CSO Cody Harvey of Kennected is Reframing the Bear Market
Tech CSO Cody Harvey of Kennected is reframing the bear market of 2023 as an opportunity for growth.
“We are hiring and experiencing a consistent surge of product advancement. When the market zigs, we zag.”— Cody Harvey
INDIANAPOLIS, INDIANA, UNITED STATES, January 5, 2023/ EINPresswire.com / -- With the bear market in full swing, tech CSOs like Cody Harvey of Kennected are reframing market volatility as a space for opportunity. A bear market is commonly defined as a decline of at least 20% from the market’s high point to its low. The financial doom predicted in 2023 is widely escalating as 2022 caps off a challenging economic year.
Harvey understands with laser focus that downturns offer discounted opportunities to foster growth. As evident by layoffs and cutbacks, many companies embrace a scarcity mindset. Yet, emerging business leaders like Harvey are prepping themselves for 2023.
While the tech industry has been hit with thousands of layoffs, many rising companies are experiencing expansion. Most recently, Meta announced an 11,000-employee cut, and Twitter is taking action to reduce its workforce by about 3,700. The proverbial “blood in the streets” creates opportunities for rehabilitating minimal viable products and the ability to capitalize on fresh talent.
“While other businesses are scrambling to trim the fat and minimize expenditures, we are expanding,” states Harvey. “We are hiring and experiencing a consistent surge of product advancement. When the market zigs, we zag.”
Harvey and his partner Devin Johnson are clear on their vision and are reframing the bear market as a “discounted market.” The opportunity to capitalize on talent is exponential. Harvey emphasizes that downturns in the business cycle are expected, and businesses need to be prepared.
According to Fidelity.com, bear markets are historically shorter-lived than bull markets, and both are regular parts of investing. US stocks have endured 26 bear markets in the past 150 years. History shows that bears appear with steep drops in stock prices, but their behavior after their arrival varies in terms of how long they stay. Some bear markets have lasted for years. Others, like the one in 2020, lasted a few months.
This increase in business expansion can be a natural byproduct of a discounted market. Harvey emphasizes that auditing your current business plan offers a new perspective on acquisitions and expenditures.
“Excelling in business is not a linear path. Being prepared and having a forward-thinking vision is what sets excellence apart from mediocre,” Harvey adds.
Julie Lokun, JD & Conner Tighe