What You Want Your Competitors To Be Thinking

Posted by:

Here is what you want your competitors to be thinking right now:

“Boy, things are really uncertain. The economy is topsy-turvy, flights are being canceled right and left, and the country is reeling. We should probably hold off on any ‘frivolous’ expenses—like innovation—until things settle down.”

That’s what you want your competitors to be thinking right now.

Because right now is exactly when you should be doubling down on innovation.

In uncertain times, the innovative companies win. In fact, it’s often a double win, because many of your competitors will be cutting back—which means you have an opportunity to increase your market share by taking some of theirs.

In fact, it’s a triple win. It’s a triple win because, as it always has, the economy will recover. And when it does, the investment you made in innovation right now will pay tremendous dividends.

See, the companies that innovate when everyone else is retreating into their shells are the companies that get noticed. They stand out from the crowd. And this gives them a huge competitive advantage when the market rebounds, and the competition is suddenly trying to play “catch up.”

When times are uncertain, the natural reaction is to crawl into a hole and wait it out.

Meanwhile, the smart companies—the ones that see the opportunity—do just the opposite.


About the Author:

29-time Emmy Award winner and Hall of Fame keynote speaker Bill Stainton, CSP is an expert on Innovation, Creativity, and Breakthrough Thinking. He helps leaders and their teams come up with innovative solutions — on demand — to their most challenging problems.
  Related Posts