Never Blame The Market For Underperformance

BusinessNever Blame The Market For UnderperformanceByBill Holmes,Forbes Books Author.for Forbes BooksAUTHOR POSTExpertise and opinions of authors published by ForbesBooks. Imprint operated under license. | Paid ProgramAug 21, 2026, 09:30am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.SummaryBill Holmes warns against blaming market conditions for missed sales targets, stressing the importance of realistic forecasting. He highlights the "pump and dump" danger of over-optimistic projections driven by external pressure, which often leads to business failure. Accurate forecasts, he argues, must consider numerous factors like product strength, market conditions, and team performance. Even significant market shifts, such as recessions, can be navigated by adjusting margins, as "margin elasticity" allows businesses to recover without losing market share. Ultimately, underperformance often signals leadership deficiencies, including poor recruitment and inadequate team management, rather than external market forces. Leaders must ensure achievable budgets and hold teams accountable.Show More Good leaders always have stronger management teams backing them.gettyAs soon as I hear one of my leaders in a sales review trying to blame the market for not meeting their budget numbers, the alarm bells begin ringing. This is because at the point we agree on our annual forecasts, I never try to pressure management to put forward volumes and margins that are unachievable, and I always try to put myself in their shoes and consider what I think I’d be capable of delivering. Obviously, the biggest guide to these numbers is the last 12 months’ performance, especially the current run rate, overlaid with the additional sales and marketing investment we plan to make going forward.Watch Out for Pump and DumpMany leaders in other businesses I have come across over the years have obviously not had this f...