Only companies that understand their environment will be able to anticipate future challenges and needs and adapt to constant change.
According to an analysis by Yahoo! Finance, the largest technology firms worldwide have added losses of up to 4,000 million dollars, including Microsoft, Apple, Amazon… This shows us that the size of the company does not matter: the economic recession spares no one.
That is why, in this environment of constant change and uncertainty, our ability to make decisions and solve problems must be even more agile than ever. This is a race that we cannot lose, otherwise we will suffer the consequences.
The reduction in demand, which directly affects the income of a company; the increase in input, rental and employment costs, which impact profit margins; The difficulties in obtaining financing, the scarcity of loans and investments, which diminishes the capacity to operate, and many other challenges that we will face, put our qualities to lead and manage companies to the test.
What can we do so that these changes do not affect us, or to lessen their impact?
-Diversify products and services: As the old saying goes, don’t put all your eggs in one basket. Diversifying reduces dependence on a particular market or sector.
-Establish an aggressive marketing strategy: a good investment, which many entrepreneurs are not considering, is to establish a marketing strategy, focused on attracting new customers and retaining existing ones.
-Increase efficiency: by automating processes, improving existing processes and implementing more advanced technologies.