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Zig or Zag; Is Your Business Short or Long-Term Focused?

Written by Peter Friberg.

I once watched a video profile of an NFL broadcaster where he talked about his investment strategy. He didn’t get very in depth, but he provided one interesting gem. He said that whenever he found a stock he liked and had bought, that once that stock made headlines, he sold it. The thinking, he said, that once a stock has become that main-stream; that well-known, its downfall was soon to follow.

When the market “zigged,” he “zagged.”

I’m also a big fan of the investor, social media guru, entrepreneur Gary Vaynerchuk. Gary says he’s looking forward to the next economic downturn. Not because he wants people to lose money, but because he said it had become too easy to make money and that because of that, there were too many non-players in the room. When the economy adjusts, the posers will leave. He’s look forward to the room clearing.

I tell those stories because I’m very intrigued by what the current market conditions in our industry portend for our future.

What will increased regulations do to the field? How will new technology change things? Will social media/internet tools change how companies hire carriers? How will environmental issues affect shipping? Will automation be coming soon or is that still decades off?

These are just a few questions facing our industry. But we need to take the long view. If we’re so focused on today’s dollar, we’ll avoid making changes that will help position our companies as the questions above are answered. We must avoid short-term thinking. Short-term thinking will push us out of business.

In business, those companies that focus on the short term, can often make great profits, for now. But even more often they fail in the long run. And our business is no different. So take a moment. Where do you want your company to go? What kind of company do you want to be? What is important to you and to those with whom you work?

How can you zag when the market zigs to make sure you and your company are not just relevant tomorrow, but next decade? (This editorial was inspired by Sean Kilcarr's article at FleetOwner.com.)

Thanks for reading.

 

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