Don’t Send Your Business Into a Death Spiral

In: Insights

One of the biggest challenges for businesses in this current market is to avoid the temptation to figuratively curl up in a ball under our desk and wish it was 2005. Sure the market is soft and customers are tentative but instead of taking a reactive position we need to be active. There are upsides to the recession- there is less noise in the market and an incredible assortment of digital tools for you to better engage your prospects in a one-on-one conversation. Seth Godin is spot-on in his blog post Death spiral!

As Tom Peters says, “You can’t shrink your way to greatness,” and yet that’s what so many dying businesses try to do. They hunker down and wait for things to get better, but they don’t. This isn’t a dip, it’s a cul de sac. It’s over. Right this minute, you still have some cash, some customers, some momentum… Instead of squandering it in a long, slow, death spiral, do something else. Buy a new platform. Move. Find new products for the customers that still trust you. Change is a bear, but it’s better than death.

Let’s make something of the time we have – cause times may not be optimal but this is the only time we have.