Every time an economic meltdown hits the business world, good outsourcing companies tend to fold. But the great ones keep their composure and even thrive productively during difficult times. The last recession has shown us a lot of examples of successes and failures.
Many of us have learned our lesson. We know, for one, that great outsourcing companies find proactive ways to stay profitable and reach their growth goals. They seem unfazed by economic troubles, and we ask ourselves how they manage it. This article offers some answers.
Here are three reasons (principles or secrets) why great outsourcing companies prosper even during an economic recession:
Great outsourcing companies turn threats into opportunities
Keep in mind that economic situations, whatever they may be, are a mixture of good and bad. Japanese masters call it danger and opportunity. Whatever one does in extreme situations can either be his triumph or his ruin. When facing extreme situations, Stephen Covey wrote, stay proactive. Such principle encourages a CEO to be responsive, not reactive. With that, a great outsourcing company can transform numerous threats into opportunities.
In times of predicament, great outsourcing companies know what to reject and what to retain
When everything seems to go our way, we’re easily tempted to overspend and overdo a lot of things. Next time we know, these little sloppy behaviors eventually turn into habits. When predicaments come, these bad habits become our undoing.
Predicaments or no predicaments, great outsourcing companies always clean the house and de-clutter any excesses that drain on time, energy and money. Bruce Lee put it perfectly: “know what to reject and what to retain.”
Great outsourcing companies maintain their competitive stance in tough situations
When an economic downturn hits, most companies cower and go on the defensive. They cut down, they cut back and downsize just to survive. Great companies, on the other hand, do the opposite and seem to glee and glow and fight back.
They ramp up promotions, create new products according to the present needs and status of the economy, keeping their heads up and visible in the market. They seem to have found the ways to profit from ever changing dynamics in the market, and they are enormously rewarded for it.
We have plausible reasons to believe that Live2Care is one of those great outsourcing companies. We thrive during times of growth, we flourish when times are tough. Our business partners know they can completely rely on us.