Can you imagine a world in which there is no competition? or limited competition? It’s a strange feeling, but it’s one you’re going to have to look forward to in the coming months and years. I see industries collapsing under their own weight these days. The american auto companies, even with their bailout, are going to be a mess again within a year. Instead of treating the problem, it seems like this band-aid approach is simply prolonging the inevitable need to restructure, or simply perish. The same can be said for the banks, the airlines and every other industry that is falling apart at the seams. But where does that leave you, faithful reader?
If you’re like me, you’re not just looking around, but you’re looking within. You’re tightening processes. You’re removing dead weight. You’re looking for new ways to overturn opportunities previously in limbo. You’re making the best of your situation.
Now look around. Is your competition doing the same thing? Those giants in your industry, no matter what industry you are in, are no doubt staggering these days. Remember the saying about the bigger you are, the harder you fall? That’s no truer than in times of economic quagmire. Is it any wonder that the american auto industry, with it’s bloated promises and empty pockets, is having such a tough time? While all auto sales are down, why are they fairing far worse than their import competition? Could it be because they haven’t innovated enough to stay ahead of the curve? Could it be because they keep on employees that don’t put the same effort into quality? Could it be because they have costs that overrun profits? These are all big questions, and I’m not qualified enough to answer them. But if you apply the same problems they are having to the industry you are in, do you see the similarities?
There are things you can do to keep yourself from walking in their shoes. Look at what isn’t working for your competition and steer clear of it. Look at the biggest in your industry and how they struggle, and find ways to make yourself shine in their darkest days. You’ll soon see that being small, agile, innovative and logical will help you pull through. Have faith, and perhaps one day your failed, bloated, broken competition will fall to the wayside, offering you a moment to bask in the glare of new opportunity. For every void, there is someone waiting to fill it. Why not let it be you?
