Marketing Against The Grain How The Best Companies Pivot During A Bad Recession
Nov 17, 2022
Discover how downturns can spark entrepreneurial ventures and provide unique advantages amidst less competition. Explore strategies for balancing immediate defensive actions with long-term growth investments. Learn about the agility required to capitalize on opportunities in the digital landscape, like TikTok's rise. Find inspiration in resilience and community support, alongside tips for maintaining a positive mindset during tough times. Plus, enjoy some light-hearted commentary on navigating news and everyday challenges!
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Risk-Taking in Recessions
- Tough times create opportunities for radical change because the downside is limited.
- Recessions are ideal for risk-taking as failures blend in, while successes stand out.
Amazon Prime: A Risky Success
- Amazon initially struggled with growth due to customer aversion to shipping fees.
- Their iterative solutions failed, but the risky move of introducing Amazon Prime proved transformative.
Decision-Making Framework
- Use the two-by-two framework: Bet-the-company vs. not, and reversible vs. irreversible.
- Focus on the quadrant where decisions are both high-stakes and irreversible.