Back in my early asset based lending days, a couple of colleagues and I were talking about the difficulties one of our portfolio companies was having, and what it might take to turn them around.
After fifteen minutes where all of us newbies were busy coming up with one clever idea after another, our well-seasoned VP finally commented:
“it’s not rocket science - you either need to increase revenues or cut your costs”.
And there you have it - we can get bogged down in strategy niches or six sigma efforts, phrases and terms that ultimately mean increasing revenues or cutting costs.
If the business is trouble, one of those two needs to happen quick, no matter what we call it. It really can be that simple.
I would love to hear your thoughts about this view of keeping it simple in business or your stories on this topic if you have them.
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