How should you act when an unfavorable economic environment threatens to capsize your business?
Truth be told, there is no one-size-fits-all approach when companies are faced with circumstances that force them to tighten their belts. But while recent quarters have been marked by downbeat sentiments throughout the business world, that hasn’t stopped some companies from achieving positive results.
When faced with challenging times, difficult decisions must be made. Cost-cutting measures, new leadership, lower headcount, and a focus on business transformation has helped some companies drive better EBITDA despite having to deal with the same slower sales cycles as the rest of the market. But the one common factor shared between these success stories is this: none of them had a “wait and see” approach.
Companies that fail to act on business factors they can still control will get nowhere. Even when facing an adverse business environment, there are many areas where Go-to-Market (GTM) leaders can effect changes to drive positive results—from organizational alignment to customer success strategy and market expansion.
Knowing what’s the right next move requires companies to assess their present circumstances and figure out which investments and growth initiatives to focus on to obtain the best returns. I recently put together a concise list on the ‘10 Best Practices for Balancing Growth and Investments’ on Forbes. Read the full article now.
