One of the many gems I’ve learned from Gino Wickman is how the economy occurs in 10-year cycles. His mentor, Sam Cupp, shared this simple, reliable, and accurate way to think about business: …in any 10-year cycle, you’ll have 2 amazing years, 6 steady, solid years and 2 years that could put you out of business.
As we look at the state of our world right now, you might see it through any one of those lenses within the cycle depending on the industry you’re in.
On the roller coaster called business, I remind clients of this cycle whether they’re at the top or the bottom of the big hill.
When at the top, we can become sloppy – I like to say, “fat and happy,” meaning we relax and lose our discipline.
When at the bottom, we can act out of scarcity and overcorrect everything that’s not working out of fear for what’s next.
Both of these approaches can lead to disaster.
Recognizing the rollercoaster will continue and operating with discipline is the answer. You must remember it’s all temporary.
Stay focused – especially when it’s difficult.