Economic Crisis
Don't worry about the rain...
15 July, 2011 13:32
Change. We all like to think that we can handle (even thrive on) change, but the financial market turmoil over the last few years has almost everyone feeling disoriented and dizzy.
Major investment banks, insurance companies, auto manufacturers and more boarding up the windows and shutting off the lights. Throw in a Greek bankruptcy and a couple of trillion dollar deficits-- it may be enough to make you want to just pull the covers over your head and go back to bed. (By the way, check out NPR's Planet Money podcast for a reasonably succint, yet in-depth look at relevant financial news on a regular basis.)
But you can bet that the smart CEOs are not sleeping in late. They know that now is the time to invest in increasing efficiency and expanding opportunism. Those who are going to weather the storm are going to end up dominating their markets-- and the way to start down that path is to find ways to grab a bigger piece of the shrinking pie.
So my need for a healthy top line and bottom line hasn't changed. What has changed is that I am even less willing than ever to listen to your sales pitch about your products' features (or even benefits) without a clear picture up front as to how it is going to address my very specific and increasingly daunting financial objectives. While the necessity of finding high ROI initiatives against which to deploy scarce resources is every bit as critical as ever (if not more so), my psychological and financial "hurdle rate" is now sky high.
But make no mistake-- if you can really make me a hero in front of my stakeholders, I'm more than willing to listen. Just give me the bottom line first, and work backwards from there-- show me (credibly) how you came up with those numbers and collect your ticket for the front of the line.
Major investment banks, insurance companies, auto manufacturers and more boarding up the windows and shutting off the lights. Throw in a Greek bankruptcy and a couple of trillion dollar deficits-- it may be enough to make you want to just pull the covers over your head and go back to bed. (By the way, check out NPR's Planet Money podcast for a reasonably succint, yet in-depth look at relevant financial news on a regular basis.)
But you can bet that the smart CEOs are not sleeping in late. They know that now is the time to invest in increasing efficiency and expanding opportunism. Those who are going to weather the storm are going to end up dominating their markets-- and the way to start down that path is to find ways to grab a bigger piece of the shrinking pie.
So my need for a healthy top line and bottom line hasn't changed. What has changed is that I am even less willing than ever to listen to your sales pitch about your products' features (or even benefits) without a clear picture up front as to how it is going to address my very specific and increasingly daunting financial objectives. While the necessity of finding high ROI initiatives against which to deploy scarce resources is every bit as critical as ever (if not more so), my psychological and financial "hurdle rate" is now sky high.
But make no mistake-- if you can really make me a hero in front of my stakeholders, I'm more than willing to listen. Just give me the bottom line first, and work backwards from there-- show me (credibly) how you came up with those numbers and collect your ticket for the front of the line.
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