I had the pleasure of hearing the always insightful Dr. Alan Weiss deliver a powerful teleseminar this morning titled “Riding the Recovery.” I’m sure this title will be available on his website.
Dr. Weiss suggests that you have to ride this economy like a wild horse. There will be ups and downs, turbulence and hair-raising moments, but the important thing is that this wild horse economy can be ridden. You just have to have your wits about you and know that you can do it.
Economic downturns are as much driven by our own psyches as by fundamentals in financial world. The stock market is little more than a barometer of how we feel about the future, not about the economic realities of the day.
Too often we allow ourselves to feel hopeful and optimistic when the markets move up and down in the dumps as the markets move downward. Realistically, we should all remember that fluctuations are normal and we shouldn’t place the importance on day-to-day movement that we do.
You have to decide where you want to take your business. If you want to be timid, stop investing and wait for Wall Street to tell you everything is fine and it’s okay to invest in your business again, you’ll be too late for your competition will have stepped in to the vacuum you created while you decided to ride out the storm in a safe harbor, positioning your competitors to leapfrog your market position.
This is the time when companies need to be investing in systems and processes, people, and new or enhanced products and services to be in the best position possible to thrive coming out of the economic downturn.
Alan’s advice: Make this the right time!
Run your business as though it is your business and not subject to the perturbations in the marketplace.
Dave Gardner, Gardner & Associates Consulting http://www.gardnerandassoc.com