Victim or Creator: Should you Shrink or Expand?

When all you hear is how businesses are losing market share, people are losing their jobs and unemployment is at an all time high it can scare any business owner into thinking now is the time to shrink instead of expand.

Auto makers are experiencing a crisis right now. Toyota has reported a 32 percent decline,  Nissan a 30 percent decline, and Honda a 28 percent decline.

Now is a scary to be in the car-making business right now.

Now is the time to shrink.

Or is it?

Hyundai, a car maker in South Korea that recently gained 14% market share.  Here’s what they did: They agreed to buy back cars from anyone who had purchased a car then lost their job.  It’s called a “buy back” program. Click here to see the article.

What does this example of innovation have to teach us about businessYinYang?
1. In the end it’s about trust and relationships
2. Where ever there is crisis there is also opportunity
3. The one who stays calm and is willing to step up wins

The Chinese symbol for crisis  is the same symbol for opportunity. If you can replace your drama with some creativity you  may be able to leverage your business in ways you never dreamed possible. Perhaps now is the time to become a creator and expand!

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One Response to Victim or Creator: Should you Shrink or Expand?

  1. Michael says:

    I think for a lot of business it is the same problem. They always did it that way. For example, most of consumer business, clothing stores, mall shops, etc had these huge December sales figures incorporated into their business models. When those sales did not materialize their whole model fell flat on its face.

    Hyundai on the other hand has been thought of as bottom feeders of the car industry. Being a bottom feeder has its advantages if used properly. Hyundai has one direction to go, there is no downturn when you are last.

    That should be quite liberating for any business. With Hyundai having no where to go but up, their business model should be quite unique I would think.

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