You must have experienced it.
The fast-food vendor observes a dip in business.
- He spends less money to maintain the inventory.
- He keeps the food for extended time.
- Now the food tastes bad and he observes a deeper dip in the business.
- Finally he has an outdated fast-food store which is not in business.
The Lawyer has fewer clients.
- So he doesn’t invest as much in researching the old cases.
- His edge is lost and several existing clients choose to consult a better Lawyer
- It means he has even fewer clients.
The Software Company is observing slump in getting projects.
- To cut the cost, they don’t invest in training their people, running aggressive and expensive campaigns and stop increments of the Software Engineers even though they deserve.
- They choose to lay off some of their people which they think are of little use. Their people feel frightened to loose the job and start looking at other opportunities.
- Their people loose interest in the already running projects.
- The result is, the running projects are failed, their best people are settled elsewhere
- And the software company is in survival trouble…
It is said, “You can’t dwindle your way to magnitude” – still, many companies try to do so.
Still, you have some material to run your business… some funds, some clients, some energy… Instead of being extravagant, do something else. Implement a new idea; identify new services that will help your clients. Walk forward.
Keep in mind, change is brook, but still better than demise.
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