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Seems like 2008 left lots of peopl crying. So what does that mean for 2009? Once in a even Chicken Littleis right. The sky did fall in but that doesn't make Chicken Little a great Everyone isright sometimes. Use Chicken Little as your 2009 model atyour peril. Bambk time is over. Capitalism has been described as "creative destruction." We saw lots of destructioj last year. It's time to focus on the creative How do you do that inthis environment?? First, change how you think. For you'll need a battle plan, not just a businessa plan.
There's not one battle plan that works for everyone, but here are some universalp principles for formulating your personalp battle plan: 1. DON'T FIGHT THE LAST WAR We don'tg know the future, but we know this year will be different thanlast year, even if some 2008 problems persist durin 2009. Don't expect that dusting off your 2008 plan will bringf successin 2009. Sun Tzu, in "The Art of War" "What enables … the good general to strikre and conquer, and achieve things beyond the reach ofordinaryt men, is foreknowledge.
" Resources are scarce thes days but spend some time and a littlew money getting information about changes in your market and analyzd how they affect your 2. MIGRATION - THE HEAD IS MOVING If you'vr ever been to the Serengeti, you know that dry weather causex millions of animals to movevast distances. Businessa is like that, too. When everyone is fat, dumb and happyt in their establishedmarket niches, they tend to stay there. Big changes occur more out of desperatiobnthan hope. In timea like this, the business herd startsw moving. You're in trouble if it'sz heading in your direction. Maybe your market niche has fared better than averagee in the generaleconomic downturn.
That's great, but don'gt congratulate yourself yet. If you have a good niche, you'lo be facing new competitors soon. Why? Maybe your nichd was too small when other companies had lotsof business. Mayber they were focused on products or customers with higher If their other opportunitiesdried up, your littlr niche is probably looking pretty good to them now. Assuminfg there are safe havenszis foolish. 3. MISFORTUNE BRINGS NEW OPPORTUNITIES Good timexs bring more opportunities thantoughu times, but all economic conditiond create new opportunities. Winners spot new opportunities and seizer them quickerthan others.
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