Ask any sales person or marketer if he or she is ready for economic recovery and you’ll hear a resounding “yes.” But ask if his or her company is ready to take full advantage of a sudden spike in demand due to recovery and, well …

Companies have been so busy cutting costs and scaling back on investments and expectations (understandably so) that many have put surviving the recession ahead of preparing for recovery.

That could be a very costly mistake, if we are indeed on the brink of recovery.

That’s the assertion of a recent study of U.S. manufacturers by McKinney Rogers.

Here’s how to ensure your company will be poised to come out of the recession even stronger than when it began.

Focus on growth

Of course if you ask, some of your peers will tell you they know a recession offers opportunities to grow their businesses.

Just check out what goals companies set for themselves in the current economic climate:

• Developing/launching new products (39%)
• Improving market share (33%)
• Developing new markets (32%), and
• Strengthening the brand (18%).

All smart moves — and chances are you’ve set some of these goals at your company.

Opportunities are still knocking

So how close have companies come to achieving those goals?

That’s where businesses are coming up short.

Despite spotting many opportunities for growth, a very small minority (12%) of companies have invested in either new technology and products, or even research and development. And a scant 4% have addressed strategic goals lately.

What businesses face next

The best place to start: getting every top exec to sit down and agree on where the company should be when recovery does takes permanent hold — and, more importantly, what’s the best plan to get the company there.

The folks at McKinney Rogers are warning businesses that when the upturn does happen, it’ll be a “very different and tougher market,” characterized by:

• more gun-shy prospects, and
• customers looking for additional concessions and guarantees.

In other words, we won’t return to business as usual when the unemployment rate drops and credit loosens.

It’s time to act

The time for companies to position themselves for that new reality is now.

Options worth considering: Modify or revamp customer payment options, sales reps’ compensation plans, etc.

Now’s as good a time as any to open discussions about what it’ll take to best position your business for a turnaround.

Tags: brand, demand, Economic recovery, McKinney Rogers, Recession, unemployment rate