Paul David Walker Shares Do's and Don'ts for Thriving in a Recession

LOS ANGELES, CA--(Marketwire - Aug 23, 2011) - Paul David Walker, business advisor to mid-sized and Fortune 500 CEOs; founder of Genius Stone Partners and author of "Unleashing Genius: Leading Yourself, Teams and Corporations," has led executive teams through mission-critical decisions for over 25 years, and he's sharing his proven strategies for guiding businesses successfully through a recession.

"Most companies get spooked by a recession and start cutting the wrong costs," says Walker. "Customer service, sales, branding and advertising are all critical to growth. And when the cuts begin, employees start to panic. Their productivity and creativity decline, and fear of making mistakes creates a downward spiral that can impact the bottom line indefinitely."

Wise leaders, he says, take a more thoughtful approach. Walker advises savvy CEOs to look for opportunities and develop creative solutions to weather the financial turmoil and emerge more successful than ever.

1. Relationships are most important. It is relationships that will hold employees, customers and vendors together through tough times. Fortify your bonds and prepare to rise together as things improve.

2. Capitalize on every opportunity. Clearly communicate to employees and customers that "We are not participating in the recession, we are taking market share." Make sure everyone knows his or her role, and prepare your team to capitalize on the changing business dynamics of the recession.

3. Create a "Recession Value Proposition." Adjust your company's normal value proposition to accommodate the new economic circumstances. As customers look for ways to cut their costs, your company should be on the list of untouchables they can't afford to do without.

4. Extend your team. Foster a "we're all in this together" mentality with vendors, and leverage those relationships to arrange temporary deals that can carry client relationships through to the other side. Offer the flexibility and creativity that will sustain customers through their own tough times.

5. Grab available market share. Most of your competitors will fail to adapt to the changing realities of the market. When they fall prey to overextended credit, outdated technology and inflexible pricing, make sure your company is the one that's there to offer their customers workable solutions.

6. Create an optimistic environment. Doom and gloom becomes a self-fulfilling prophecy. If a leader says things are bad, employees start looking for other jobs and begin to focus on their own self-interest. Create an atmosphere that inspires them to develop solutions and come together as a team, united toward a common goal.

Walker provides a wealth of tips and strategies for successful leadership on his website. Visit www.geniusstone.com for more detailed information on surviving and thriving in a recession.

About Paul David Walker: Paul David Walker was part of the first leadership firm designed to align strategy, structure and culture to fortify some of the largest companies in the United States, including Star-Kist Foods, Conexant Systems and New York Life. His own genius lies in integrating business strategy and philosophical insights, guiding the leadership of major companies with a holistic approach that allows them to grow grounded, stable and balanced -- and ultimately, become much more successful leaders. While many in his position come into companies with a theory and models, Walker's approach is an applied science gleaned from first-hand experience. Some of the most influential leaders in American business have relied on him for expert guidance since 1984. (www.geniusstone.com)