A lot has been said and written about surviving or thriving in tough times and it is my sense that there is a distinctive difference between the two, and it all stems from leadership:
1.Survivors hope and pray for better days while thriving firms view current conditions as an opportunity to affect long-term change that will support growth.
2.Survivors rely on cost and price cutting measures while thriving firms not only reduce expenses, but also improve the process, gain new efficiencies and improve product focus.
3.Survivors focus on the immediate cash crunch while thriving firms consider the long term objectives of strengthening the business, advancing its competitive market position, and gaining greater market share.
And when it comes M&A success in todays difficult market, selling firms that are active in M&A are more likely to receive quality attention from buyers and a market premium for their business, while survivors will probably either close their doors or be gobbled up in a bankruptcy sale.