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As the economy continues to face turbulent
times, companies and organizations feel
tempted to cut costs, resulting in little or no innovation. But many fail to understand
that this can lead to disasters like death of the company once the recession is over. So as
many experts in the industry opine, it's wise not to
take recession as a chance to have a laid-back
approach to things, but take it as an opportunity to
charge out with extra vigor so that you can easily
stand out from the competitors once the bad times
are over. This means increasing accessibility and affordability and tapping the underserved
market. This requires training and coaching sales
and marketing staff so that they master powerful consultative and innovation skills to turn
a prospect into a client.
According to Stephen Shapiro, a writer and a Business Consultant, "If you are truly
innovative, you will fail. If you don't fail, you are playing
it safe. Therefore, if you are going to fail,
Fail Cheaply." He adds, "Before You Can
Multiply, You Must First Learn to Divide." According
to him, the idea behind this is that if you want
to grow your business, you must learn to partner with others - and give them a slice of
your success. Also, one must be careful not to
indulge in extravagant luxury during this period.
Recession doesn't mean that the world has come
to a standstill. It just means that certain business
has become unwanted and certain others must innovate and reinvent themselves to suit
the society's needs. It is an opportunity for the corporate world to rectify the flaws that caused
the present system to fail.
Thus, it is an opportunity in disguise for
those who seek and pursue it. Regardless of what happens to the economy, people still have
needs and it is these needs that young and budding entrepreneurs need to capitalize on. |
