While going global would be a prudent measure for many reading this, learning from global patterns is the next best thing. Trends don’t last and, as a result, are not reliable indicators of actual market conditions and emerging opportunities. Patterns, on the other hand, are virtually infallible barometers as they demonstrate the momentum of where things will continue to flow.
Last week, I spent time in London with a number of clients I advise while also meeting with prospects, colleagues, and officials from the US Embassy and Canadian High Commission. In comparing patterns in the UK and Europe with those of my clients in North and South America and APAC, the following four patterns are of utmost relevance:
1. Margins and profits across the globe are rising at the fastest levels ever.
Companies that are providing innovative value, both tangible and intangible, are seeing significant expansion of profits, regardless of location. Even markets that have seen recessionary conditions persist the longest, including the UK and Australia, have a growing number of companies with rapidly expanding profitability.
This week on GAIN, I’ll be revealing the Value Blueprint, which details more on what these companies are doing differently.
2. Talent rules and will for years to come.
Regardless of any future changes to economic conditions, acquiring and retaining talent will be the top differentiator that impacts outcomes. Companies that are relying too heavily on reactive recruitment methods are already seeing declines in market share and net profits. Conversely, those demonstrating a pattern of active and anticipatory recruiting, called Revolutionary Recruiting and Retention, are deepening their reach with current and new buyers.
3. Niche doesn’t always mean niche.
Focusing on an industry or market sector, such as IT, Oil & Gas, or financial services, isn’t being a niche player. Those that go an inch wide and mile deep within these and other industries are improving faster than their competitors in all aspects of their financials. This is true of SME’s and larger corporations throughout the world.
4. The Knowledge-Action Divide is shrinking in the most profitable companies.
Call it execution, accountabilities, or the Nike (Just do it!); leaders who are holding people to an unwavering, no excuses form of responsibility are the darlings of the business world. By practicing Radical Accountability, they accomplish this without any heavy-handedness or micro-management. Their companies are achieving substantially better results along with industry leading retention.
Patterns persist while trends come and go. While it may be trendy to go with the latest in fashion, following trends in business is a surefire way to quickly go out of corporate style. As the song goes, “there’s so much that we share that it’s time that we’re aware” of the patterns and what they tell us about what to do next.
It’s a world of laughter, a world of tears
It’s a world of hopes and a world of fears
There’s so much that we share that it’s time we’re aware
It’s a small world after all
– Lyrics from Disney’s “It’s a Small World”