The 2020 Mid-Year Economic Update_long

Transform a Downturn into a Strategic Opportunity

During an economic slowdown, a siege mentality" is understandable but not always productive, says Steve Deist of Indian River Consulting Group. Though many industries are still seeing growth, some -including the housing industry -are struggling. This is a timely excerpt from a piece by Deist on how to turn a downturn into a strategic opportunity.
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No. 1 Focus on the Other Guys
Customers, employees, competitors and suppliers are facing many of the same challenges you are. Many are probably playing defense and are reluctant to make long-term commitments. They likely have reduced expectations of performance in profitability and sales growth.
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Commit to sustained and improved customer service. ...

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