Five Reasons Why Now is the Most Exciting Time to be in Business

Nov. 13, 2009
Carpe Diem. Seize the Day. Great motivating phrases, but would you recognize an opportunity if someone dangled it right in front of your face? Most of us would like to think so. Well, let's test this theory. An opportunity has been forming right under ...

Carpe Diem. Seize the Day. Great motivating phrases, but would you recognize an opportunity if someone dangled it right in front of your face? Most of us would like to think so.

Well, let's test this theory. An opportunity has been forming right under your nose, but you may have missed it because you were focused on doom, doom and more doom.

Although for the past several months we've been hanging out in this dreary, dark economic hole that we fell into, there is a light at the end of the tunnel. For now, you just need to make sure that you reach the end of the tunnel by seizing the right opportunities.

This is a great time to be in business because the doom is starting to lift, and we are on the uphill. Don't believe it? Here are the top five reasons why now is the most exciting time to be in business.

1) There is No New Normal
What I mean is that the pace of change is so rapid, there is no time for complacency. This is very exciting if you are one of the movers and shakers. However, if you are a wall flower, you may want to get out of the way, because the wall is about to fall and you don't want to be underneath. Know your direction and take action. Don't stand there waiting for someone to ask you to dance. Get at the head of the conga line and make everyone else follow you.

Make sure your supply chain has substantial flexibility and modularity to succeed and thrive, along with supply chain visibility, and the possibilities will be endless.

2) Your Weaknesses are Staring You in the Eye
How great is it to be aware of your weaknesses? From my perspective, it's really great. I like to know my weaknesses, before it's too late. This gives me time to be proactive and prepare for the future.

Like with the Bernie Madoff situation, the economic downturn revealed numerous vulnerabilities that led to even greater problems. Repairing a crack in the Hoover Dam would be a lot easier than rebuilding it. Take the time to patch up the areas that need the most work now so that you are not fighting against the current as the recession ends.

3) You can Put Your Best Foot Forward
OK, right foot, now, left foot. As we climb out of the recession, it's an uphill struggle. As you huff and puff to make it to the top, it may be easy to forget that your competition is struggling too. However, now is the most opportune time to get ahead of your competition. The best way to do this is by knowing what you are up against and understanding what it is that will put you ahead in the race. Evaluate your competition and stay at least one step ahead.

4) You Control Your Destiny
You can sit on your hands and wait to see what happens, or you can get out there and create your own destiny. Keep up to date on what's going on in the economy as a whole and know what's going on in your industry. For example, the supply chain challenges food and beverage industry executives due to many issues like new FDA regulations, along with changes in consumer habits due to tighter food budgets as a result of economic pressures. Usher in smart strategies and processes for your industry and your business. You can check out the Executive Briefing that I recently wrote on "The Great Comeback," which will help you create a plan and be more prepared, no matter what your industry.

5) America's Got Talent
And I mean lots of it. What's been happening to all of the folks who make up the high percentage of unemployment? They're waiting to hear from you. As the economy rode the down slopes, we tried to encourage companies to keep their talent, but many continued with layoffs for various reasons. Now, here we are on the lift, and you can pick up some really talented passengers.

Stay positive as you create your Comeback Plan. Keep these five exciting reasons in mind and be open to new opportunities. In the end, you'll be on top, leading others out of the recession.

Tompkins Associates

About the Author

Jim Tompkins | CEO

Dr. James A. Tompkins is an international authority on leadership, logistics, material handling, outsourcing, and supply chain best practices. As the founder and CEO of Tompkins International, he provides leadership for Tompkins globally.

His 30-plus years as CEO of a consulting / integration firm and his focus on helping companies achieve profitable growth give him an insider’s view into what makes great companies even better. Listen to an interview of Jim Tompkins on the Business Leader Radio show.

As a high-level business advisor, his unique perspective prepares corporations and executives for the future.

To share his knowledge and provide up-to-date information on supply chain and business trends, he developed the GoGoGo! Blogand Global Supply Chain Podcast.

He has written or contributed to more than 30 books and eBooks, including Caught Between the Tiger and the Dragon, Bold Leadership, Logistics and Manufacturing Outsourcing, The Supply Chain Handbook, andNo Boundaries. Jim has been quoted in hundreds of business and industry magazines such as The Journal of Commerce, Supply & Demand Chain Executive, and FORTUNE, and he has spoken at more than 4,000 international engagements.

Jim has served as President of the Institute of Industrial Engineers, the Materials Management Society, and the College-Industry Council on Material Handling Education, and Purdue has named him a Distinguished Engineering Alum. He has also received more than 50 awards for his service to his profession.

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