The Gift

Yesterday is history. Tomorrow is a mystery. And today? Today is a gift. That’s why we call it the present.

Babatunde Olatunji

It is time to innovate

The economic crisis signals that more of the same will not be enough. The obvious response is to cut cost by reducing head count, cutting down on training, research and development and put the company on pause and hoping for the best.

Meanwhile companies seeks bailout from the government so that they can further extend their inefficiency and obsolete business model. Bail out is of course critical to safeguards jobs and the economy. However I believe the company being bailed out must not be allowed run business as usual and must be forced to renew and innovate themselves to prepare for the next growth cycle.

As for the rest, without a luxury being bailed out by the government, its is indeed time to rest from the routine and explore how to take advantage of the downturn. This includes:
1) hire cheaper talents/interns (part time/full time)
2) take time to learn and experiment
3) reflect and re-energize to prepare for growth
4) use the web 2.0 to innovate
5) collaborate with new partners
6) do barter trading of services
7) explore new markets
8) learn to use less resources