As always, what worked very well last year doesn’t mean it will work this year. A recession necessitates the accelerated pace of change and this is not always a bad thing. The more innovative, agile and brave companies can see the changes, decide quickly and act accordingly.
What do your customers want today and how will your industry look in two years time? It may be very difficult to make money in this climate, but how do you win the relationships and smaller engagements that will secure your business when the industry settles into its new rhythm?
More than normal, effective use of your time is called for. Stop doing the same old things and think. Take a step back, think forward and understand why you had success in the past, do these past key reasons for success still apply to the current climate and how will they fit into the future? What needs to change and what companies can help you reach these new opportunities?
This is a great time to plant the seeds and secure corporate partners, to enable them to build customer relationships with your technologies and capabilities. It may mean small revenues today, but enables you to build a strong pipeline for the future. There are many hidden opportunities in todays chaos, companies are more open to discuss partnerships. Corporate Partnering is a lower cost and lower risk method of expanding and getting into new markets.
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