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School of Hard Knocks
Sam Cece Chairman and Chief Executive Officer
January 25, 2010
Honing a Competitive Edge for 2010
When we first started seeing signs of the recession, my knee-jerk reaction was to dramatically slash costs, kill planned investments and ride it out. However, when the initial shock passed, I realized that now is the perfect time to take prudent risks and invest in the downturn to build a dynamic business that will trump any and all competitors when the economy turns around – and it will.
That's why it's extremely important to take this opportunity to hire great people, focus on product development and make smart acquisitions and other investments that will allow you to emerge from this economy stronger than when you entered it. Of course, keeping an eye on costs is important, but it shouldn't be in opposition to building your business. Assume your competitors aren't resting idle, and neither should you. If you can succeed in keeping your business healthy and profitable, you will have the flexibility to leap-frog ahead.
Now is not the time to freak out, but to get a clear vision on the changes you can make today that will have the biggest impact when spending ratchets up again in the next 12 - 18 months. You can't get this time back – use it wisely.
Posted by: Sam Cece at 9:04 AM
Categories: Business , Experience
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