“Crisis is a time of opportunity”

Have you heard this? Sounds like a nice motto. But what are these mystical “opportunities”? How can one find them? In a crisis, economic…

Have you heard this? Sounds like a nice motto. But what are these mystical “opportunities”? How can one find them? In a crisis, economic systems shrink, and people and organisations spend less. How can one turn it into a chance to succeed?

A crisis means a shift in human needs. People still have the same 16 basic needs, but in a tough time, they prioritise them differently. But these desires don’t disappear, and people search for a way to satisfy them. Some companies can provide them with respective solutions, and they are the ones that can thrive even during recessions.

Every company must pay attention to their customers’ needs, but an economic downturn makes this task crucial. Firms that research their clients’ needs, hypothesise, and test hypotheses fast enough have a chance to prosper even in hard times.