Things will never be normal again – and never were

The headlines of today routinely discuss the unprecedented, tumultuous circumstances that businesses find themselves having to operate in. This is for good reason – geopolitical tensions, market turbulence, tariff uncertainty, and instances of economic stagnation have rightfully drawn attention from business leaders and investors across the globe.

However, much of the discussion is focused on short-term ‘survival plans’ for how institutions can manage themselves in a hostile environment. You will find strategic advice on resilience, on how to ‘outlast’, and ‘manage’ these difficult periods.

Much of this advice is well-founded and will benefit businesses that heed it. But here’s the deal; the discussion makes the fundamental mistake by assuming that these periods of turmoil are temporary – that, if a company waits long enough and battens down the hatches, calmer waters will inevitably appear.

Anyone who works in the dealmaking knows that this is often not the case. Whilst businesses are right to remain optimistic for the future, they are wrong to bank on anything ‘returning to normal’. Things will never be ‘normal’ again – and arguably they never were.

The only constant is change

The specific circumstances causing turmoil or periods of chaos today may be novel – but turmoil and chaos certainly aren’t. Upon close examination, you will find that there has always been an element of conflict, upheaval and complexity.

A business leader who waits for perfect conditions to arrive before making their move may find themselves never moving at all. My own personal journey has dramatically informed my view of this; I ran a successful headhunting business during the 2008 economic crash and founded GLAS when global economies were still reeling in 2011.

I’ve learned that the businesses that prosper aren’t the ones that wait for stability that may never arrive, but those that learn to thrive through volatile periods.

Responding to never-ending turmoil

Even rolling periods of uncertainty have peaks. Moments when an issue comes to a head in a way not previously envisioned, potentially changing things permanently as a result. The 2008 financial crisis, the Brexit referendum, and COVID pandemic all serve as recent examples.

When a moment of maximum uncertainty hits, our first instinct is to hunker down. This may look like different things to different companies, but could manifest as a pause on recruitment, delaying of investment, pushing back on creative projects, and cash-conserving methods. While caution is sensible, paralysis is not – and businesses often forget that it’s possible, and vital, to be prudent without being stagnant.

Instead of overcorrecting, leaders must assess their circumstances as much as possible, and difficult circumstances are a great way to re-focus your objectives. Hard questions can, and should, be asked. What company do you fundamentally want to be? What will set us apart from our competitors? And, maybe most important of all, how will our response define our business identity?

Carving out your channel

When GLAS entered the debt administration space, it was a market dominated by large banks, and we needed to prove our value. Market parity was never our goal. Instead, we set ourselves apart by always saying yes – no matter the type of deal, complexity or size, we made a commitment to figure it out.

Companies in some sectors may not be able to apply the same mantra of ‘always saying yes’. But they must have a driving principle to that effect – something that emerges from a period of turmoil, something that sets them apart from others, something that will continue to serve them in the future despite what may be raging around them.

What this looks like will vary from sector to sector, company to company, and person to person. But the same base principle applies to any founder. Whether you’re a fintech, a sports brand, or a local convenience store, owning your niche isn’t about limiting yourself; it’s about building credibility, resilience, and recognition in a space where you can genuinely lead.

Facing the unknown

Too many founders are still asking themselves, “what if things calm down?” or “how do we just get through this? The truth is that this isn’t a storm to wait out; it’s a new climate to operate in.

Turbulence is inevitable, but stagnation isn’t. Those who learn to see disruption not as danger but as a necessary catalyst for opportunity may find themselves defining the next cycle – not just surviving the present one.

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