Gregg Schwartz is director of sales and marketing at Strategic Sales & Marketing , a lead generation company founder industry specializing in large account generation of B2B leads.
Recent years have seen a lot of economic turmoil. Since 2007, we have witnessed the bursting of the housing bubble, the stock market crash of 2008-2009, the Great Recession, high unemployment and a few years of very slow economic growth.
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Now it is 2014 and it seems that in many ways, the US economy finally begins to return to "normal." Job growth is up, the stock market has recovered and people feel more optimistic. After years of economic uncertainty, we could finally reach a period of greater stability.
Although this is good news, it is worth remembering that for companies, economic uncertainty is not always a "bad thing". The truth is, even if the stock analysts talk a lot about how companies and investors hate uncertainty '' in the economy, the best entrepreneurs are not afraid of uncertainty. In fact, they thrive on it.
Here are some reasons why uncertainty might not be a bad thing for your business.
Uncertainty can lead to a further growth of the company
The time of great uncertainty may be the perfect time to introduce a new product (cost of supplies could be cheaper, the advertising could be cheaper, and your competitors might be too risk-averse to make a move), hire new employees (good, talented people could just be laid off by your competitors) or even start a new business.
According to research in 2009 (to the point of great Lowest recession) of the Kauffman Foundation , more than half of Fortune 500 companies were founded during a recession or bear market, and nearly half of the Inc. list of the fastest growing companies in 2008 were founded likewise "uncertain times."
the Kauffman study also found that "recessions and bear markets, while they bring pain and often lead to short-term declines in business creation, do not appear to have a significant negative impact on the formation and survival of new enterprises. "
These results are promising, because it could mean that even if the surrounding economy seems really fragile and everyone is afraid of investing, smart companies with good leadership can still make a big difference and grow for the future.
uncertainty can generate innovation
the time uncertainty may be the perfect time to try something new. When the economy is stable and predictable, innovation could suffer because companies might be too complacent to make big moves they need to do.
also uncertainty levels of the playing field for small businesses when no one knows what will happen next, creative and innovative visionaries are more valuable (and highly rewarded) than ever before.
Not afraid of uncertainty; instead - exploit. Uncertain times might be the best opportunities to gain market share from a competitor or launch a new product or change your business model.
The uncertainty preparing your business for the future
If your business can survive and prosper in uncertain times, which is a good sign that you are going to continue to succeed once the economy returns to "normal." most of your competitors probably squatting during the last recession - they were afraid or unable to invest in major changes; they tried to weather the storm.
Another side effect of the uncertain times is that customers are cutting back - so there is pent-up demand waiting when the economy recovers. If your company can continue to innovate even during scary, uncertain times, you will be better positioned to make gains in wholesale sales once the economy stabilizes and people are starting to spend.
There is an old Chinese proverb, "May you live in interesting times." The last few years have certainly been "interesting", and not always in a good way. But now that the economy emerged from the worst recession in the last 30 years, it is good to remember that tough times are not always "bad" for business.
If you can continue to work, continue to innovate and find creative ways to deliver value, uncertain times might just put your company on the path to greater long-term success.
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