Jul
30
WRITTEN BY:
Roger Barlow
Thursday, 30 July 2009
If I had a dollar for everyone who has asked me ‘how is business?’, I would be sailing the world on my 80’ yacht and ignoring the GFC! However, since I never get around to asking for the $$$, my response—‘business is good thanks’—generally elicits one of two reactions:
‘Really? But the world is imploding, there’s no cash and we’re all doomed ...’
or
‘Yeah, I agree—flat growth but busy as always.’
Now, there are probably a whole host of reasons for this: optimism vs pessimism; too many people busy reading the press rather than observing what’s happening in their own world; or perhaps their business doesn’t have a strong enough value proposition that clients will want to continue to work with them through these turbulent times.
However, it could also be the clients you work with. Some of the most successful businesses are those that actually ramp up investment in a downturn, so when the market heats up they are stronger and ready to grow. In actual fact, it makes more sense to invest when business is stable: resources are a bit cheaper; your team has some slack time; and it generates a good, positive vibe that the business is solid and looking forward to the inevitable upswing.
Of course, your business must be strong and your leadership committed. But when the market starts to accelerate again, ensure you have invested while you have the time to think about it and get it done ... otherwise you might find that your competitors have used their time more wisely than you!