Canadian business consultant Richard Martin comments "Whether as an individual, an entrepreneur, or an executive, there are a number of things that can be done to thrive in a chaotic economy. Within the bounds of prudent risk management, the best defense is always offense.
"Think of the worst-case scenario for your business in the coming two years. Identify as many threats as possible. It helps if you do this in a brainstorming session with colleagues or your senior leadership team. For every threat, identify at least one preventive measure and one contingent measure you can take. Implement the preventive measures as soon as possible for high-probability or certain threats. Create contingency plans for low-probability or uncertain ones and implement only when needed."Here is where offense comes into play. Again through brainstorming, identify as many opportunities as possible that could come out of the same scenario. In other words, push yourself to find profit-making opportunities no matter what occurs. These ideas have to be specific and actionable."
Richard Martin is the president of Alcera Consulting Inc., headquartered in Notre-Dame-de-Ile-Perrot, Quebec. To see more about his ideas, go to
