Picture by Tetyana Pidkalyuk
How to dominate competitors and create opportunities for growth.
Aug. 10, 2026-
Do you remember when J.P. Morgan CEO and prominent Democrat Jamie Dimon once said the Trump economic policies the economy would continue to roar in growth we haven’t seen since Ronald Reagan’s Administration? Under President Reagan, the gross domestic product was consistently above 4 percent. During President Barack Obama’s eight years, the GDP was consistently 2 percent or less.
Citing a spike in business confidence and consumer sentiment in polls after the election of President Donald Trump, Mr. Dimon said the president’s agenda awakened “animal spirits” in business. Indeed, prior to the pandemic, the four years under President Trump led to the best economy in history. Then, President Biden’s policies nearly destroyed the economy (see these analyses).
Under the second Trump Administration, the Bureau of Economic Analysis reported the real gross domestic product expanded at an annual rate of 1.5 percent in Q2 of 2026. That was down from a 2.1 percent increase in the first quarter.
In another barometer of economic growth and Americans’ confidence, the Dow Jones Industrial average in Q3 has soared above 54,000 this year compared to its finish in 2024 at 42,544.22. So many businesses are again thriving and other companies might still have greater opportunities to succeed as leaders in generating capital. However, many companies have been mired in a zero sum game by merely staying alive by taking market share from competitors, and not by innovating.
However, many companies have been mired in a zero sum game by merely staying alive by taking market share from competitors, and not by innovating.
In reality for you or any company to dominate the competition, it is best to create new opportunities for growth. This will only be accomplished if a company’s culture is positive and every employee acts as an enthusiastic team member. For that to occur, leadership is required.
Yes, a positive leadership quotient is important for businesses to compete successfully.
Here’s a quick checklist:
1. Budget time for “blue sky” planning.
Imagine how your company can become a market leader.
2. Review your strategic mission and plan.
Set priorities and communicate them. The biggest single complaint that employers have mentioned to me – their employees fail to see the big picture. Find ways to communicate your values on a regular basis. Explain to employees how their roles contribute to your company’s overall success.
Find ways to communicate your values on a regular basis. Explain to employees how their roles contribute to your company’s overall success.
3. Motivate.
Make certain your supervisors are motivated and aspire to be leaders. They need to know the differences between leaders and mere care-taking managers.
4. Be authentic.
Be open in your communication, create a climate for honesty to deal with mistakes, and listen. Drive clarity and promote accountability. Position yourself to profit from employee respect.
5. Bring your employees together for collaboration.
Invite them to contribute their perspectives. It’s amazing how many problems are solved and profits are created by listening to workers – where the “tire meets the road.”
6. Simplify processes.
Nurture your employees. Understand their desires, passions and talents. Give them confidence to accept challenge and to reach their full potential. They will propel you and the company upward.
Nurture your employees. Understand their desires, passions and talents.
Also, remember that there’s a definite link between financial performance and succession planning.
7. Create a fun environment.
Keep focusing on the positive. Engage your staff regularly.
8. Keep yourself moving forward.
Learn how to deal with incompetent people.
9. Innovate.
Stretch and grow by understanding how and where you need to mature personally to become a top innovator.
10. Monitor your progress.
Keep fine-tuning your culture. Keep an open mind. Look for ways to evolve and innovate.
Conclusion
So, it’s worth remembering you will drive business profit if you succeed in key priorities. Boost your employee productivity, increase customer satisfaction and align your operational strategy with your financial goals.
From the Coach’s Corner, editor’s picks for related reading:
Why Companies Fall into the Management Lawsuit Trap — News headlines continue to show there are a myriad of ways managers set themselves up for lawsuits. Small and many big companies are ripe for EEOC complaints. The majority of lawsuits targeting management usually stem from a half dozen poor practices. You’ll get into trouble using these six bad practices.
HR Management: Think Like a Sales Pro to Recruit the Best Talent — One-size-fits-all approach to recruiting employees is not a strategy. You and your peers in human resources might be enamored with technology, but job candidates want more focus on the personal touch. That necessitates thinking like a sales professional.
Classic Red Flags You’re about to Lose a Sale – How to Save It — You’re in the hunt for new business. You’ve done your research about a prospective anchor client. You’ve had some preliminary discussions. Now, you’re seated with the person and making your case. But will you seal the deal?
“No institution can possibly survive if it needs geniuses or supermen to manage it. It must be organized in such a way as to be able to get along under a leadership composed of average human beings.”
-Peter Drucker
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