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In uncertain times, the first impulse for resilience-minded execs might be to cut costs and shore up the holdings they have—but that might not be the best path. Instead, building new business becomes even more critical in these times than in times of stability. Crisis and disruption are here to stay, write partner Matt Banholzer and senior partners Ralf Dreischmeier and Ari Libarikian, and conventional approaches won’t yield the same impact in a changing world. New-growth tactics have already seen results; 34 percent of companies that prioritized business building kept their revenues from shrinking during the pandemic. Don’t miss a new article on the types of new-business builds best suited for resilience, countering cyclic swings, and why top-performing companies are looking towards growth.

Business building: The path to resilience in uncertain times

In an uncertain economy, executives’ first instinct might be to cut costs and shore up established holdings. A better way is to build new businesses.

Quote of the day

“More and more, I think we all live in an environment where we work for money, but you want to feel like your work matters and it counts, and makes a difference. That’s why having clarity of purpose will drive employee engagement.”

—David Thodey, former CEO of Telstra and former chair of the Independent Review of the Australian Public Service, on the New South Wales government transformation in “Lessons in leadership: Making government ‘a great place to work’”

Chart of the day

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— Edited by Sarah Skinner, editor, New York

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