B2B manufacturing CEOs have a good reason for “sitting on their cash” and not investing in new hires. You’re oppressively taxed and over-governed, especially when you are in an Illinois business state-of-mind.
Your management team awaits your decisions on many fronts. Let them wait. When you are paralyzed by what business-killing legislation will come next, this is no time to be making business decisions of consequence. Besides, in a public enterprise nowadays, indecision has the appearance of prudence; and in a private enterprise, indecision seems a virtue.
The importance of cost cutting and cost prevention seems obvious. Then again, there’s the Price Waterhouse study that determined the value you can add to a business through cost cutting is mathematically limited to zero. If the decision is to NOT invest in business-building strategies, then there is no business-building decision of consequence.
Which is why a few highly strategic B2B manufacturing leaders will not just sit on their cash for the next year, and why they will come out of this recession victorious. They will invest in growth by building internal value definition and external value recognition. Guided by these two reference points for strategic decision-making, they will lead their companies forward.
By definition, innovation and marketing are inherently risky.
Moreso, indecision powered by fear.
jb
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