Most people look at hard times as when the focus is not protecting your existing business and making sure that it does not shrink. That’s a big mistake. It means you are focusing only on the enemies at the gates. A business can never be inward looking. It is not a self supporting entity. A company exists only in relation to its market and unless it focuses on that market, it will soon be separated from it. Then it becomes like a fish out of water and soon dies.
The smart business owner knows that most people do what is outlined above. That provides him opportunities to go into the market and while the competition is so busy looking inwards, occupy some of their territory.
It sounds great in theory, but when times are hard, how do you create the resources to build your business when you are already suffering as much as everyone else? The answer is that you don’t. Money and other resources are not easy to come by. What you need to do is redeploy what you have with you. Read more