When markets shift, many CEOs adopt a dangerous mindset: Let’s wait and see. On the surface, it feels prudent, even safe. But hesitation quickly becomes the costliest default in leadership—a form of self-sabotage and an expensive compromise.
Economic shifts don’t pause until you’re ready. By the time you’re confident the upturn is real—or the downturn has arrived—it’s too late to act decisively. Competitors who moved first have already secured the best opportunities. And you’ll be left wishing you had not waited.
Don’t be that person.
Why Waiting Backfires
The problem with waiting is that it feels cautious, but it’s just choosing comfort over action. It’s easier to delay than to risk a misstep. Can-kicking is the loser’s national pastime, best illustrated in the “I coulda hadda V8” commercial. Inaction also carries hidden costs, including lost market share, missed opportunities, weakened morale, and a decline in both internal and external confidence among CEOs.
As my dad, “Big Red” Sparrow, used to say, “He who hesitates is lost.”
Three scenarios where hesitation hurts most:
-
Recovery: By the time you’re convinced growth is “real,” others have already captured low-cost investments, rebuilt their teams, and launched new products. You’re playing catch-up. No bueno.
-
Accelerating Growth: Business feels effortless. Demand is high, and you are killing it! Success becomes a wayward seductress of the CEO who falls prey to the Midas Touch of surging volume. Those who wait to build cash reserves or strategic capacity get blindsided when growth slows. And growth invariably slows. What goes up always comes down.
-
Recession: Delay is deadly. Companies that wait too long to cut costs, reinvest wisely, plan and train their workforce for the Recovery, or seize distressed assets often find themselves too weak to rebound.
The Alternative: Proactive Leadership
The best CEOs don’t need perfect foresight. They need courage to move early and decisively, guided by data and discipline.
Practical action steps:
-
Track leading indicators – Use 3/12 and 12/12 rates of change to anticipate, not just report.
-
Invest early in Recovery – Upgrade technology, train your team, and rebuild capacity while costs are still favorable.
-
Bank cash in Accelerating Growth – Enjoy the exhilaration, but build reserves for the next downturn.
-
Stay disciplined in Slowing Growth – Focus on your most profitable customers and shed distractions.
-
Play offense in a Recession – Acquire, renegotiate, and strengthen your market position while competitors retreat.
Bottom Line
In business, indecision is still a decision—usually the wrong one. Doing nothing may feel like a safe bet, but it’s actually the costliest move a CEO can make. Let’s be honest, “wait and see” is nothing more than can-kicking indecisiveness, the first cousin of doing nothing.
Doing nothing is not a viable strategy.
Your competition is probably waiting too. The question is: Will you be the one who moves first—or the one who wishes you had?
