I was dropping my little girl off at nursery the other day and as we stepped through the door we were closely followed by a three-year-old in a Batman outfit. He looked as pleased as punch as he set off zooming round the nursery calling for an absent Robin (I think he was still in the car park having issues with his tights).
On my drive into the office that day I asked myself what would happen if I walked into work dressed as Batman. I’m sure there would be a few calls to HR but how would my day pan out if my external appearance was a bit out of the ordinary; better or worse, it would certainly be memorable. But the bigger question on my mind was when did I stop thinking it was OK to be Batman, Superman or my personal favourite Wonder Woman for a day? When did I start conforming and am I conformist by nature not just when it comes to my mode of work wear?
I have always prided myself on looking at things differently – not taking the easy or given route – but is it that as the years have passed by my mind and outlook have become more closed as I deal with the more ‘serious things in life’ unlike a three-year-old whose biggest decision in a day is whether to have Cheerios or Rice Krispies. More importantly have I lost something valuable along the way, something precious that opens up a new way of looking at the world and therefore how it looks at me?
When you take the Batman scenario and put it into a business context the questions posed are very similar. Faced with the current climate of highly competitive or dwindling markets, cost cutting, lack of finance and a focus on price – the ‘serious things in life’ – businesses are doing all they can to keep their head above the water but are they being brave? Are they taking a chance on innovation and exploring new perspectives with the enthusiasm they deserve or are they conforming focused on survival rather than growth?
During and in the aftermath of a recession business leaders are cautious when it comes to stepping outside of the comfort zone and investing in new offerings, and understandably so. However, history has shown that it is during these economic crisis points that those who are willing to innovate, strike out, take a risk and not just conform to current market expectations but create new markets can reap the rewards.
This is true also of those willing to take the plunge and start a business. In looking to the Fortune 500, 70% of those in the top 10 were incorporated in a recession year and they include the likes of GE, Ford and Exxon Mobil. This may just be down to the fact that if you can put together the assets and financing to found a company during a recession, it probably has better long-term prospects than a typical firm created during a boom.
Successful companies also maintain an appetite for mergers and acquisition during and post recessionary periods – a time when snapping up competitors and complementary companies can be a good and cost effective investment as companies’ numbers soften.
All of this activity is confidence driven. There is no desire to conform, to be a ‘me too’ but an investment and belief in business strategies which ride on an undercurrent of bravery, determination and a willingness to stand apart from the crowd. And it is these companies that will be here to face and succeed in future recessions or stormy times.
Businesses need to release their inner Batman. To turn round in 10, 20, 30 years and still be in business is a great achievement but to have survived and be recognised and envied by your peers as a market leader who has pushed the boundaries in products and service innovation is a triumph to really be celebrated.
So, when you wake up tomorrow take a second before you don your traditional work wear – who knows what some lycra, a cape and a mask could do for your day!