"Fight the Bull with his horns or else bull would be winner". I just want to share my views about coping with the business crisis. This is just an analysis from various readings and discussions. It may not be full proof method but atleast we can follow this. Let us presume that we are passing through a business crisis due to low demand, bad recovery, diminishing margins, non availability of funds or increasing costs, competition etc. etc. . In my view to fight such business crisis one needs to work on all fronts. It is just like a warrior coming out of the palace and going to the war field with all the ammunitions available. As if he is riding on a chariot with four horses. These horses are basically four basic suggestions which are interrelated and can not be followed individually but if followed properly, it can help us in not only facing the crisis but also in getting out of it.
I. Cost Cutting: Cut the cost on all corners to the maximum possible. This is a very important factor. We need to analyse where the cost is extra and hence reduce it to the maximum possible without affecting the business. This will surely support us in facing the crisis. Please keep in mind that essential business and family cost should not be curtailed. Infact I have noticed that in such cases we just put on hold every thing. Rather we should increase the activites particularly related to travelling, relationship building and interaction with customers, suppliers, competitors, bankers, stake holders etc. Such cost should be increased to face this crisis.
II. Business Analysis: Sometimes the business crisis may be due to sensitive nature of the industry or business segment we are into, and hence we should regularly analyse. The nature of industry, our positioning in the business, the location, the level of scale all are needed to be analysed periodically. An honest self analysis is must whether crisis is there or not. During the course of time we attain some expertise in a particular area and also we develop rigidity . This acts as a barrier to look into other segments and in the process we fail to come out of the crisis. I understand it is difficult to look into other segments after a certain age, but there is no need to have ego in this and unlearning can be a good solution. Nobody is perfect and we are nobody. If there is good opportunity in other segments then why not look into that. However, before doing this analyse about our self, our interest and expertise and the reasons of this crisis. It should be an honest analysis otherwise nothing would solve. In my view, we all know the real reasons but rarely tell in public.
III. Family : The family is the back of any businessman and the survival is fully dependent on the happiess of the family. the family should not be affected by the crisis and we need to take full care of the family. I would suggest we dont pressurise the family to cut the cost beyond a point. Family is a place where we get chance to think and visualise , it should be protected . It keeps us on ground too. Please ensure the tension is minimum to the family.
IV. Change in Attitude: This is most important horse. The crisis may be no doubt due to the reasons beyond our control but the impact can be more due to change in attitude during the course of time. When we are successful, the attitude changes without notice, this need to be corrected. We may have left many relations just because of our ego, ignorance or negative attitude. Try to find out them and get them back in your life and they would again solve your situation. Generally it happens that certain people help us in the intiail stages of our career but we forget them while riding on the success ladder. Figure out such people and reconnect them. They would always think good for you and help you. I know it is dificult to go back to them, but still it is needed. Accept the weaknesses , mistakes , it would make our stature more higher. Also keep your faith and confidence level to the highest level. There is always tomorrow and when we are facing night, sun has already risen somewhere on the earth. So dont worry about that. If day could not remain forever, night would also not remain.
Friends these were certain personal views and may not be universally right but I thought of sharing with you and also wish to know your comments.
cp
2 comments:
Hello, i always wait for ur new posts. They r very interesting n based on recent situations. They truly motivate people n give them strenght to fight against these situations. But u have not posted any posts since last few days. Hope all is well with u n family. This topic is very interesting n i know every body is passing through this stage in this time of recession. N i agree with wht u have mentioned. I was going through some sayings n poems when i came across some words which i would like to share with all, i felt it is quite motivating n would help all to gain back the strenght n fight with the crisis. Our lives are made up of a million moments,
Spent in a million different ways.
Some are spent searching for
Love, peace, and harmony.
Others are spent surviving Day by Day.
But there is no greater moment
Than when we find that life,
With all its joys and sorrows,
Is meant to be lived one day at a time..
Whether we live in a forty-room mansion,
Surrounded by servants and wealth,
Or find it a struggle to manage
The rent month to month,
We have it within our power to be fully
Satisfied and live a life with true meaning.
One day at a time - we have that ability,
Through cherishing each moment
And rejoicing in each dream.
We can experience each new day anew,
And with this fresh start we have
What it takes to make all our dreams come true.
Its really a great thought and ture massage,
regards
kamlesh
Post a Comment