Get Fiercely Competitive
You just have to be competitive!
I received a letter in the mail today from our friends at SV Partners. A thoroughly enjoyable read. They highlighted two possible reactions that professionals could have to the GFC. The premise of the article is you can sit back and complain about how all your clients are leaving you and in a few years time reminisce about how good times used to be when you had clients. Or, you can adapt to the new market paradigm.
On the one hand I very much take the view that yes you need to adapt to the new market, but for as long as I can remember there is always some overriding catastrophe that for some reason is much more significant than the last catastrophe. The situation is always so critical that if you don’t do something now the horse will bolt and life is about to change forever!
My view is that you and your business should always be prepared to weather all kinds of storms, and the best way to do this is to be constantly looking for better ways to do the things that you do. Constantly be asking the questions: Why do we do it this way? How can we do this better? How can we improve what we do? How can we reduce these costs? How can we use this technology? How do we take on those new accounts? Asking these kinds of questions is what being in business is all about.
In order to be fiercely competitive and in a position to weather the storm you need to be doing things better and more effectively than you did yesterday, GFC or no GFC. In business the best defense is offense.