7 Winning Tactics during a Downturn

I was reading the B2B magazine the other day and this article topic caught my attention. There are lots of opportunities when the market is going well but there are also opportunities when we experience a downturn. Here's my insights from the article.* Review your mission statement - At Intuit we always ask ourselves "what are we solving for?". Are we solving for our customers by providing great customer value? Are we solving for our shareholders by cutting costs and improving our efficiencies? Are we solving for our employees by building an engaging team?* Take this time to be sure you have the right team - At Intuit, "It's the People" that makes the difference. We aim for attracting and retaining the best talents.* Check in with your customers; don't make them your least important constituency - At Intuit, we provide many avenues for our customers to voice their opinions. We call them Voice of Customers (VOCs). The online community is one, we also do "Follow Me Home (FMH)" exercises with our customers, meaning, visiting our customers, watching them work in their own environments and listening to them about their pain points.* Keep tabs on your competition - Be aware of what others are doing. When competing with them, also learn from them. * Keep your employees in the loop - At Intuit, we have a concept called "Line of Sight". Our senior management shares their insights and company strategies with every level of the organization so that, all the things we work on eventually map back to the company's objectives.* Take a longer-term view - At Intuit, we are also taught the importance of balancing the short-term and the long-term. Don't just focus on the current situation but be able to look far ahead for years to come.* Price strategically - The article says that "price competition destroys market value. Customers never buy on price. Customers buy on value, no matter what they tell you". As a consumer, I agree with that. I am willing to pay for the right value.Thoughts?