Getting a lot of great questions from Here’s the Deal folks for next week’s call about setting direction. My answer usually starts with “it depends.” In this case, it depends on where you are at RIGHT NOW. Those in a weak position need to get real and get ready for reduced revenue. Time is not your friend. You need to act now — even if it’s to get a job to tide you over –to shore up what assets you have. This is not the time to be proud. Accept where you are and cover your flank. And remember, this too shall pass.
For those experts not up against a wall, it’s time to turn predator. Shed the “maybe this will work” and stick to your knitting. If you hunker down too much, you’ll pass up opportunities that keep you strong. If you go too far away from your core capabilities, you’re risking too much for too little. Think: intelligent risks.
Here’s an article that outlines five clear action items. Yes, the comments are geared to larger businesses, but the application to us is real.