We’re at the beginning of an economic downturn. Most direct to Consumer companies that I work with are down at least 20% in the last month.
Do you have multiple scenarios worked out?
Worst, Best, Likely.
The three scenarios are important to get your head around.
And in a downturn, it is critical to double down on the problem you solve, for who. What is the value?
In a downturn what does that mean for your customers?
As a result, what is it likely to mean for your business?
No one can accurately predict what will happen, but you can forecast different scenarios, update them as new information emerges, and respond quickly to what you learn.
It is in the planning – with a robust pre-mortem – that much of the pain can be averted.
Do you have multiple scenarios worked out?
Worst, Best, Likely.
The three scenarios are important to get your head around.
And in a downturn, it is critical to double down on the problem you solve, for who. What is the value?
In a downturn what does that mean for your customers?
As a result, what is it likely to mean for your business?
No one can accurately predict what will happen, but you can forecast different scenarios, update them as new information emerges, and respond quickly to what you learn.
It is in the planning – with a robust pre-mortem – that much of the pain can be averted.