What does S&P’s downgrade mean for sales? In a word: Stalled. Right behind the fear of God is the shortage of money. On Friday January 13th Standard & Poor’s (S&P) downgraded 9 European nations.
France and Austria were stripped of their triple-A credit rating. Three smaller euro-zone countries (Malta, Slovenia and Slovakia) also suffered a one-notch downgrade. Italy and Spain had their ratings knocked down by two notches (to BBB+ and A respectively), as did Portugal and Cyprus, whose debts are now considered junk by S&P.
What does this mean? Buyers will probably regress back to their 2009 behaviour – delay buying decisions until the ‘coast is clear’. However, companies must remain in business in order for the CEO and all of their stakeholders to collect their paycheques. So, here are three things to consider when you are interacting with clients and clients-to-be:
1. Find out what they NEED to stay in business and give it to them (for a fee of course).
2. Differentiate yourself from your competition.
3. Inspire them to commit now.
In the next blog I will show you how to accomplish these 3 steps.
“I was delighted by how fast Pauline got up to speed when she began working with us. She ensured that we surpassed our goals for last quarter, and is continuing her collaboration with our organization in the role of team advisor.” – Vinetta Peek, CMA (Hon.), CMA, Vice President Marketing & Programs, Certified Management Accountants
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