This month’s Inc. Magazine column (Surviving the Recession) from Norm Brodsky is required reading for any organization struggling right now due to the economy. Brodsky is a veteran entrepreneur who offers some fundamental advice.
Some gems from the article:
- Know your math: How much do you need? It’s not enough to say, “We’re losing money.” You can’t respond until you figure out exactly what that means. It’s simple and yet most orgs can’t tell me exactly how much they need.
- “It’s a terrible idea to cut back your sales efforts in a recession.”
- “You can’t borrow your way out of debt.”
- At the end of the recession, the winners will be those who have taken advantage of their most important resources—imagination and creativity.”