There are many things that are difficult to do in good times.

Trim your work force, renegotiate supply agreements, change strategy.

Business comprises of people, and people simply don’t accept bad news in good times.

That’s why a good crisis is priceless. Economic recession? Interest rates? Exchange rate?

If an external factor negatively impacts your business, use that reason as cover for all the things you know you need to do but you didn’t have the guts to.

Don’t be timid.

Ben Horowitz says it best: “If you have eat shit, don’t nibble.”

Crises are the time to eat shit. Go for it! Get the pain over with in one go, rather than a painful drip-drip-drip process over many months.

All crises come to an end, the question is whether you come out the other side healthier.

Never let a good crisis go to waste.