When your market is up everything is rosy! But what about when it’s down, what do you do? Fact is, the market decides a lot of things for us, but not everything.
Companies do have ways to create their own opportunities despite what the marketplace is like. What’s needed is a different way of looking at things and bringing a new service to key customers who have mutual interests in growing their business. A new web-based service that shows off a new product innovation, a seminar offered to get people thinking and talking. This almost always starts when someone decides to make a difference in their company.
Another approach is to wait out the market to keep their head above the water. Some companies may opt for this strategy because it’s a more familiar pattern they have observed in other tough times.
Of these two strategies I would almost always recommend the first proactive approach. Winning companies almost always persevere until they find a solution that works for them. That’s what makes them the winners.