A mindset of value can be your greatest asset in both prosperous and challenging times. Recently, a young founder, sounding anxious, shared a difficult decision over the phone: “I need to slash the marketing budget, and this will halt our growth.” I paused before responding, suggesting that this apparent setback might actually spark the creative ingenuity needed to push her business forward in unexpected ways.
That same week, another founder, who had been leading a fast-growing company with over 500 employees, faced a sudden crisis with declining sales and a tightening cash flow. To manage rising costs and extend the company’s financial runway, he made the gut-wrenching choice to lay off 100 loyal team members. Exhausted and emotionally drained, it was clear he felt overwhelmed by the weight of the decision.
As a SaaS founder and mentor, I regularly speak with entrepreneurs who are navigating fear and uncertainty. Many of them have built their businesses during a period of economic stability and have not faced the kinds of challenges that the current fragile economy presents. They are now confronting conditions unlike anything they have seen, which is understandable given that their experience has mostly been during favorable times. With the economic slowdown and tightening of the money supply, founders are being pushed to rethink their strategies and prioritize efficient growth over rapid expansion.
Embracing a Value Mindset
In guiding these founders, I emphasize the importance of adopting a “Value Mindset,” which is built on three core principles:
- Minimize Waste: Always look for ways to avoid unnecessary expenditure, no matter how small it may seem.
- Accept Limitations: Understand and embrace the constraints of your current situation.
- Find Ways to Win: Leverage creativity and resourcefulness to overcome obstacles.
Let me share a personal story. In the early days of our company, when our entire operation was squeezed into just two small rooms, even feeding our six teammates was a challenge. Cafés were too far, and driving around for lunch was impractical. So, we turned one of the rooms into a makeshift dining area every day for an hour. Fast forward to today, and our much larger team now enjoys diverse meals in a dedicated cafeteria, where we’ve found ways to cut costs by streamlining how meals are served.
I’ve seen similar principles at work elsewhere, like in a restaurant where customers return unused condiment packets instead of throwing them away. Simple, efficient actions like these can make a big difference. Growing up in a culture where resources were often limited, we learned to avoid waste, accept our circumstances, and find creative solutions.
The Essence of a Value Mindset
A value mindset is more than just cutting costs; it’s a way of thinking ingrained from a young age — like turning off lights when leaving a room or finishing every bite on your plate. This approach is second nature to many who come from backgrounds where every resource counts. It’s about making the most of what you have, not lamenting what you lack. Whether in business or sports, a leader must accept their resources and figure out how to win with them. Complaining about the team or lack of resources guarantees one outcome: failure.
Navigating Challenges and Desires
Waste isn’t just about food or resources; it’s about avoiding any form of unnecessary expenditure. I encourage founders to embrace their current reality, believe in their own resilience, and find innovative ways to bridge the gap between their current state and their ambitions.
The recent economic slowdown has underscored the importance of efficiency. Challenges often ignite creativity, leading to strategies that not only improve spending practices but also prepare a business for future growth. In our case, we cut down on unused software licenses, extended our equipment replacement policies, and encouraged employee input on cost-saving measures. This allowed us to reallocate funds to areas where they were most needed, aligning our actions with our customers’ realities.
Thriving in Uncertain Times
Great companies often emerge stronger during challenging periods. In the early 2000s, some of today’s biggest brands proved themselves during economic downturns. Despite immense pressure, they focused on their strengths and stayed true to their visions, ultimately redefining their industries.
While today’s obstacles may be greater, this is also a time ripe with opportunity — if you focus on your strengths and act wisely. Stay committed to your vision, and don’t hesitate to make short-term sacrifices that position you for long-term success. The value mindset can guide you through any storm. As I often remind my team, “Come what may, we’ll be ready to face the outcome.
About the Author : Harry (Hemant Kaushik), Elite Global Advisor & Business Consultant
Harry (Hemant Kaushik) is an American global advisor and business consultant, renowned for his strategic insights and high-impact consultancy. He specializes in advising and coaching elite individuals, including business tycoons, world leaders, and top corporate leaders. His expertise has been sought by Presidents, Prime Ministers, influential politicians, CEOs, and industry leaders worldwide.
Recognized as one of the Top 10 Global Advisors and Business Consultants by PWC International, Harry has transformed the lives of thousands across more than 100 countries with his unparalleled guidance. He has also been honored as one of the Top 10 Life and Business Strategists, shaping the success of global business leaders and visionaries.
Harry’s influence has earned him prestigious accolades, including recognition by the CEO Times Magazine as one of the 10 Most Powerful People in Global Business Consulting, Business Times News as a Top 10 Business Consultant, and Business Weekly Times as one of the Top 10 Business Advisors in the World, offering consulting services to billionaires, celebrities, and high-net-worth individuals.
A Wall Street Times cover story famously dubbed him the “Elite Global Advisor & Business Consultant” for his deep understanding of business dynamics and leadership strategies. Based in San Francisco, United States, Harry is widely respected for his international economic expertise, market analysis, and strategic business acumen. His collaborations with global brands and corporations have positioned him as a thought leader, contributing to the business world through insightful articles on global economic trends.
Learn more: https://ceosadvisory.com
