This is Part Four of a Five Part Series with Tyler Pyburn, Host at The Pulse Network, and Stephen Saber, Chief Executive Officer at The Pulse Network, on how to innovate during a shaky economy.
Like I stated in my previous post, this is a discussion on an article by Stephen Wunker on the Harvard Business Review’s Blog Network titled, Five Rules for Innovating in a Shaky Economy,
Shaping your Portfolio
Picture your business like you picture your portfolio. There are different ways a person manages their portfolio based on the changing circumstances in their life; the same should be done for business. What type of circumstance is your company experiencing? Once you have zeroed in on the issue use how you would manage your portfolio as your reaction. I gave the example of a business owner that is living quarter to quarter, the reaction has to be high risk high reward because the only other option for the owner is out of business. Yes, on some sense you will be gambling with your business but a CEO’s job is to identify the risk and rewards and judge whether or not the solution is will have a viable outcome.
Check out the entire series from start to finish, Part One, Part Two, Part Three, Part Four.
