Recession is on everyone’s mind these days. Whether your organization is currently affected by the economic conditions or not, most of us are looking at your spending, to see if where we can save.
Another place to look is your partners: your business partners, your suppliers, your clients. If your main supplier goes bankrupt, it could affect your business as significantly as if your biggest client cancels all orders.
In a recession, the businesses that survive are those with the least debt and those with enough cash flow. As sales may dwindle from lower demand, businesses that are debt-free will be able to weather the storm, while those with a lot of debt would fold under the pressure of the payments.
Furthermore, recessions are good times to invest, to be ready with new offerings when demand picks up on the other side of crisis. Because demand always picks up, sooner or later. However, if all R&D activities are suspended while money is tight, the business falls behind its competition, and it’s very difficult to pick up that lag when times get better.
Websystems is debt-free. Our business strategy has always been to spend money we have now, and not the money we hope to get. Websystems was born during the 2001 dot.com crash. We started at a time where businesses were closing all around us. Being debt-free makes it possible for us to invest in our product.
In a way, this is our second recession, and we will go through this one the same as 7 years ago: by working hard at building the best AceProject we can. We are planning a complete rebuild of AceProject. We are taking advantage of the slower times to focus on our application and rethinking the whole thing.
These are very creative times here at Websystems.
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