Don't cut into your strengths. And do not allow management attention to be absorbed by the restructuring of weaknesses. During a crisis, large companies discuss loss-making businesses endlessly and do not devote enough attention to the units that are not fundamentally threatened. Venture capital companies can likewise get torn apart evaluating what to do with the weakest parts of their portfolio, in lieu of focusing only on building the strong parts. The reverse should be true.
Cuts have to be fast in order to free attention for the opportunities.
A decade ago, General Electric demonstrated that decisive actions allow a company to emerge stronger than it started out. Throughout the restructuring, GE invested heavily in areas such as GE Capital. Devote all your energy to building the fields in which you are strong. That is where your future lies. In your core strength business, strive to win market share.