The thrust of the earlier article can be interpreted as follows:
- This recession is an opportunity to step forward or fall behind.
- In the last recession, those that fell behind found it hard to catch up after the recession was over; those that stepped forward maintained their position after the recession.
- For sound businesses with a robust business model then this recession can be seen as a golden opportunity.
- For businesses with a faulty or flawed business model then they are hugely exposed
Talking to clients today (you know who you are!!) we have spoken a lot about what makes a good/robust business model - being in a relatively recession-proof industry certainly helps!
Seeing opportunities and having the confidence to invest time and money in them seems to be a key issue. Is this the time to hold back? How deep are your pockets? Have you got the bottle? What is the potential downside and what's the potential upside?
Either way, take action, now!
Step Up or Step Down - Which Strategy for Recession? - yesterday's blog