Overcome moments of crisis: the decisions to be taken.

June 10, 2010 | Personal training

Today, we talk about an issue that from the media and even the bar with friends, has long been the center of much debate.

When our company and our business sector have long been mired in crisis, what should we do?

Wait until all is finished, trying to limit losses … or:

assess other opportunities and stop wasting time and resources in an area now finished?

Winning Strategies: Overcoming the difficulties taking hard or let it go and look elsewhere?

They came us a couple of emails about these questions and frankly, not easy to answer directly and absolutely.

It should be evaluated case by case the individual situations.

About this issue, we have already discussed in the past and we came back hours on this subject, because for many professionals and for many small businesses this reflection, is becoming an urgent issue to be defined.

What are the sectors in crisis? What can I open?

These are typical questions that come us in different emails but also are the same questions that you feel around.

The general crisis, is affecting directly and indirectly a bit all the fields.

In many areas, it is just an opportunity to do that changes and the innovations that had been long delayed.

For these realities, we must work with a strategy of innovation, cost control and better management of resources to revitalize its activities.

In other certain areas now finished or where competition has reached a very high level and you can not act on innovation or cost cutting: we must avoid to be obstinate and burning resources and to do further into debt to the company and to themselves.

In these cases, if the opportunity to exploit any niche or segment still partially open is not feasible, it should think to a divestiture plan and evaluate new roads and paths.

Overcoming the crisis: to resist or let go this business and watch elsewhere?

The parameters to be followed in these cases are different and have different weight depending on the situation:

Identify the real potential of the sector in the coming months and years.

Analyze whether you can develop a niche strategy, ie search of a space that is still interesting.

Plan a reorganization of the company, especially, do a cost analysis and internal productivity.

Competition: try to understand its future evolution and if possible strategies to combat it.

In these cases, if the opportunity to exploit any niche or segment still partially open is not feasible, it should think to a divestiture plan and evaluate new roads and paths.

Overcoming the crisis: to resist or let go this business and watch elsewhere?

The parameters to be followed in these cases are different and have different weight depending on the situation:

Identify the real potential of the sector in the coming months and years.

Analyze whether you can develop a niche strategy, ie search of a space that is still interesting.

Plan a reorganization of the company, especially, do a cost analysis and internal productivity.

Competition: try to understand its future evolution and if possible strategies to combat it.

Including: making a real picture of our situation to understand where we are, what resources and commitments we have and what are the strengths on which we have.

It ‘s really important to address these moments, making this analysis in a detached manner, without getting involved with feelings of guilt (for alleged errors) or emotion or even worse, false hopes or illusions.

Good work.

image source: liberainformazione.org

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