During challenging economic times, it’s natural for leadership teams to feel pressure as customers become more cautious and business slows. When the financial results aren’t where they need to be, many companies start questioning their strategy. They begin looking for new products, new services, or different markets in the hope of finding another source of revenue. The problem is that shifting your attention to something new can pull your focus away from the things your customers value.
I learned this lesson firsthand during the Great Recession.
At the time, I owned a design and marketing firm, and one of our clients built world-class offshore fishing boats. Like nearly every company in the boating industry, they faced severe headwinds as sales dropped off a cliff.
The leadership team began talking about introducing new boat models and looking for different ways to attract new customers. Instead, we encouraged them to invest in the things that had made them successful in the first place. We recommended spending less on new brochures, photography, and other marketing materials and putting more of those resources into retaining their best craftspeople and building even better boats.
They followed that advice. While many boat manufacturers struggled and some disappeared, they held their own through the downturn and came out the other side with a stronger reputation for building exceptional boats.
The experience reinforced an important lesson.
There are times when a company needs to rethink its strategy. Customer expectations change, markets evolve, and a different approach becomes necessary. Those decisions should be based on clear evidence and a deep understanding of the customer, not the pressure of the moment.
For many organizations, the place to start is by listening more carefully to their customers.
Ask what’s changing for them and what they’re looking for now. Those conversations often uncover opportunities that aren’t visible from inside the business. Then look at the products and services you already provide and ask a simple question: where can we become better?
I’ve seen organizations come through difficult economic periods in better shape than anyone expected because they didn’t allow short-term results to pull them away from a strategy that was fundamentally sound.
Pressure has a way of making every decision feel urgent.
That’s precisely when leaders have to slow down enough to separate emotion from the facts. When the evidence supports the strategy, your responsibility is to commit to it with confidence so your team can do the same.
Organizations are expecting more from the people they bring in to speak.
A strong keynote still matters. But leaders are also looking for practical tools, planning support, useful takeaways, and someone who understands the pressure behind the event.
John Spence was named the 2026 Thinkers360 Thought Leader of the Year. He does not just walk on stage, deliver a keynote, and leave. He works with you as a trusted partner from the first planning conversation through the final follow-up.
