What Happens If...
Rick Carlson, Director
, TechServe Alliance Sales Management Program
“What-if” situations can be maddening in the sense that they can absorb precious time and brain power preparing for scenario’s that may never come to pass. However, the time spent now, may produce a decided competitive advantage should the un-likely suddenly become likely.
If we listen to the ever increasing “noise” about a forthcoming, albeit mild, recession; we might serve ourselves (and our companies) well to have a plan ready to impart. Economists point to four major risks that could cause such an event.
For those who were able to ride out the most recent recession of 2007, you will recall the financial pain that came along with it. New orders dried up; contingent workers were prematurely exited from their jobs; and companies frantically slashed budgets. The impact to our world was crushing. Not only did projected revenues take a precipitous fall but clients requested that bill rates be further reduced which had a domino effect throughout our organizations. Is it likely to happen again? Soon? Maybe not. But eventually? Of course.
So what is your plan? How will you combat the inevitable? There are clear strategies to mitigate the impact, but you will need to move swiftly and with laser-like precision. Like a hurricane, preparation is the key to surviving.