I am referring to the crisis that has been named and renamed
-sub-prime credit (crisis)
-CDO (whatever that means) blowout
-it is only an asset market crisis
-unwinding of yen carry trade (whatever that means)
-financial market seizure
-capitalism (death of)
-bailouts & nationalization (how wise Indians have been!)
-liquidity (just that..throw money at that)
-Wisdom of Indian regulatory authorities, Indian babus, and Indian politicians (Do you know that the governments preempt all credit needs just to waste a lot of money? How will pump priming be funded? Who will pump prime? China for sure. India? Russia? Brazil?)
The drama is still unfolding…if you are a CEO or a big stakeholder in a company you would have experienced occasional headaches. What should one do? If you are an investor?….well this piece not on passive investors.
1. Stop watching CNBC or such biz news channels. Read your business papers in the evening or ask someone to summarize news for you.
2. A DIY (Do it yourself): Get news from internet (say google news) stick to facts and forget opinions. Bigger the man, bigger the discount on the opinion.
3. If you are thinking of cost cutting (you should) just do more than cutting ad spends, expense accounts, motivational training programs, removing toilet papers (virtues of Indian-ness). Go beyond low hanging fruit, otherwise you might just keep hanging there.
4. If you have not done it before -get down to building leadership skills in yourself and your team. Get down to business process improvements. Both can be done on relatively low budget. Some people would walk out since they can not stomach such things. But you would not want ineffective leaders and bad processes to continue. Would you? (they are very costly)
5. Take a good strategic look at your business. Hopefully, CASH is real for you and your team. If not, do whatever it takes to make it visible, as real as actually counting money and paying up. You know the rest.
6. Get real -this is going to last for a long time. Long enough for you to re-invent yourself. Long enough to be doing something today and tomorrow about customer satisfaction and your market offerings.
7. There is no better time than today. You would save headache by doing above. You would be doing some really good work after a long long time. That would give you some secret satisfaction. Time to show that off will come.
Cheers. Be cheeky.