From Seth’s blog:
I’ve seen it before and I’m sure I’ll see it again.
Whenever a business cycle starts to falter, the media start wringing their hands. Then big businesses do, freelancers, entrepreneurs and soon everyone is keening.
People and organizations that have no real financial stress start to pull back, “because it’s prudent.” Now is not the time, they say. They cut budgets and put off investments. It’s almost as if everyone is just waiting for an excuse to do less.
In fact, they are.
Growth is frightening for a lot of people. It brings change and the opportunity for public failure. So if the astrological signs aren’t right or the water is too cold or we’ve got a twinge in our elbow, we find an excuse. We decide to do it later, or not at all.
What a shame. What a waste.
Inc. magazine reports that a huge percentage of companies in this year’s Inc. 500 were founded within months of 9/11. Talk about uncertain times.
But uncertain times, frozen liquidity, political change and poor astrological forecasts (not to mention chicken entrails) all lead to less competition, more available talent and a do-or-die attitude that causes real change to happen.
If I wasn’t already running my own business, today is the day I’d start one.
Yep. Investing in your business during uncertain times isn’t so much a question of courage as it is business savvy. When would you rather spend money to stand out and gain market share: When your competitors are gunning for you full bore, or when they’re cowering in their holes, waiting to see if the sky will fall? This type of crisis is giving smart companies the perfect opportunity to bound ahead and plant the seeds of their next growth spurt. Maybe not tomorrow, maybe not next week, but definitely within the next 6-12 months.
You have two choices: a) Cower and hide, or b) grab the bull by the horns, take a leadership position and go win some new business. Financial crises aside, if you had a valuable product a month ago, you still have a valuable product today. Don’t let fear paralyze your business. Use your competitors’ hesitation over the next few weeks and months to your advantage. Strategy 101.
Have a great Monday!