I was talking to a friend of mine recently when I first heard the expression “A hungry dog eats rotten meat.” I forget what we were talking about and the conversation moved on. Later, I found myself relaying some of the more interesting points that came out of that conservation and repeating the expression. Jokingly my wife said, “It’s like one of those sayings that stick with you like a lame chorus of a bad song.”
On the surface this could apply to a weak order book, product portfolio or cost supply chain. These are elements within the control of many business leaders.
What is less tangible is business confidence. This is not the same as ‘confidence in your business’ but everything to do with a business’ desire to buy. In this economy it’s not enough to have a strong proposition so what is the missing ingredient? In the dotcom era, those that survived, understood the importance of business confidence and did not take this for granted.
Creating confidence in your brand for your clients reduces the opportunity for rejection. Human nature will ensure that businesses will seek non-core opportunities as the need for cash increases, hence the title of this article. Many businesses fail to look at the macro economics that impact upon success. By not responding to external market forces businesses can fail to respond.
Business leaders have to equip themselves with experience to analyse and adjust.
I told my grandmother how you hepled. She said, bake them a cake!