Why is it a good time for IT companies to go out and secure businesses? What advice would you give to IT companies in the current environment?
Well, I would think, one, hold on to your high performers. Two, make sure they are happy because they will generate the new business for you. Three, go out and look for good salespeople, because this is the type of marketplace that good salespeople will become available to. And four, build a robust pipeline. And IT companies or technology companies that I think will eventually succeed will be the ones that are the true partners in a business. We all talk about partnership, but few actually live and breathe the transparency and trust that is required for a true partnership. So, I think out of this will emerge the true partners from an IT partnership. The rest will disappear or become smaller.
My last question is a bit speculative. When do you expect the current economic turmoil to turn into a recovery?
God, your guess is going to be as good as mine! Im not an economist!
Whats your gut feeling?
Reading from the economists that our experts have, there are three possibilities. There could be a quick turnaround, 12-18 month turnaround, and thats what everyone is referring to as the V-recovery. There could be a more long and drawn-out recovery which everyone calls the U-recovery, and then theres a W in the middle somewhere; a recovery now and then a drop later on.
Im not sure, Im an optimist at heart, so Id like to think that well see a fairly quick one, but I understand that the nature of this crisis is very different from everything else that weve experienced. So I would put my bet on a bit of a long, drawn-out recession with a slow recovery at the end, so Im probably leaning towards the U, if you wanted my personal perspective.
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