Sink or Swim

In tough economic times, a lot of people understandably get scared. They are afraid to invest, afraid to expand, afraid to risk what they have in pursuit of a shrinking source of revenue. Their jobs, and their ability to pay their bills -- are at stake, so this is an understandable fear.   

When the economic current seems ready to sweep them away, they have 2 or 3 strategies at the ready.

Stay Afloat
Live long enough to tell the tale. This strategy presupposes a confidence or hope that they can stay alive long enough for a rescue boat to arrive. The company choosing this strategy must have a sober knowledge of their livable resources and an idea of how long they will remain in peril and on rations.

Sail to Shore
Pick a direction. The risk here is that they will start sailing in the wrong direction and end up farther from shore than before, but the right people will have proper navigation tools or know how to find their way by dead reckoning according to celestial markers.

Swim Like a Shark
Embrace the new environment. No economic cycles are going to dictate the success or failure of this company (or so they believe). If the waters are full of the timid, this company will take what it needs from those treading water to survive, and even thrive. This strategy will win both admirers and enemies, but few friends.

Which one represents your company? - Cam Beck

Comments

[Lewis Green]

Cam,

I like your strategies; however, my business philosophy doesn't really fit any of the three. For me, Staying the Coarse, regardless of the economic times, better describes my strategy.

I believe that business must always be in a marketing and sales mode, using smart business strategies combining creativity with best practices. To do otherwise, is a form of surrender.