Winning in Business

So right now there is a economic downturn in some parts of the world. Many will say it’s global, but the turth is that it isn’t because there are countries growing out there (China, India and Peru). This downturn or crisis causes people to lose confidence and to stop investing and stay safe at home.

 

But that’s wrong.

 

This is the time to start winning in your business. For sure your market has slowed it’s growth or even started decreasing. So what? Well, right now i see that as a great opportunity to become more efficient in what you do. Maybe you don’t need those extra servers consuming energy or that extra I.T guy. Ok you’ll contribute to job losses, but you can also ask that guy to find a way to make himself add value to the business and become more efficient in what his collaboration is. The point is that when cash is short you find incredible ways of saving money without losing the quality of service. 

 

You can also move to a bigger office for the same price (that’s if you’re still with high sales and profits). For example, TechCrunch found a nice office and the chance to move thanks to the downturn. This new place will be cheaper and you can make your office a good place to attract talent when the growth period begins again. 

Also, many more stuff will be cheap. Let’s say for instance a company goes out of business (i.e Circuit City) you can buy all of their servers, machines, etc. for a cheap price and end up with good equipment to start making your business more efficient. You could add part time workes or even open a co working space with those extra pc’s , servers or furniture. 

Finally in times of crisis is when the team can grow together stronger. You’ll have to make some tough calls as the leader and you can make them point to a goal of integration. For example, instead of downsizing your company you can tell your employees you’ll cut their salaries in a porcentage and increase them when the sales and profits increase so that all of you can go through the crisis without losing your jobs. You can also try and make integration events so people can get to know each other in order to increase trust, reduce bureaucracy and increase efficiency.

Sometimes this things are easier said than done. But, in a business things are always tough to do than what they look on paper.

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