By Matthew Simmons, Snap Marketing
In the face of an economic slowdown such as the one we are experiencing (and I have now been through 4!), its very easy to become despondent and to believe that the only way to survive is to cut back, keep your head down and sweat it out. In a dim and distant past I was a biologist and to my thinking recessions are actually rather like the commercial version of the ice‐ages. The Ice Ages were massive step changes in evolution of life on earth, and we all know what happened to the dinosaurs – but we also know that life did continue after such cataclysmic events – but only life that was able to adapt to the new conditions at the time.
And guess what, when the sun shone again, the ice melted, to reveal a new environment these adaptable life forms thrived. Commercially, the same is true during recessions – only those companies with solid business models, great and well focused products built on a solid plan will thrive after the recession.
So let’s look at one quick strategy to ensure you don’t end up like the dinosaurs!