
If you think running a business is easy, then think again. We started the year off with record fuel prices, followed by a global slowdown and are simultaneously coping with a stand-off in local politics. What more could we ask for?
Well, one thing is for sure, once we survive (if we survive) this turbulence, I am sure I will definitely write a book about this experience. Often as managers, we face situations where things are totally out of our control and there is nothing we can do about them. The only hope is that these troubling times will pass - as every storm eventually does.
Having said that, I think we are in for the long haul this time. How do we cope with it? That is a really good question. I do not have a Midas-touch solution but this is what I am doing and I hope I am doing the right thing.
The first thing I do is make sure that my team is fully aware of the situation and I make sure that we share information as much as we can among ourselves so we can wait for the best opportunity to turn things around as best as we can.
The second thing I do is to sit down with the team and work out different solutions and work out the ones that might give us the best chance to come out as a winner through these tough times. The third thing I do is learn from others (in the same industry but in other countries) and learn from what they are doing to survive. Certainly, not all of them are better than us but there could some real insights to be gained from others.
Fourth, I try to learn from other industries and learn from what they are doing to adapt and maybe give us a new perspective. Last but not least, I always believe in luck. Many successful companies also rely on good luck and therefore my advice for you folks out there is, sometimes, praying does help. Well at least that is what I do when I need some additional good karma (it just makes me feel a lot better as well).