Strategy planning in a time of chaos

Excellent article from (c) McKinsey & Company that exemplifies the logical process we follow when we're helping our clients with their strategy planning in these most unusual times - strategic planning in a period of chaos.

I thoroughly recommend reading their article, but what jumped out for me were the five steps .. now their headline words may be different from that which we use, but the essence is the same - and with due respect to McKinsey, I'll use their SHAPE acronym (even though I think they're "stretching it" with some of the words)

S = start up mindset. Remember those days when you just formed the business, you weren't bogged down with research and analysis, but focused on action. Yes you need a plan, but basically, get on with it.

H = human at the core. Our businesses depend on the team that we work with and depend upon; play to their strengths, and if managing your business in the "new normal" requires that new colleagues come to the fore, that's fine too.

A = accelerate tech. We've already seen that the nimblest of companies have already pivoted to online / tech based service; what is it that you can and must do, to operate effectively in the "new normal"

P = purpose driven. The essence of this is not new - it's being focused on the customer, but be very aware of how the customer wants to engage with you - have clarity of how the engagement and service delivery must work for the client to be comfortable.

E = ecosystem to drive adaptability. Their acronym is really struggling here isn't it! Adaptability is not just how you deliver the sales and service engagement, but think about your suppliers, trading partners, potential JV's with others around you

We use the phrase of "new normal" and in truth, none of us know what that will be, but as entrepreneurs, we need the mindset and work structures in place that will allow you not only to survive in this new environment, but if you have applied yourself, and have established the right attitudes, mindset and team approaches, you can flex and react to whatever the "new normal" becomes.