10 ways to weather the storm

Geoff Colvin has authored a interesting article in the January 19, 2009 edition of Fortune magazine: “How to Manage Your Business in a Recession”  in which he points out 10 ways to weather the current economic storm-

Here they are:

  1. Reset priorities to face a new reality.
  2. Keep investing in the core.
  3. Communicate like crazy, balancing realism and optimism.
  4. Your customers face new problems, so give them new solutions.
  5. Don´t rush to cut prices.
  6. Focus on capital – how you´re getting it and where you´re using it.
  7. Reevaluate people – and steal some good ones.
  8. Reexamine complensation – what is it offering incentives for?
  9. Think twice about offshoring.
  10. Be smart about mergers and acquisitions.