Avoiding the Common Mistakes of a Downturn
Stock markets may be crashing and a few massive corporations crumbling, but Tim Searcy of CRM Daily says the worst thing you can do is panic and make knee-jerk reactions. “Cut investment — This strategy works if you had an ineffective investment plan to begin with. However, if the reason for increasing technology, securing more bandwidth or creating new training was sound before things got tough, it should be sound now. Now is the time to invest. At no other time will you find partners as willing to negotiate price and terms as during this downturn.”

It Takes More Than a Resume to Get a Great Job
College Recruiter’s Liz Handlin gives some advice to job-hunters who cling to the old notions of what it takes to get hired. “A resume isn’t the only tool you need in your arsenal to get a job. In fact, I have known some uber-talented folks who have crummy resumes and who keep landing great jobs because of the strength of their networks, educations, accomplishments, interpersonal skills, and ability to market themselves. Each of these elements is important to job seekers – some more than others depending on the relative strength of some areas of your background. A great resume will help you to get noticed but it is by no means the only thing you need to prepare for a successful job search in an economic downturn.”

The Best Insurance Policy You Could Ever Have … Especially In A Recession
Scott Bradley talks about the importance of having a well-built personal network during tough times on Brazen Careerist. “The individuals who have nothing to fear are those who are highly connected in their niche. Each of these very individuals who are highly connected, and who understand that “Connectivity is the New Currency In This Day And Age,” as my friend Michelle Price says, are those that thrive in their life no matter what the economy is doing.”

Working Smarter Can Help Turn the Economy Around
Bob Picciano, General Manager of IBM Lotus Software, lists nine key factors contributing to a smart transformation in businesses this year on CIO.com. “Universal access to collaboration technology on any device will redefine what it means to be “at work” in an increasingly mobile and globally distributed workforce. Improved applications for mobile devices will offer enterprise office levels of security, flexibility and ease-of-use.”

New business guide has advice for tough economy
Jan Norman of the OC Register highlights the need for managers to examine how they’re running their operations and plan to take advantage of the eventual rebound. “Define your unique value and explore additional revenue streams. Take the time to revisit your position in the marketplace. Be certain that folks understand your unique offering and how to get it. Also, don’t be afraid to diversify into a complimentary business. Don’t retreat into your core business and overlook a chance to leverage your existing infrastructure.”

Overreacting to economic downturn?
Tech Forecasters’ Kathleen Geraghty is calling for restraint and reflection in making important business decisions. “A common overreaction, which can have negative long-term effects on companies, is making across-the-board decisions to reduce investments, compensation, and head count by the same percentage—in all divisions and functions. Our interviews last quarter revealed a number of corporate-wide directives to reduce expenses or headcount without consideration for the performance of a business unit. There is no denying that cost reductions are necessary and this broad-brush tactic may be an expedient way to achieve a corporate target, but they can be damaging to technology roadmaps and employee commitment–both critical to innovation.”

Five Ways to Lead More Effectively in Tough Times
On his blog, Kevin Eikenberry shares his insights on corporate leadership. “Communicate goals and vision. When things seem uncertain or challenging it’s especially important to focus people on the big picture. Does your team see the vision for the future? Do your people know the most important and meaningful organizational goals? As a leader it’s your responsibility to make sure the answer to those questions is YES. Spend more time communicating, sharing and engaging people in your picture of the future and their place in it. Not only will it help people see past today, but it will focus them on something positive and helpful.”