Commentary & Recap: Futurist Libey Examines the Present at MeritDirect, Part 2 of 2
11. Strategy. Know what to do if recovery happens in the next few years — and what to do if it doesn’t.
12. Capital. Every successful company is well-capitalized, Libey noted. When the economic recover comes, such companies already know how much they’re going to need and already have it lined up. Acquisitions are difficult because banks won’t give a lot of money now. But if you’re undercapitalized, you have a problem.
“Either get some money from somewhere, or accept the fact that you won’t get big and it’s a survival game for you,” Libey said. “But if you’re well-capitalized, you’ll have opportunities for acquisitions, international expansion, product expansion and customer acquisition expansion.”