By applying this know-how you should be able to help your business bounce back with much less stress. And then, thrive in a changed environment! When your business has internal problems, it is a little easier to create a revival plan. It is a lot more difficult when the entire economy is in distress. Quite often businesses experience disruptions from one of the dismal D’s (Disability, Divorce, Death, or Business Disruption.)
All but the latter are associated with problems of the owner. Business troubles can come from internal actions or lack of action. It is more likely for a business’s deep distress to arrive as part of a general economic downturn. The fact that other businesses are struggling makes it harder to regain lost ground and to return to profitability. The problem addressed here is predicated on finding the right set of responses and actions to survive and thrive in a broad crisis.
That is not to say that the principles and processes cannot be successfully applied to a less demanding situation. When the problems are more internal, there are some advantages you will not have when the entire economy declines. In theory, developing a recovery plan is easier if the marketplace still has significant strength.