Cutting your workforce, alone, is not a pathway to strength over the coming years. Just look at the Great Recession (2007-2009) and the companies that were successful during those headwinds:
🚀 Netflix, Mailchimp, Google, Apple, Microsoft - grew via investments and bold new product launches
🌍 Lego, Priceline - grew via expansion into new markets
💰 Citigroup, Kelloggs - grew via investments in advertising & branding - Kelloggs actually became more productive by reducing working hours by 25% while increasing wages by 12.5%
📞 Delta - amidst bankruptcy woes, they improved their business through a renewed focus on customer service
And don't forget about all the amazing start-ups that formed during the Great Recession: Square, Pinterest, Airbnb, Venmo, Instagram, Cloudflare, Asana, WhatsApp, Goop...
Despite headwinds, it IS possible to start groundbreaking new businesses during tough times. To do that, though, you have to invest in talent.
🚀 Netflix, Mailchimp, Google, Apple, Microsoft - grew via investments and bold new product launches
🌍 Lego, Priceline - grew via expansion into new markets
💰 Citigroup, Kelloggs - grew via investments in advertising & branding - Kelloggs actually became more productive by reducing working hours by 25% while increasing wages by 12.5%
📞 Delta - amidst bankruptcy woes, they improved their business through a renewed focus on customer service
And don't forget about all the amazing start-ups that formed during the Great Recession: Square, Pinterest, Airbnb, Venmo, Instagram, Cloudflare, Asana, WhatsApp, Goop...
Despite headwinds, it IS possible to start groundbreaking new businesses during tough times. To do that, though, you have to invest in talent.
