Tides

Is it just a tidal change that will reverse itself naturally or a drought on the way?

Yeah, I get that we're in a recession. But your business will have it's own tides in addition to the tides of the greater marketplace. How do you tell your own from the ocean's tides? To some extent you can't. That is, if you haven't been keeping really clear records of your sales income from previous periods.

Most likely you may know exactly what you're sold in the past, but to whom and why are two more questions you may be less clear on. When you wrote your business plan you were asked to project income in different market sectors and income in different price points. Then you projected that further down the line for 3 or more years. Have you gone back and looks at those budget vs actual numbers?

When there's a crisis afoot in business, folks can be very quick to make changes. After all, agility and flexibility is what it's all about. But, if you don't go back and take a really close look at what's going on, putting your assumptions aside, you may be moving in the wrong direction.

Moving your whole fleet of products to take advantage of a little change in wind direction is a very expensive ordeal. It maybe a passing trend and perhaps holding right and developing the good thing you have to make it better might make more sense. Just like the captain of a ship, one needs to keep on eye on the horizon and the icebergs to your side. It's not an either/or proposition. Both must be done, simultaneously.

How well do Captains sleep? Maybe not so well, but such is the life of someone navigating the ever changing tides of business

Comments

Popular posts from this blog

On the Way Out

Now Trending

And What Did Your Accountant Say?