How to rebound when your sector takes a hit: Part two

When you are in a time of crisis, or coming out of one, it is a good time to take stock and look at what you can do to insulate yourself from future market disruptions. There are four steps to this. In part one we looked at how to prepare ahead for hard times. In this article we look at the importance of understanding the environment around you.

This seems like one of the most obvious aspects of developing a strategy, but often when you have a blind spot, you don’t know it.

Even unforeseen disruptions such as the pandemic bring opportunities, not just challenges. As an exercise, ask yourself right now if you can identify how COVID-19 may have positively benefited your industry? Did it help you identify efficiencies? Did you make changes that will benefit your company going forward?

When you seek to…