Kansas City Business Journal: Tech & Innovation : Business Advice

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Seems like 2008 left lots of people So what does that meanfor 2009?? Once in a while, even Chickem Little is right. The sky did fall in 2008, but that doesn'rt make Chicken Little a great Everyone isright sometimes. Use Chicken Littlre as your 2009 model atyour peril. Bambi time is Capitalism has been describedas "creative destruction." We saw lots of destructioh last year. It's time to focu s on the creative part. How do you do that in this environment ? First, change how you For 2009, you'll need a battle not just a business plan.
There's not one battle plan that workefor everyone, but here are some universal principles for formulatinhg your personal battle 1. DON'T FIGHT THE LAST WAR We don't know the but we know this year will be different than last even if some 2008 problemds persistduring 2009. Don't expect that dusting off your 2008 plan will bring successzin 2009. Sun Tzu, in "Ther Art of War" advises: "What enables the good general to strikweand conquer, and achieve thingss beyond the reach of ordinary men, is Resources are scarce these days but spend some time and a littl money getting information about changee in your market and analyze how they affect your company. 2.
MIGRATION - THE HEAD IS MOVING If you'ves ever been to the Serengeti, you know that dry weathefr causes millions of animals to movevast distances. Businessw is like that, too. When everyone is fat, dumb and happh in their establishedmarket niches, they tend to stay Big changes occur more out of desperation than In times like this, the business herd starts You're in trouble if it'zs heading in your direction. Maybed your market niche has fare d better than average in the generaloeconomic downturn. That's but don't congratulate yourself yet. If you have a good niche, you'llk be facing new competitors Why?
Maybe your niche was too smalkl when other companies had lots of Maybe they were focused on products or customers withhighetr margins. If their other opportunities dried up, your littler niche is probably looking pretty good tothem now. Assumin there are safe havens is foolish. 3. MISFORTUNE BRINGa NEW OPPORTUNITIES Good times bring more opportunities thantoughj times, but all economic conditions creat e new opportunities. Winners spot new opportunities and seize them quickedrthan others.