Monday, February 15, 2010

Four steps to beat the Credit Crunch

Credit crunch is painful a time for many, many people. However, 100 for each disease, there is one which is jumping for joy ... OH, OK, so the statistics are a group of numbers in search of the fight and be 1 to 85 or 1 to 54 or 1 in 123 ... we do not quibble over trivial details and agree that, despite the ravages of the financial turmoil, had many that made good from it.

Who you Follow?

The big question is, of course, what did the winners do the rest of the package is not ... and what can be done now when the crisis hits and then? Sorry dudes, but there will be another financial crisis and another and another, so the sooner we know the latest, likely to the winning team next season.

What Are The Losers

The first thing to do is look at what the losers are - following the other losers. As soon as you start the stampede, all in the head goes to everybody who else.

What I winners

What the winners do? To do the opposite. They stop and look at the cause of the stampede and often not, the society of buffalo is just a breath of air was dust in the form of a predator. So stop, look and go anywhere - rest is gone, no more grass to feed on, here! Each time the Titanic sinks, most sink the ship. However, there are always some immediately pop up, look around and go build a better boat, a plane or something not to head down the first sight of water ice.

What a winner

That's the theory. Consider the company of what is done in Norway, for a practical lesson:

Initiated by Mr. Nordheim-Larsen, NLI began life as an engineering workshop for industry taga-1936 in the small town of Tonsberg. For many years it was humming happy and then depression by 1970, a forest industry worldwide affected. NLI, saw his competitors crashed, one by one. This is not a good view, and Mr. Nordheim-Larsen, might have panicked, shut up shop and opened the first Starbucks franchise in Norway ... otherwise the beleaguered forestry industry. He does not. He leaned back and saw not problems but opportunities.

* After each crisis is a financial recovery.
* Each fall of the engineering shop is not cheap to buy a business.
* The impact of each industry, there is always another to rise.

He looked around and saw that the oil industry is suddenly interested in Norway and suddenly became interested in the industry of oil. Mr. Nordheim-Larsen was a visionary not only silent, it was a brave warrior - acted. He bought opponent if after not having power, provided that NLI is the group synergies and equipment for the industry of oil. His vision and courage are rewarded.

Then, by early 2000, many of the traditional engineering workshops in Norway is the bite of another economic downturn. Although the market is low, Mr. Nordheim-Larsen, not only saw the potential, but also dared to act and the acquired companies with its own technology - technologies that enhance the NLI. Again, Mr. Nordheim-Larsen knows that the tough economic times will not last. His company began acquiring companies struggling in line with both market and NLI experience in oil and gas. The Int in the last 10 years continues to be both organically and through acquisitions.

NLI turnover for 2007 was 900 million NOK and 2009 NOK to 1.5.billion. And, no, not 2010 Blockbuster another year. In fact, it could be a bad year. However, they have done NLI offers credit within one year before most people knew him here, made their downsizing, cutting plants and materials orders, loan restructuring and is now ready to ride the following (crude) year with more finesse than most ... and have collection companies failure to improve the stability of the technology in the next economic upturn.

Mr. Roed-Tor Martin, Chief Operating Officer, INT Marketing, says that in addition to vision and courage to act, there are two reasons for its success:

1. First, focus in particular, is their ability and develop an overall focus. It is always fascinating to go to other markets or obtained promises, but unless they have synergies sa NLI basic skills, are rejected. Expect close to where their skills and continue to develop new ones.
2. Second, a high focus on developing its people. Because the company is a large percentage of highly skilled and educated, lifelong learning and development worldwide, from management down, is a priority.

What can we learn?

Therefore, if you are an international engineering industry of oil, a coffee or an individual, what can we learn from it? Four things:

1. Vision - instead of following the crowd, the herd, stop and look around. Things will not seem them and all things must pass ... even credit crunches.
2. Courage - back their hunches, take action. Have something to tell your grandchildren.
3. Stick to your knitting, children - what do you do best? Have better, more, more creatively, with more energy. But do not you, that is what is best to.
4. The people in your life people - none of us is an island and the only contact with people - especially successful people - more than we can all help each other.