For the past one year or so, we have been welcomed by news from all over the world about companies going bankrupt and employees getting laid off. Although this is a serious problem for an average human being, this crisis also offers a lot of opportunity for each of us. What I think about the current situation is that this is one of the best time for all the innovations that were a necessity.
I have seen many companies shutting down some of their operations, reducing the number of activities in multiple areas and so on. But is it the right thing to do? I may not be the right person to comment on this, but what I feel is that these companies need to explore some ways to sustain themselves and think of some unconventional methods. At the beginning, it may sound wired, but it can save a lot of money. Automation of some tasks, eliminating what is not needed are some of the things many are practicing. But while doing so, some may lose best resources they had.
For small organizations, this is one big opportunity to make their presence known to everyone. Instead of thinking how to market their product more aggressively, they should focus on how to market their products as a solution to the problem which everyone is facing. If I am not providing a solution – it should be cost effective and easy to adapt – that does not try to solve a problem, then that product is not worth marketing. I have seen many organizations doing things which are not necessary, but cool to have. What happens at the end of day is that you make your product ‘cooler’, and you lose the objective. The end users might use your product for some more time, but they will also get bored of such cool features at some point of time. They realize that they have spent money on some things which does not help to solve the problem they initially wanted to – but it is hiding the actual needs behind some cool features.
I have seen organizations doing this. They focus on things which are more noticed – but less important. They do not do important things at right time and that right time can cost you so much. I have read some articles about the current financial crisis and many authors are trying to predict how long it will last. Is it important that how long this crisis last? I do not think so. If you have a solution, that works even in this period then you need not worry about how long will it last. When companies will have money again, they will forget about the immediate past and start spending on useless things again – and the history is going to repeat again. May be history will repeat is some other form, but such crisis are bound to happen.
I can be different at this situation, by looking at this crisis from a different angle and I see a great opportunity ahead.
