Today, the real worth of a business is not money, but customers.
Smart companies will use a recession to outmaneuver their competition, get new customers, gain market share, acquire the best talent, and even buy other companies at steep discounts, so keep an open mind to positive outcomes. Take your business’s distress seriously, but also take time to get out of your head. It is easy to become hyper-focused during a turnaround, causing people to lose sleep, project their own stress onto their staff, lose perspective, and miss new opportunities.