"I hope the business will be back soon." — heard this from creative firm owners more times than I can count. If you're relying on hope and tightening the belt to survive this downturn, it’s time to rethink. The reality? The markets have been down for 18 months, and studios are closing. So, what's your move?
There are only two approaches: feed-back and feed-forward.
In uncertain times, the instinct is to retreat and protect what you have. Sure, cutting costs and optimizing processes keeps the lights on. But is that a strategy? It's a prolongation tactic at best. Should you take it? Of course! But keep in mind It can only get you so far. Isn't a year and a half enough to realize things changed?
I'm not asking you to take my word that "business as usual" isn't coming back. But as a responsible business leader, shouldn't you assume that's exactly the case?
If so, is relying on feed-back approach going to cut it? Or perhaps, trying to salvage an obsolete business model, we're falling into complacency?
While cutting costs and optimizing processes can improve efficiency, does it truly help push your business forward?
I guess you know the answer.
Managing a business involves maintaining momentum, while taking calculated risks, leaping into the unknown. The business is where the risk is. True leadership involves looking beyond immediate financial pressures and focusing on long-term vision, even if the future remains uncertain.
Is your firm future proof? I prepared a special assessment, so that you can see how well your firm is prepared to handle the future. It is free and takes no more than 3 minutes.
Let me share a few examples. Two decades in creative took me a few pivots.
It's 2007. My digital agency thrives, serving financial sector. Boom! Overnight, we went down. But we stood up, shook it off, and six months later, we're writing a new chapter.
2012, our revenue from brand, design and interactive kept dropping. We kept those services, while charging into film, time lapse and motion control, shifting to new value chains. The market was uncertain, but we took a leap of faith.
2017, we bet on venturing into 3D animation and visual effects. Was that a safe bet? By no means. More — a mix of calculated risk and intuition, that proved to be the best use of our potential.
True leadership is defined not by playing it safe, but by embracing risk and steering through uncertainty.
Post-covid years were one of the ripest whether you're in design, motion, film or marketing. But now it's over. It accelerated inevitable changes, and we have to wake up.
Are you sure hope-fueled feed-back tactics are going to cut it?
Maybe it’s time to deploy an innovation budget — not just financial, but mental?
With brands relying now on in-house teams, and an influx of new talent with insane visual-crafting capabilities powered by AI, it's time to stop and reflect.
What new avenues are you ready to explore today?
What risks are you prepared to take to future-proof your firm?
What fears are holding you back from taking a leap forward?
Think about it. The future of your business depends on it.
Keeping you on your toes!
Till the next one.
Hope is not a strategy: future-proof your creative firm in uncertain times