Is the increased wind you are feeling a gust or a puff—a temporary condition—that will soon pass, or is it a freshening wind—a sustained market change that requires you to make an adjustment? Not every market change requires an immediate response.
“To do nothing is sometimes a good remedy.”
Hippocrates
Resist the temptation to follow a competitor off to a far corner of the racecourse to prevent him or her from gaining some unlikely advantage. Race your race, not your competitor’s.
If you hear a rumor that a competitor is going to open an office in a location that could siphon off some of your business, pause to reflect before rushing to open an office there first. Just to block your competitor is not a good reason to open an office, if that office does not otherwise make economic sense for your organization.
Deploy your strengths in support of opportunities, not against threats. Results are achieved by exploiting opportunities, so allocate resources to support opportunities, not to defend against threats. Do not let your competitor run your business. You can do a better job.
Any decision or any action is not automatically better than no decision or inaction. Sometimes doing nothing is a valid strategy. There are times to be patient and wait, and there are times to act. There must be a real tactical or strategic reason driving the need for an action or decision.
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