When Boom Times Wind Down, Smart Firms Turn Quickly to Efficiency
At the end of every economic growth cycle, midsized companies tend to invest heavily in sales and marketing to steal market share. They realize that a no-longer growing market won’t raise all boats, including their own. Yet increasing sales and marketing may actually not be the best way to grow in these times. Making big efficiency gains may be far better.
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Robert Sher is founding principal of CEO to CEO, a consulting firm of former chief executives that improves the leadership infrastructure of midsized companies seeking to accelerate their performance. He was chief executive of Bentley Publishing Group from 1984 to 2006 and steered the firm to become a leading player in its industry (decorative art publishing).