The Stockdale Paradox reminded me of the book du jour…A New Earth, by Eckhart Tolle. He writes about accepting where you are, not wasting energy denying it or complaining about it (if it is a place that you do not want to be), and then taking steps to improve the situation.  

I do think the Stockdale paradox applies, not just to our market but to business, even life in general.  

I think that every company has to have a plan. If you don’t have a plan that revolves around your strategic conversations you will surely miss the mark everytime and the conversation will be much like you sales manager.  

The great companies do just that; they adjust their tactics to ride the waves of the market, while staying true to their core values and long-term strategies. I like how the concept stresses realistically recognizing the challenges that face us, while never losing faith in our resilience over time. At the same time, longer-term economic changes do necessitate wholesale changes to our plans.  

It is foolish to ignore this reality but also just as foolish to throw in the towel and do nothing about it. Maintaining a sharp sales and marketing program and effort, regardless of the business climate, is the key to sustainable growth. The point is, this is a never ending program, continually developed and refined in good times and in bad. Those that understand this principle will weather the economic storm, those that don’t will become its victim. Few grasp this concept.  

The concept of the Stockdale Paradox is paramount to companies in our industry right now, and I am looking at the turmoil in the building industry and specifically, the overhead garage door segment, as an opportunity for us to grow instead of a threat to our survival. Also, prospective customers have more time to assess and evaluate their current suppliers and we’re having success taking some of this market share.  

A good thing that comes out of the now state of business is not all businesses should be in business. We can’t change the facts but we can choose what we will “do” knowing the facts. Is it the worst of times or the best of times, we choose.  

The Stockdale Paradox is interesting. It strikes me as a “glass half empty” vs. “glass half full” dilemma. Some of us are always willing to give up when things get a little tough. We are quick to blame some external force over which we have no control - the economy, some competitor, bad product design, etc.  

Companies with more viable business plans than their competition will show an advanced rate of separation from their competitors in this type of economy. The marginal players will likely experience downturns in a recession.  

Many leaders are beefing up their sales teams to combat the recession. The point is, great leaders don’t flinch in the face of adversity and it permeates throughout an organization. Conversely, when a great leader flinches, or worse yet disengages, the organization is in big trouble. Half of the recession is media created and has an unwarranted negative psychological effect.  

Our inside and outside sales teams are optimistic however, that although a good percentage of our customers are reacting to the news by pulling back, there are many, many other businesses out there that we have yet to discover. And have yet to discover us.  

I am, however, fascinated by the stories of those who give up and those who move onward despite obstacles and why people respond so differently. There’s a book you might like called the Survivor Personality. Also, a film called We Are Marshall.  

…the idea of giving up or blaming it on the economy is simply not in my repertoire of strategic planning scenarios. Early in my career I had the opportunity to sit on budget planning and review sessions for a large company with a variety of business units. The CEO presiding over the meeting asked - well what about the economy and these regulatory changes? I always see change and challenges as opportunities. You must confront the brutal facts to understand the environment and figure out where the opportunity lies.  

Collins’ Level 5 leaders demonstrated another duality-that of utter resolve and utmost humility-and almost all had a defining life experience, whether life-and-death illness, military experience or a deep spirituality.  

I am a believer in driving activity during the slower times because it creates opportunities.  

I did read this and have used the Stockdale story in the past. You could relate it to the children’s story of the little engine that could. Never give up, never say die, Nobody is saying we have our rose colored glasses on and can’t see “what” the issues are; but you can’t fall on your sword and give up either. We all must push forward.  

As leaders, we need to give our crews the knowledge and resources to be capable of commercializing. Hire people that are wired in their DNA to sell in your market. Create a compensation plan that motivates the correct behavior. Generate sufficient quality leads. Adopt or create a sales methodology that fits my market. Make this methodology teachable. Reinforce the methodology and philosophy with resources and the opportunity to refresh skills.  

My experience is that the salespeople who can deal with the Stockdale Paradox have had a significant life experience, specifically a major failure or disappointment in their life AND have dealt with it and overcome it.
People with this experience have tremendous resilience.  

For many businesses, that will be a long-overdue move back to basics. Not only will cost of goods be examined, but also the processes that drive each business and, ultimately, the underlying philosophies of organizations. This is a time to become lean return to basics not because it’s fashionable, but because it’s where the most hospitable climate exists. A perfect paradox if one ever existed.  

I think the theme as to focus, discipline, execution and creativity is important and many people will hunker down, vs take advantage of the fine tuning their business and exploring new idea’s to win.  

So what if there’s a recession. Stockdale is right. If you have a good product or service people still need it. Business owners are seriously looking for ways to reduce costs and there is so much that we can do in the lighting business to help our clients cut their costs.  

It starts with feeling clients pain, but then looking for solutions to lessen their pain. I guess in that respect, if there was little pain, there would be little opportunity.  

In a softening economy many companies fall back to what they know and feel comfortable doing. Its fairly easy to cut some costs and even easier to not move until the storm passes, but what these companies fail to see is that new competition will emerge in this soft economy and the game may change. Our company sees this softening economy as an opportunity to grow our business and help our clients.  

Now is the time to be visible, be assertive and differentiate your unique selling proposition from your competitors. Now is not the time to hide out, with the thought of saving a couple of nickels.  

During tough-times, a sales company must not only persevere with planning and organization, but also with a driven mindset that is focused on winning.  

I believe what the story says is what your taglines spells out … Discipline, Creativity, Results. In good economic times, companies fail. In tough economic times, companies succeed. Steeping them heavily in that awareness and then offering them tools to step out of their potential into greater professional confidence.
Choice, that’s another word that sticks.  

I’m kind of lucky because our services are very appealing to our clients during tough times. I work for a creative services company that has a unique combination of studio and staffing services. We extend marketing and advertising departments of large companies without adding headcount. As we provide workforce flexibility, we create efficiencies and cost control measures.  

I particularly enjoyed the “Stockdale Paradox.” By looking at where your strengths are when times are tough, we can prepare ourselves now to excel when the good times return  

What I am finding is that some companies certainly are having a difficult time right now. Business is down for some businesses. I am also finding companies that are still in a rapid growth pattern and have business exceeding their expectation. There are still opportunities if you look in the right places.  

Thoughts, words, actions is how I sum it up. If I think about failure I talk about and then I live it  

The economic situation is causing some downturn, but it’s not going to stop customers from spending. They will just spend for different reasons and in different areas. I think we have a great opportunity to gain new business. Our trick is going to be finding people that can see the psychological duality and not use the economic situation as an excuse.