No matter how successful you are, staying constantly vigilant, dynamic, and adaptive, ensures yesterday’s triumphs translates to tomorrows success

1. When the competitions are weak, it’s time to go on the offensive
Invest in success. We know times have been tough, but you have the advantage when your competitors are weak.

2. Have a deep understanding of your customers
You need to focus on your customers so you can take advantage of their changing attitudes and behaviors.

3. Market your business via advertising media
Because so many firms cut their advertising budgets, advertising costs tend to fall during recessions – meaning that the few companies that advertise aggressively get much more attention at a significantly reduced price.

4. Invest in the future to expand your business

5. Try to develop new strategic for your business
With customers trading down and businesses cutting back, now might be the right time to develop a low-cost business model.

6. Always be a leader for your team, not a boss
Leaders set clear expectations. They mobilize the extended leadership team. They keep it real. And they drive results. Motivating the organization when tough decisions have to be made will require a well-balanced approach.
Leaders set clear expectations. They mobilize the extended leadership team. They keep it real. And they drive results. Motivating the organization when tough decisions have to be made will require a well-balanced approach.

Source:
https://iveybusinessjournal.com/publication/the-new-normal-requires-a-new-mindset/
https://www.businessinsider.com/we-learn-more-from-success-than-failure-2014-6?IR=T


13 May 2020