Not so long ago, I was working for a COO of a fortune 100 company. I learnt some of the most important lessons about business from him. He frequently used to tell executives.
What do you do in a downturn?
Answer: Prepare for the upturn. Invest deeply in key projects and products.
What do you do in an upturn?
Answer: Prepare for the downturn. Serve customers and keep the cost structure right for the downturn.
This post is dedicated to him.
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