Optimal Work Daily - Career, Productivity and Entrepreneurship 1821: The 4 Crucial Mistakes Companies Make During Downturns by Christine Comaford of Smart Tribes Institute
Sep 25, 2025
Discover how leaders can avoid costly blunders during tough economic times. Learn the importance of shifting from fear to strategies based on clarity and innovation. Christine Comaford highlights the need for building trust among teams and emphasizes the dangers of hasty hiring. Find out why maintaining profit focus is crucial for long-term health and how constant course correction can turn challenges into opportunities for growth.
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Pace Decisions During Downturns
- In a downturn, impulsive CEO actions can harm long-term health despite seeming bold.
- Taking the long view and pacing decisions preserves cash and increases survival odds.
Try Contractors First
- Try new hires as independent contractors before making them permanent to avoid costly mistakes.
- Keep a lean core team and add contractors for peak periods to match workflow waves.
Stop Propping Up Losing Units
- Stop propping up unprofitable divisions; outsource or cut them to protect overall finances.
- Right-size pricing and shift sales incentives toward higher-margin products to restore profitability.
