We believe a down economy can be a war of attrition in which the best run business outlast the rest.
Winners will do four things well:

• Take a longer term view aimed at preserving market position. With a multi year time horizon a business may choose not to take fast but short sighted action that sacrifices market position for short term profits and so be positioned to emerge on top when the market recovers.
• Review their product offer to be sure they understand shifting customer priorities in a downturn and are positioned better than competitors
• Manage resources to balance responsiveness against cost. This includes human resources, inventories and raw materials. Here again, the long view is important as some skills, when lost, may be very hard to replace

• Maintain an effective market presence so that customers think of them as the first solution and best solution

An outside view can be money well spent in difficult times. Objectivity is critical to making good strategic decisions and the business gets the benefit of specialized resources and an external perspective without the cost of permanent payroll additions.