by Neville Gilfoy

 After hundreds of conversations with CEOs and business owners this year, it's clear that we have to develop new models. The good news is that this is happening, and some of the most progressive ideas are coming from this region.

Still, no one will deny there's been major change in the past 18 months, and while we in Atlantic Canada have weathered the recession reasonably well, there has been some pain. My contention is that we may well have exacerbated it ourselves.

I noticed three themes from my conversations, and here's my take. First, we have to understand what is going on around us and how it impacts our business. Not just the economic climate, but also the stuff right in front of our noses. Second, more effort must go in to relationship-driven growth. Thirdly, it's all related to people.

So, what just happened? Companies made dramatic reductions to their expense lines. When coupled with delays in making investment or purchasing decisions, many companies also experienced a 20% or 30% drop in revenue. Because we were afraid something would happen to our bottom line, we caused it to happen. Seeing and understanding what's going on around us and making good decisions is critical.

Next, relationship building is unequivocally the way to increase revenues in tough market conditions. Leaders need to be involved with client relationships—starting, building, and maintaining them. But customers don't want what you're selling; rather, they want to invest in solutions that meet their needs. And you can only offer solutions when you fully understand. It may sound blindingly obvious, but you must invest the time to be a problem-solver.

Finally, it's no secret that people issues are the main concern of every leader. If your company isn't yet values-driven from top to bottom, an overhaul must become a priority. The new generation is not interested in jobs that aren't responsible and meaningful. They are the people you want in your company, and they'll be managing your precious customer relationships. But make sure you understand each other.

And when those people someday leave your company—which statistics show they are inclined to do—you can't afford to view them as merely ex-employees. They are rather ex-pats and stewards of your brand. How? Because they're also customers and influencers of others who might someday go to work for you. You must continually market, both internally and externally, always with a 360˚ view of every relationship.

I've gleaned this information from real conversations I've had with local leaders—CEOs, managing partners, entrepreneurs, and friends. Take it for what it's worth, but that many smart people can't all be wrong.