Welcome to March 2009 edition of the AEC Managing Partner Newsletter.

It is now early March and the bad economic news just keeps on coming. It is increasingly difficult to turn on the TV or read a newspaper - the reporting on the bad economic news is relentless. Even if you are personally doing well financially, it is hard not to get caught-up in the downward mental spiral of "the world as we know it is coming to an end".

As a cable news junkie I think a 30 day rehab is needed for me to kick the habit and get my head on straight. Since taking 30 days away from my business is out of the question, I will try to do it on my own. Cold Turkey.

I vow not to watch any cable news for 30 days starting now. Of course this begs the question - "What will I do with all of my free time?" The short answer is that I will do something productive that will produce a long term benefit for my clients and my business.

I have been down this road before, where if it wasn't for bad news there wouldn't be any news at all. The choice that each of us has in times like these is to get caught up in the bad news and let the events consume us - or to look for the opportunities that are created by adversity.

I call this the opportunity of adversity. When times are good we tend to party. When times are tough we tend to ponder. The process of evaluating where we are and what we want to accomplish is the key to our future success.

If we refuse to be consumed by the events and be on the lookout for opportunities created by these very events we will not only survive but prosper. For me it means finally producing more products such as benchmark surveys and webinars of a quality and price that will benefit the A/E industry and my business.

Where are the opportunities for your firm? Some questions that might help you zero in on the answer is - "If I could remake my business what would it look like? Who would my clients be? Which of my current clients would I part ways with? What markets would I serve? Which employees would I keep? .....

You get the idea. It is a worth while exercise that may very well set the stage for your future prosperity. I challenge each of you to take at least several hours to evaluate your business and professional life. When you are done come up with a plan of action to make it happen.

I look forward to you sharing your story and plans with me. I also want you to hold me accountable for producing the benchmark surveys and webinars that I have promised.

Best Wishes for success with the opportunities created by adversity.

Regards,

Herb Cannon

Incentive Compensation & Bonus Benchmark Questionnaire is now Ready

Are you tired of paying $445 for industry benchmark surveys?

If you are tired of paying outrageous prices for A/E industry benchmarking surveys, you are not alone. For years, I sat back and wondered how the Zweig Whites and PSMJs of the world could get away with their pricing. Every year their price seems to increase while their content stays the same. Many A/E firms have resorted to purchasing the surveys every 2 to 3 years. Because of the prohibitive cost, some A/E firms have stopped purchasing surveys altogether.

After years of sitting back and admiring the problem, I have decided to take action - and publish competing surveys at a dramatically reduced price. The first survey in this series is:

Incentive Compensation & Bonus Benchmark Survey

Lower Price - Not Less Content
My commitment is to produce surveys that equal or exceed competing surveys in every way. There will be charts, tables, graphs and narrative that will allow you to benchmark your company against your competition. The survey results will be presented in a way that will allow you to immediately zero-in on areas of your company that need the most attention.

You are invited to participate in the surveys - and reap the rewards!
In order to achieve my goal of producing competing surveys at a drastically reduced price, I will need your help. Simply put - I need you to participate in the surveys!

Your Reward for Participating
1. Entry into a drawing for a $500 American Express Gift Card. All Survey respondents who complete and return the survey by the due date of April 15, 2009 will be entered into a drawing for a $500 American Express Gift Card.

2. All survey participants are entitled to receive a copy of the benchmark survey results for only $49. The final survey results will be priced at $225 for non-participants. The order form enclosed with the survey. This discount is over $175 off the AEC Management List price of $225 and almost $400 off the Zweig White or PSMJ list price.

P.S. Even if you don't intend to place an order - I need your help in completing the survey. You will also be entered into the drawing for a $500 American Express Gift Card.

Business "Don'ts" for Difficult Times

by John Forde (02/9/2009)
You can't open a newspaper, flip on the television, or open an Internet page these days without seeing something about the current economic crisis.
When all the media trumpet the same tune, that's supposed to indicate a trend reversal in the making. So does that mean we've hit bottom and things can only get better? Um& maybe not this time.
2009 probably WILL deliver a lot more rough stuff. Many, especially business owners, are at a loss for what to do to prepare.
BusinessWeek recently had some suggestions. And while I'm usually skeptical of populist media advice, these tips seem pretty sensible.
Here's the "Cliffs Notes" version:

1. Don't panic. You can't sit still, but you also don't want to swerve like a drunk on ice skates. Cycles happen. Sometimes they happen hard, but we'll come back around eventually.

2. Cut fat, not muscle. And marketing is muscle. A slowdown is the ideal time to snatch up market share.

3. Don't water down your sales message to "go wide." When you're desperate for customers, it's easy to try to widen your market appeal. Stick to your focus. Just get better at it.

4. Watch out for "discount training." If you keep offering "special deals," eventually the deals are no longer special. And all you're doing is training your customers to learn to wait for the next deal instead of buying right now.

5. Don't ignore the facts, just have a plan. You can't wish away the economic crisis by ignoring it. Mention it to your employees, but do so in the context of showing leadership on how to get past it.

This article appears courtesy of Early To Rise, a free newsletter dedicated tomaking money, improving healthand secrets to success. For a complimentary subscription, visit http://www.earlytorise.com.

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