Get Ahead and Stay Ahead Decision-making in times of crisis.
Global Agenda
1 The ’Brick Wall’ – COVID-19
2
3
The POWER of the PAUSE
The 5 key components of decision-making in times of crisis
4 The PIVOT
5 Lessons learnt that will forever change how you do business
Context is everything……..
• COVID-19 is probably the biggest challenge your business has and may ever face! • We can compare the experience to hitting a “brick wall” at high speed. • Your business can survive the crash, and, with the right strategy, come out AHEAD.
Why continue listening to this Webinar? • It’s a free business coaching experience that may offer a new perspective; • You, like so many other business leaders, are overwhelmed with issues and decisions to be made; • You are looking for a process to help you develop the right strategy for your business; • You want to feel confident that you are making the right business decisions; and • You want to move AHEAD and stay AHEAD of the curve.
So your business hit a ‘brick wall’ • No one saw it coming. • It stopped many businesses dead in their tracks. • Everyone is speculating amidst uncertainty about what lies AHEAD. • Everyone is looking for a way to get through the brick wall. • Not everyone will make it through unscathed. • With the right strategy you can get through, andemerge on a growth trajectory.
COVID - 19
Getting through the brick wall B Before COVID-19
After COVID-19
A C
D
THE PAUSE
Reframing the problem • The ‘brick wall’ is real, although invisible • Awareness of our stress response • Unknown territory • Recall other challenging experiences you faced and over-came successfully. • Recall the excitement and confidence you had while taking risk.
This Photo by Unknown Author is licensed under CC BY
The Power of the ‘PAUSE’ Often in business we choose to hit the pause button. Eg. Planning retreat, Team building A PAUSE can sometimes be the best choice for your business, strategy, and sanity. COVID-19 put us all on PAUSE.
If I don’t’ leverage the PAUSE Someone else will.
What are my competitors doing?
In the ‘PAUSE’ Leverage the PAUSE and Re-set / Re-think / Re-Act • Review and refine your business strategy; • Take care of some unfinished tasks; • Get a project up or jump start one; • Systems improvement / set up; • Manage energy and stress.
5 key steps to get through the ‘Brick Wall’
1. 2. 3. 4. 5.
Vision - creating focus and clarity Asset Management - what is the value of your resource base? Leverage – maximize the potential of your assets Undertaking – committing to the process Expectations - how you want to feel
Step 1 Your Vision Getting back to the ‘WHY’ • Re-setting and/or reconnecting to ‘why’ you are in business and want to continue • Has your vision changed because of COVID-19? • Will your vision meet market demands POST COVID-19? • Does your business model align with your vision?
• Take stock of all your assets • tangible and intangible
Step 2 Asset Management
• What are your core assets? • What are you known for in the marketplace? • What are these assets worth? (before COVID-19 / during / after) • Do you have any gaps that need resourcing? • Liquidate ‘no value’ assets
Step 3 Leverage Have you maximized the potential of your asset base? You may have hidden assets that can add value to your business. Eg UK cleaning co. Consider positioning, pricing, innovations, marketability of your products and services
Step 4 Undertaking
What aspects of your business needs attention and will add value? What can you commit to during the PAUSE? • Training? • • • • •
Sales strategy? Product or service design? Production line? Delivery systems? Client services?
Short-term – entering the ‘brick wall’; unfamiliar, lots of challenges, slow movement, feelings of fear and anxiety
Step 5 Expectations
Medium-term – moving though the ‘brick wall’; acceptance of change, less struggle to move, know that you will get to the other side, may feel disillusioned PIVOT? LEVERAGE? Long-term - exiting the ‘brick wall’; elation, acknowledgement, resolve, opportunity to move ahead quickly VISON ROLL OUT
Inside the PAUSE : Many businesses have chosen
to ’pivot’ and take advantage of business opportunities as well as keeping cash flowing during COVID-19 lockdown. LEVERAGING THE PAUSE
THE PIVOT
After the PAUSE: Roll out your business strategy and PIVOT based on your contingency plans.
LEVERAGING the PAUSE creates agility in your business which will accelerate your overall business performance.
Check IN and Take-Aways
Lessons learnt that will change the way we do business..
We have all had unique experiences of hitting the ‘brick wall’
Sharing experiences is a powerful way of creating cohesion and synergies
PLEASE RAISE YOUR HAND TO OPEN THE DISCUSSION