It’s hard to invest when the economy is poor. But that’s exactly when you need to do it.
This economy is making us way too conservative. For years, the big guys have been cutting back on their research and development budgets to protect pennies of earnings, thereby killing any prospects for real innovation. Smaller players, like us, have been saving our shekels rather than advertising and promoting our businesses.
But we should be investing aggressively in the future–like we really mean it–or many of us won’t have a future to worry about.
Now’s the time to demonstrate to that you have the courage of your convictions. When the whole world finally wakes up and jumps back into the fray, it’ll be too late. I like to think of running ahead of the pack this way as “getting ready to get lucky.”
When you bet on yourself and your future, you accomplish three other important objectives:
(1) You effectively set the pace for the rest of the market. You can become the market leader even if you’re a tiny company.