I was reading my Twitter updates (Tweets) this morning and came across the following WSJ blog by Kelly Evans:

As noted yesterday, the Mid-Atlantic blizzard is likely to impact jobs reports, but the weather isn’t likely to have as large an impact on gross domestic product this quarter, which forecasting firm Macroeconomic Advisers estimates is running 3.1% at an annualized rate after 5.7% growth in the fourth quarter.

Some industries are even benefiting from a “snowstorm stimulus” of sorts. Hotels are jammed with travelers. Supermarket shelves were cleared ahead of the storm as households stocked their pantries and purchased batteries.

At Barbour Inc., a maker of heavy-duty jackets and sportswear based in Milford, N.H., “we could be doing even better right now if we had more inventory available,” says Tom Hooven, the company’s general manager. But high demand means the company hasn’t had to discount its winter gear as much, so profit margins are fatter.

The blizzard is proving a boon to some industries and a stumbling block for others. But it’s a universal headache for those trying to gauge the recovery.

As I pondered the blog, I realized that while planning is a critical function in any company, dumb luck and fate will always play a part.  In any situation, there will be winners and losers.  For an airline, a snowstorm of this magnitude can cause all sorts of problems and delays that will create days of untangling and long lasting customer satisfaction impacts.  Though the airline is helpless to control the weather, the customers may hold them emotionally accountable for missed birthday parties or vacations, or lost employment opportunities.

It is important for business owners to be prepared for any event that could impact their business, and to capitalize on opportunities as effectively as they perform damage control.  The hotels and retail stores were fortunate in this instance, but they may have done even better if they had a plan in place.  Perhaps the hotels could have offered discounts or free meals to loyal customers.  The retail stores could have made a donation to a shelter in a manner that gained them popular press during the blizzard.  Or they could have offered a special discount to their online and Twitter customers.  Moves like this would allow them to move even more inventory and generate positive customer sentiments for months to come.

It is important as a business owner to realize that your customers must come first.  Consumers have more power now than they ever have.  Word of mouth can travel the globe in minutes through text messaging, tweeting, blogs and email.  A story that may have taken days or weeks to develop a few years ago will already be old news tomorrow.  The customer sentiment, however, is longer lasting.  Never forget the importance of happy customers and you will reap the rewards associated with your actions for a long time to come.

A few steps you can take to ensure you are adequately prepared to take advantage of your environment:

• Assess the weather impacts and how they may impact your business, and have a contingency plan in place should the possible become reality
• Keep current on local events, and collaborate with complementary offerings to expand customer satisfaction
• Know what your customers are saying about your business.  Enhance or adjust your offering to meet the needs of your consumers
• Plan, plan, and then plan a little more.  It’s always better to be prepared.