Tip #1: Practice Open Book Financial Management Firm-Wide.
Everyone owns the numbers and the well-being of the organization. Open review of P&L and questioning of expenses at month end. Review of numbers from cash to revenues – consistent transparency around status of the numbers leads to ownership. Openness about issues / challenges and team trouble-shooting.

Tip #2: Set Up A “Shazam” Program!
Leaders think that recognition comes in “hard forms” such as cash and bonuses. However, “soft forms” can be quite powerful. At sweetriot, we set up a program called “Shazam” to recognize the right actions on a daily and weekly basis. In our weekly meeting (called a sweeting), I give shazams at the end to team members for specific things they have achieved in the past week. On a daily basis, the entire team emails shazams to each other when progress is made. This keeps the energy high.

Tip #3: Make Sure Every Dollar Goes Towards Sales.
Just say no to budget items that aren’t sales focused. Keep the focus on sales being the ‘lifeline’ of the organization.

Tip #4: Vision First.
Don’t lose sight of the end goal – what are you going after? In our case, Vision 2010 signs are hanging in the office for a longer-term focus.

Tip #5: Increase spending on sales and marketing.
As companies across the nation look through their financials for every possible place to save, it becomes tempting to trim on sales and marketing costs. This is a fundamental mistake. In fact, we are increasing our investment in marketing and sales initiatives by nearly 25% over the next 15 months. Now is the time to put more attention and resources into innovative and creative marketing and sales techniques. Stretch yourself and be bold in exploring new ways to reach your audience.

Tip #6: Meaningfully engage your employees.
Employees are the lifeblood of every company, and more often than not they have the ideas and solutions within them - if you just ask. Spend more time with your employees, talk with them about themselves and the business, and use this difficult time to reinvigorate your company culture with back to basics recognition and rewards.

Tip #7: Frequently and meaningfully interact with your customers.
By listening to your customers more often during times of insecurity, you can truly understand their fears and motivations. Equally important, you can often imagine new opportunities that help both of you to weather the storm.

Tip #8: Don't cut costs - spend more wisely.
Companies used to focus on cost containment. Instead you should focus on spend management. It is one of the most critical undertakings in times of insecurity. Engaging qualified and tested experts in spend management - while a big investment - can often reap both long and short term rewards. In the short term, they can help you identify ways to spend dollars more effectively on your priorities, but in the long term they help reengineer systems and processes that make you more efficient, nimble and agile in your execution. While this may seem counterintuitive, the rewards can be hugely beneficial.