Stop Taking Tiny Steps When Large Ones Are Needed
In a book about companies that survive for hundreds of years, The Living Company, author Aries de Geus recognized that enduring companies “reacted early rather than later, by foresight rather than catch-up.”
Here’s an example to consider:
Instead of laying staff off during the Great Recession, Steven Koch made two salary cuts at Big Brothers Big Sisters of Tampa Bay. He made one 5 percent cut at the end of the first quarter when their income fell below expectations. Less than a year later, he enacted the second cut of 9 percent. “I wish I had done it sooner and at a higher percentage.”
Despite this hindsight, Koch emerged from the recession with his staff intact. Many nonprofits did not.
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