Tuesday, 21 February 2012
Dragon slaying 101
Every day in business there are three dragons to slay. The economy is one particularly evil villain. When the economy is slow (or more importantly is perceived to be slow) purse-strings tighten and spending in general slows. Usually that means consumers will either spend less. When they’re not working 12 hours a day to take advantage of a hot economy, they have the time and feel the need to shop around and grind you for the best deal possible.
When the economy is running hot, it’s a battle to take advantage of increased consumer spending without letting your inventory or operating costs get out of control.
The economy is not our only enemy however. There are two more business leviathans lurking in the marketplace. More on this tomorrow…