If our fiscal climate is going to stay the way it currently is, do you have the means to keep going at this pace?
Can you look at your current cashflow and accept that this may become the new norm for the next few years?
When things get tough or tricky like this, we often risk taking mis-informed decisions where the impact resonates further than just on the balance sheets. It can affect morale, motivation, values, and attitude that risks you becoming a shadow of who you are on a good day.
Now’s a great time if you haven’t done so already to look at what your core capabilities are and plan how you’re going to make them stand out in your market. What is your business’ essence? What are the things that differentiate you from the others.
People in a recession don’t look for businesses that can’t cope or those that strangle all the non-tangible value in an effort to reduce costs. People look for those who stand out and can enhance their own morale, motivations, values, and attitudes.
The art of business is not just about the cash – there are tens of thousands of businesses out there that started out on a dream and continue towards achieving it. Why park your dreams when the going gets tough?
Don’t let the recession affect your heart and your head when it comes to making plans for the future of your business. It is time to re-adjust your plans and mindset as you face up to the reality this recession has created but be sure not to cut off your nose to spite your face in this instance.
Make plans that make sense.
Susanne Dansey is the Managing Director of Purple Cow Ideas Management – an organisation that helps technology organisations redesign their business models to help them build better relationships with their customers. You can follow the team on Twitter and join the conversation on Facebook.