You may need to consider the "unthinkable" and create alliances with your competitors to make it through the current economic downturn.
Let this one soak for a minute.
I'm the last person to lecture anyone about competitive "cease-fires" or "working relationships". Slant is in the competitive disruption business so the concept of playing nice does not sit well with me. Competitors are to be analyzed, benchmarked, targeted and defeated. Simple plan. No hidden agendas. Put them on notice, rattle their cage and take their clients.
Here is the reality, every industry will see some sort of contraction. Some of it will be internal and will include; restructuring, lay-offs and budget cuts. Some will be external, driven by contraction in their client's world. Most businesses are not set up to cash flow extended periods of declining revenue. Dare I say, no company is set up to run with a declining revenue model. (See: GM, Chrysler and Ford)
So here's the thought. Think about creating alliances of convenience and survival. The higher priority is to protect the integrity of your industry or vertical. This means you have to band together to serve the needs of your clients so that they don't shift their paradigm and cut you out totally. Today's temporary cost cutting initiative can easily become tomorrow's best practice. The service industry is extremely susceptible to these seismic changes in buying and usage patterns.
Some of you have already fostered some sort of competitive alliance. Congrats on being ahead of the curve.
For the rest, think through this one. Your survival may depend on it.
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