We’re a language services (e.g., translation) company to be sure. Still we don’t always think just about language. We’re also a business. That’s something we have in common with many of our professional clients.
A few business sectors have fared well during the economic downturn of 2020. Some have not. Many others are somewhere in between. For those “others in between” their long-term existence is probably not threatened, but the future might be different than a straight linear extension forward in time from early this year.
Markets that are changing or experiencing special challenges can provide more opportunity to favorably differentiate in response to conditions.
Whatever challenges our respective businesses are currently experiencing it’s a good bet that our competitors are experiencing them too. It’s not just us. The unique challenges of this period of time are market-wide. So the eventual advantage will go to the organizations that respond best, adjust if necessary, or have the discipline to maintain their course and continue on track.
Thoughtful businesses that operate in a competitive marketplace are always seeking advantage. In a static market, potential advantages are fewer. Markets that are changing or experiencing special challenges can provide more opportunity to favorably differentiate in response to conditions. For those looking for a silver lining in this year’s business environment, that might just be a good thing to keep in mind.