Economic pressures require CEO's to take more market share or to be gobbled up.
Posted by Frank Belzer on Wed, Mar 11, 2009 @ 04:48 PM
We just got back from the annual OMG conference - this time in sunny Miami. I was able to re-connect with some colleagues and friends from around the world. We were together for a few days looking, learning and listening to some ways we could all do a better job at helping CEO's do a better job.
As is the case with most conferences there are some interesting things that you take away and look forward to implementing. There are some different approaches and unique ideas out there. It is also to listen to how other attendees process the information, hear what it was that struck them and why.
There is no doubt that the economy was on everyone's mind - but unlike so many other businesses our discussions centered around ways we could help our clients survive, dig out and even thrive in this economy. Some of the questions that we entertained might be worth asking yourself if you run a company - here is one:
Usually in a recession someone in your industry goes out of business - who will it be in your industry? Who will fill that gap and take the market share that is left behind? The company that does will emerge bigger and stronger than before and you can't do that from the hunker down and wait and see approach - this would require a proactive approach.
Historically speaking - every time a great empire or ruler fell somebody filled the gap they left. Usually that person or empire wasn't invited to fill the spot by the competitors, an ad wasn't placed nor did it usually happen by accident. They took it!