The Dangers of HindSight
So what do you do when you rediscover opportunities after the fact?
Suppose there's a markets that was interesting at some point in the past, but you've traveled forward on a different course. And now - that market is skyrocketing.
It's own natural to want to pursue that opportunity when it becomes popular-or when you become desperate.
Let's say you passed on that market last year because it just didn't look like a winner. But now it's the hottest track around. It's tempting to return, isn't it? It's only been a year, you say to your- self. You can still get in there and win
Banking hard to chase 20/20 opportunities is usually not the optimum course for growth. Yet sometimes, it may be your best option. Once again, it's a situational decision.
If that market's growing, there are bound to be leaders who already have velocity going for them. Why make a significant turn to take on a bigger competitor who is well entrenched?
But what if you're already grounded due to government regulations or an unexpected market disaster?
That 20/20 market may be a perfect fit for the value that remains in your business. In this situation, that 20/20 market may be just what you need to relaunch your business.
It all depends on your value, other available options and which course delivers the best momentum and opportunity to determine your best growth path.
An abrupt and major change in course is rarely the best choice for a stable business.
We can learn from these markets. If that 20/20 market is a true opportunity then the markets around it, both complementary and emerging, are likely opportunities for you. Evaluate these market segments closely.
When you see a potential winner that's coming into alignment with your value, you can plot an intercept course-at a point in time that is optimal for your business growth.
Just don't assume Hindsight is 20/20. That will send you spinning every time.