With the financial fall out in the US being felt in markets worldwide, Dickens’ famous quote rings true now more than ever. The question I get from my clients is “are these good times or bad?” They’re neither. They are what you make of them.
Opportunities abound, 12 months ago we were in the height of greed. The share market had three years of successive highs and people thought this time the bubble couldn’t be burst. Now you can buy stable companies, with stable earnings, cheaply. Now is the time to really set yourself up.
Adversity breeds opportunity, a motto adopted with success by Warren Buffet, the richest man in the world. He has made his fortune on exactly this philosophy, and he just in invested $5billion last month.
With seven billion people on the planet and untold amounts of resources, needs and ideas, there are an infinite number of opportunities to take advantage of. Now is the time to understand your strategy more deeply than ever, focus on flawless execution, focus on your strategy, focus on innovating to meet your customers’ needs, be more organised and prompt in your dealings, and take the market with you.
I was out with a client the other day visiting one of their customers associated with mining. They were relaying the story of how they had found a new use for a mined material that was previously a waste product. It is now being used in the production of LCD televisions, and subsequently is in huge demand. Only six months ago it cost money and resources to dispose of it, and now it is turning in a profit.
In a time when others are pulling back to ‘wait for better times’ or more favourable conditions, they risk missing the boat. Now is the time to go boldly into the market place with a strategy. Focus your energies now more than ever on being organised, and communicating your value.
All the while, your competition is ‘waiting for things to get better.’