Money often runs for cover as soon as it feels threatened, and rather than just “getting tough”, a little more imagination and strategy is required in such challenging times.
Of course, many products and services are geared to the requirements of a booming (or at least expanding) market. Clearly, in a tighter market, they may need to be re-tailored accordingly, with a business thinking on its feet and putting into play a new strategic direction. Such a lateral move (for example, re-imagining a poorly performing product, rather than withdrawing it from the market) is so unexpected that it puts competitors on the back foot, allowing a business to consolidate resources, regather its former energy levels, then forge ahead once more.
Recognising local game-changers
This year’s 14th National Business Awards will once again recognise SA’s business game-changers, who have held their ground in tough times (and gained new turf) through excellent service, customer care, ethical behaviour and lateral thinking. On the same night, The Top Performing Entrepreneur of 2016 Award – Sponsored by Liberty Corporate, will be awarded to an individual with the kind of fortitude and flexibility that inspires all those trudging wearily off the field to pause, take a deep breath, and turn around to make a new play. Don’t miss your opportunity to be there and rub shoulders with the toughest – and smartest – people in the game. Click here for more information