Business strategy is about making the right big decisions before making the right small decisions.
One of the big decisions is how much to borrow. There are business leaders who mistook the Economic Cycle (goes up and goes down) for an Economic Spiral (only ever goes up) and borrowed accordingly. Their self-destruction was always assured and only a question of timing.
And that’s the bad news about a recession - the culpable and the innocent get hurt alike – financially, socially, emotionally.
But the winds of change bring new opportunity for all. And the good news about a recession is that provided you work smart and hard you’ll emerge from it leaner and more profitable and with less competitors.
Recession are the commercial equivalent of natural selection.