Recession Virgin

After confessing to being a Recession Virgin at My Long Lunch today, I highlighted why I was qualified to speak on the subject of ‘Innovation During Times of Recession’.

Quite simply, like almost everyone else in the room (my fellow Virgins), I have had to perform a 360 degree analysis of our business and implement creative and innovative measures to drive the business forward through these challenging times.

I shared my methodology with the group because a definite balance is needed between continuing the focus on traditional operating strategy and thinking creatively and innovatively.

I strongly believe that people should first think innovatively about how their businesses currently operate, not how to take them and their service offering(s) in new directions. It is vitally important to analyse what activities are still delivering value and do more of the same, before starting to identify innovative pathways. In essence, there is no room for panic tactics.

Once you have streamlined the business and shored up the spine of your operation and business strategy, you can start to be creative and innovative to support the strengthened operation, just like a team sports manager who builds a solid structure but when necessary substitutes in players who can bring width, depth strength or pace, depending on the challenges faced by opponents game by game.

Our innovations feed off what we have already built at Brainhunter to add further value to clients, and part of me is thankful of the economic situation because without it, we wouldn’t have thought of, researched and launched a range of complimentary and innovative solutions that give Brainhunter competitive edge.

If you innovate in a controlled manner, you can test new theory’s and approaches without risk, because doing something might yield a result and it might not, whereas doing nothing always generates nothing, in fact you could start to go backwards.

In addition if you don’t innovate and others around you do and strike gold, when the economic situation improves, imagine how far ahead of you they will be!