This question is a “glass half empty” question. The
real question is, “In what ways can I grow my business in
the new economic reality?”
If it isn’t obvious, the go-go economy of the past few
years is over.
An article in Fortune magazine a few weeks ago talked
about the mistakes that companies are making by playing
the “waiting game” and operating with the mentality of,
“If we can just hold on a little longer, things will turn
I’m sure all the Buggy Whip Manufacturers in the early 20th
century said the same thing as they saw the auto industry
HR CONTRARIAN POINTER: The biggest mistake that companies
can make at this point is to continue to forecast their
businesses based on the models and assumptions of the past
few years. That’s equivalent to the city of New Orleans
using modeling techniques that include all the growth
assumptions for the city prior to Hurricane Katrina!
The world has fundamentally changed. Here are a few
questions to help you through this change:
1. What are you doing to sharpen your focus on your core
competencies and grow your business differently?
2. What are you doing to identify new opportunities that
are adjacent to your core business?
3. What are the things that you are doing to control the
things that you can control?
It’s time to shift your mental model from “fighting for
survival” to “seeking opportunities for growth.”