In my travels I see that many businesses seem to be thriving. Others of course are struggling or failing. Why some but not all? After much thought I propose that it is reflected in basic business 101.
“The world changes every day, If you do not change every day you fall behind”
Ah yes, I hear you say. The companies faring the worst are those who for one excuse after another just continued business as usual. Ignoring this rule.
Compounding this error was the failure to recognize “The customer is our only reason to be in business”
If you consider these premises I feel you will recognize the behavior of the companies worst hit by the crisis and those gaining strength.
Recall the Chinese word “Wei Ji” it’sthe same word for crisis and opportunity
Economic Downturn
Previous post: Morocco
Next post: China and France July 09
{ 1 comment… read it below or add one }
This is a great time to find a niche and be successful. There is always opportunity when others are asleep at the wheel – not paying attention to their customer. Many business owners are worried about the money – understandably, but if they worry about their customer first, the money will follow.