Economic indicators are pointing to a very strong recovery from the pandemic, especially in the US. I’ve been fortunate to see my business pick up significantly since last September. As the proportion of the population vaccinated against COVID grows, we will see most other sectors bounce back including travel and leisure. This is very good news for businesses, at least those businesses who are ready to catch the wave.
Catching the wave
When you are riding a wave, its momentum carries you along while you navigate your way to the shore. It is exhilarating and fun. To catch the wave you have to be in the right spot and you have to paddle to generate forward momentum. If you are static it will pass you by. If you are static and in the wrong place, it can crush you.
Waves are very powerful as I learned when I was hit by a sneaker wave on the Oregon coast one morning while walking my dog. I didn’t think anything about the wave that started up the beach until I thought I would get my feet wet. As I ran up the beach, the wave overtook me and knocked me to the ground. A large piece of driftwood hit me for good measure. I wasn’t prepared and didn’t see it coming. Lucky for me, my dog and I only ended up getting soaked without any injuries.
Are you catching the business wave?
This analogy is true for the business recovery. If you are in the right place and you are paddling hard, you’ll catch the wave and ride it. Business will be great, more than making up for last year. If you aren’t in the right place and have your back turned, the wave will flatten you. Some businesses are seeing this already as they run out of inventory because they have been overly cautious. Unless they can turn things around, they will have to sit by and watch as their competitors eat into their share of the market.
There is still time to catch the wave and now is the time to invest, as I mentioned in a recent post. It’s time to take action and take a risk. There’s no need to bet the farm, but we do have to get back in the game. The alternative is to get out of the water, and that’s no fun.