New ideas, transformative innovations, and bold thinking don’t die in periods of economic volatility – in fact, a downturn is often the starting point for big ideas and a big upturn! Companies such as Burger King, Microsoft, CNN, and FedEx all started up during economic downturns because they remained firmly focused on growth opportunities, the future and trends.
Conventional wisdom would suggest we’d better hunker down, scale back, slow down, take it easy, be cautious, reduce spending, defer our actions, wait it out, take things slow, and put things on pause. But history tells us that doesn’t work – because those who choose to relentlessly focus on growth are those who win.
How do you do this? It’s by understanding that the winners that emerge are those who battle aggressive indecision, challenge organizational sclerosis, and recommit to growth despite volatility. History teaches us that those who win are those who doubled down on innovation and transformation, and refocused on the long-term view! During the 2008-09 global economic meltdown, ‘winners’ grew at a 17% compound annual growth rate during the downturn compared to 0% among the ‘losers.’ And those ‘winners’ locked in gains of 13% CAGR in the years after the downturn compared to the ‘losers’ stalling at 1%. That’s a powerful growth lesson right there!
These winners chose to opt out of the common narrative – it’s a recession, cut back, hunker down and make sure you ride it out – and by choosing instead to go into the future full throttle, they emerged much better positioned for that future.
Futurist and innovation expert Jim Carroll shares these and other critical lessons, along with specific strategic guidance on how to double down on growth during times of volatility. It’s battle-tested, stage-proven insight developed through previous periods of economic volatility. You will come away with clear leadership insight on the growth oriented insight you need to pursue.