It’s total panic in 2008, and 2009 is right up there with the depression of 1929, the crash in 1987 and the 1974 oil crisis. Perhaps even worse – who knows what will happen before it bottoms out.
Everything is CRAZY right now. There is a media frenzy generating FEAR, and most people are trying to sit it out, perhaps trying to figure what’s coming next. WRONG MOVE!!
In order to get off to a running start when things do improve you must take action now. It’s no good waiting a year or so – you will be left behind with no way of catching up. Now is when to take advantage. Now is when to get advertising – advertise now and you will benefit over the next 5 years.
It might not make sense to you now, but it will when you do it. The time to get active in marketing your business is when your competition is sitting with their heads in their hands. That’s when to promote your brand and get your name known. When things turn round and people have money to spend, who are they going to spend it on? The brands they remember most – the ones advertising throughout the bad times.
Adversity Brings about Innovation
It is during periods of adversity that those with the positive attitude shine and do amazing things. Look at Coke: they formed out of the Prohibition law in Atlanta in 1886. “Pemberton’s French Wine Coca,” changed name to Coca-Cola and history was made. Rather than sit back and wait, Pemberton produced a dry version by replacing the French wine with sugar and promoting the ideal ‘temperance drink’.
It is apparent from reading the business press that business leaders are seeking to minimize the impact of the recession on short-term profits, rather than thinking on how to use the current situation to their advantage, and build up value for the longer term. No Pemberton’s here!
Leaders think long term
Is your strategy aimed at the longer term? If not, why not? Can you think of any ways in which to take advantage of this period in history? If not, then get working on it or you might be left behind. When most competitors are dormant you must be active.
What has Warren Buffet being doing? Investing! $3 billion in GE and $5 billion in each of Goldman Sach’s and various other ordinary shares. Warren knows what he is doing.
He was quoted as saying last year that he was unable to find anything to buy because everything was too expensive. Everybody was trying to get a slice of the action. Now, nobody is buying anything, and Warren is picking up bargains.
When most people are affected by media-driven fear, those that take advantage of the situation to promote their brand, advertise their products and get better known by the public will benefit. Fearless companies will dominate and those that sit back waiting will drop away.
Many people will make millions while others will fade into obscurity. It has been demonstrated time and again that those that are proactive during a recession, and advertise, advertise and advertise will benefit over the following 5 year period as people become familiar with their brand and buy from those who have been promoting their products when times were tough.
Now is the time to plan for the future. Don’t sit back and do nothing, because that will be a plan for failure.
Trite but true.
‘Helping Leaders build great organisations”
(C) Daniel Lock.
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