OCH magazine

The trouble with forensic market forecasts and visuals charting cyclical patterns and processes, is that folk can be lulled into a passive sense of security, thinking that everything ebbs and flows at its own pace and industries cannot be influenced or affected by the companies that work within them.

It doesn't actually matter how large the thread of truth is in these reports, the mindset is wrong.

In good times, these cyclical patterns lead to caution.  After all, as has been proved to be the case, one day soon things will slow down and we should be ready.  But, in times of strife, much like many are experiencing in today's marketplace, it can lead to a sense of acceptance.  Furthermore, many assume that rolling back the marketing, canceling shifts and sitting tight until things pick up is going to automatically see them return to the good times.

Nothing could be further from the truth.

In a two-pronged message to the overhead lifting industry's suppliers and end users alike, take heed of this warning: only the astute, aggressive firms will come through this recession equipped to seize the next big opportunities.

John Nofsinger, CEO of the Material Handling Industry of America (MHIA), said in his address to the international media at McCormick South earlier this month that while the "forecast is for a decline of new orders in 2009 in the 18-20% range," there will be a recovery "late in 2010."

But there's no divine right to pick the rich fruits that the refreshed marketplace will offer.  Far from it.  You've got to put the ground work in now.

Sure, CEOs (most are enduring their toughest time in many a year) will be under intense pressure to justify marketing initiatives, but you've got to stay in front of your customers, potential customers and, perhaps more prevalent than all at this time, your competitors' customers.  This is the right time to be looking to gain market share off rival suppliers in the market.

Be the best.  Economic weakness can inspire innovation and new products.  Have another look at the product remit, find another niche.

Sure, this is no bottomless pit but times are hard.  Make sure your firm doesn't miss opportunities now to seize the day later.  Be one of the forward-thinking, innovative companies responsible for dragging the industry out of the doldrums.

Richard Howes, Editor

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