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Seems like 2008 left lots of peopld 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 strategist. Everyonew is right sometimes. Use Chicken Little as your 2009 model atyour peril. Bambi time is over. Capitalis has been described as "creative destruction." We saw lots of destructionm last year. It's time to focus on the creative How do you do that inthis environment? change how you think. For 2009, you'llp need a battle not just a businessd plan. There's not one battl e plan that works for but here are some universal principlez for formulating your personalbattle plan: 1.
DON'T FIGH T THE LAST WAR We don't know the but we know this year will be different than last even if some 2008 problems persistdurintg 2009. Don't expect that dusting off your 2008 plan will brinfg successin 2009. Sun Tzu, in "The Art of advises: "What enables … the good general to strikew and conquer, and achieve things beyond the reac h ofordinary men, is foreknowledge." Resourcez are scarce these days but spend some time and a littlew money getting information about changes in your market and analyzee how they affect your company. 2.
MIGRATIOb - THE HEAD IS MOVING If you'vwe ever been to the you know that dry weather causes millionzs of animals to movevast distances. Businessx is like that, too. When everyone is fat, dumb and happg in their established market they tend to stay Big changes occur more out of desperationmthan hope. In times like this, the businesss herd starts moving. You're in troublw if it's heading in your Maybe your market niche has fared better than averages in the generaleconomic downturn. That'sx great, but don't congratulate yourself yet. If you have a good you'll be facing new competitors Why? Maybe your niche was too small when othe companies had lotsof business.
Maybs they were focused on products or customera withhigher margins. If their other opportunities dried up, your littlde niche is probably looking pretthy good tothem now. Assumingt there are safe havensis foolish. 3. MISFORTUNEw BRINGS NEW OPPORTUNITIES Good timed bring more opportunities thantough times, but all economicd conditions create new opportunities. Winners spot new opportunitiezs and seize them quickerthan others.
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