. Little
Publication date: July 6, 2009
Hardcover, 224 pages