04:05 GLOBAL
A Rising Tide Lifts All Boats There is a saying that became popular after John F. Kennedy used it in the 1960s: “ A rising tide lifts all boats. ” Warren Buffett uses a similar analogy: “Only when the tide goes out do you discover who’s been swimming naked.” Taking this idea further, when the tide goes out, it is not only companies that are tested. Industries are tested too. In a growing industry, even average talent can be carried upwards. But when an industry begins to shrink, it is no longer only how good you are that determines your fate. The industry you are in matters too. When the tide goes out, talent matters. But the sea you are swimming in matters even more.
Warren Buffett uses a similar analogy: “Only when the tide goes out do you discover who’s been swimming naked.”
choose the right industry. Many boats rise together when the tide is rising. Because if you are in a growing industry, even average performance can carry you upwards. Many boats rise together when the tide is rising. But in a shrinking industry, things work in reverse. Even the most talented people may not be able to overcome the downward pull of the industry on their own. This is why, when planning a career, you should not focus only on the job you have today. You need to take a step back and ask yourself this question: “Am I in the industry of the next ten years?” Because sometimes what determines your career is not only how good you are, but which game you are playing.
46 I 04:05
GLOBAL PAYROLL MAGAZINE ISSUE 27
Made with FlippingBook - Share PDF online