As we all know, this economic downturn has been severe and the recovery period has begun but will be long. This dynamic can create what I call a “market trap.” If it rains every day for 30 days straight (as it essentially did in NY in June), we come to expect rain and plan for rain. What if on the 31st day, it’s sunny? Or what do you do if it does rain again on the 31st day?
What do I mean by market trap? If your particular industry or business is on the decline (whether in actual dollars or growth percentage), you can be lulled into riding the market down with your competition. I don’t mean to suggest there’s a magic bullet out there for each of us to miraculously achieve stellar growth in this economy. However, I believe there is significant opportunity in, yes, this market. I had the privilege of meeting Carl Icahn, an icon (no pun intended) in the investor community and Ken Langone, co-founder of Home Depot. Both had similar messages – not of dire straights and despair but truly of hope and opportunity. They weren’t being artificially optimistic. Their message, which I believe in whole-heartedly, is that there are opportunities right now to outperform the competition and your industry norms. But they are not visible to everyone. They have to be discovered, thought-through, and executed quickly.
This is what I’m currently working on with my team at Axispoint. How we can outmaneuver the competition, create growth today, and be the best partner we can for our clients while it’s raining - all the while, building the company to achieve superior returns for employees, customers, and shareholders when the economy is truly bright once more. Do not let this market trap you into the “wait and see” approach. Do something. Change. Get better. Find your opportunity.
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