Thoughts on Markets, Life, and Company Strategy

That morning sip of hot coffee. The 45-minute walk that you NOW have time to take. Time with your spouse, partner, and kids.

And if you're like me, you're finding yourself tapping into #LinkedIn more than ever. Seeing all the homemade videos, the companies coming out with positive culture and employee PR, all the contributions being made to #Covid19 efforts, and of course the uncertainty that looms with the burst of ever-changing news, numbers, and opinions.

So let me throw my two cents in, toward a number of areas that many of us commonly hold interest in.

MARKETS

We are in unprecedented times and humans have an immense desire to get and retain control. Especially when any loss taps into the possibility of shifting our 'safety needs' within of Maslow's hierarchy.

Recognize that human fear of the unknown is driving big swings in the markets. From individuals, but more largely from industrial buyers and sellers, who are the entities that really move the markets.

My advice is to let the VIRUS numbers lead the way - if and when you decide to dip back into the market. It's great that the Fed, White House, and Congress are helping to stimulate the economy and will eventually help at some financial level. But it likely won't be enough to turn this around until the virus numbers lesson.

According to White House advisor Dr. Anthony Fauci, Coronavirus could be seasonal...and it could also come in several waves. Perhaps it will also just be seasonal - lessening with the oncoming warmer weather.

?? One area I am going to be especially interested in will be if the government elects to lessen or remove penalties and/or taxes for people under age 59.5 who want or need to withdraw money out of their 401K plans. It may not be an issue now, but what about in 2 months when there are greater permanent layoffs and lessening of hiring back due to lower profits and less-than-confident guidance?

LIFE is about LIVING

I can't imagine or attempt to imagine some of the very real stress that's happening in people's lives and minds. If you are wealthy or have guaranteed ongoing income that will remain untouched, then truly, I am happy for you. It's easy to be jealous, frustrated, and start finger-pointing, especially during times of stress and loss - but these are times to focus on what we can control, change, and improve.

It's also a time where we are more around family, food, and the possibility of letting ourselves slip into a lower gear. Watch for signs of over-eating, less exercise, snapping at your family members, and your sleep patterns.

No one is altogether perfect and most of us are going to feel a very real squeeze. But we must recognize that at the times we feel helpless, frustrated, depressed, and anxious - these are moments TO BE AROUND people and share our fears and feelings. Pride and ego are very important strengths, at the right time and place. If they are fueling toxic behavior, thinking, and lack of good habits - they must be addressed properly.

Call others too! Connections on LinkedIn, extended family, friends, and people whom you haven't caught up with for a long time. I wouldn't call this situation a gift - but there is a sliver of silver lining to be considered in our relationships and ability to connect in a healthy, caring way - as human beings are meant to do.

COMPANY STRATEGY FOR NOW AND LATER

A pullback in spending is a common reaction amongst organizations during times of panic and uncertainty. Sure, cutting costs could be indicated for reducing risk and preserving strength over the longer term.

But companies must also be thinking about positioning beyond the virus. Strong business management and its underlying principles must be applied now more than ever.

For example, my industry is healthcare and especially focusing on health systems and payers. These segments are naturally driven by revenue, but in an age of increasing healthcare consumerization in healthcare, company culture and having effective lines of two-way communication must also be valued in decisions.

There's also the strong possibility of greater M&A activity and partnering between traditional healthcare players and non-healthcare organizations that are involved with where people work, live, play, and pray.

Asking questions about this crisis and post-crisis considerations are key. Some of these include:

• What is the possible negative impact of our decisions on customers, their loyalty and the likelihood of leakage?
• Will we lose impact on our longer-term goals, our reputation, the quality of how we conduct business, and the consistency with vision and mission?
• Which jobs and business segments can we shift, blend, or eliminate to still keep our culture, values, and metrics on productivity per employee and department?
• What are your competitors doing in terms of their decisions and strategy around marketing, finance, human resources, technology and equipment, and operations?
• Who are your competitor's biggest clients and strongest 'human' assets? How can you best establish ethical communication to both, in consideration of acquiring and hiring respectively?
• Are there divisions, products, technology and IP which may become available, both for selling off to, or acquiring from others?

The next 3-12 months will likely be of great impact on the health of ourselves, our finances, personal & professional relationships, and organizations. This is a pivotal time that we will remember, both in both how we persevered and also emerged from it. Many people and a good number of companies will likely not emerge better off in the immediate aftermath.

Take perspective by tapping into your strengths, weaknesses, relationships, and decisions you make in leading your life, interacting both personally and professionally, strengthening relationships, and bringing your very best to your organization and its people.

As I'm always open to listen to and learn from others - and I welcome your feedback.

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DR. STEVE AMBROSE is a widely-recommended healthcare subject matter expert with a deep understanding of payer, provider, and technology companies in the healthcare space.

He is now reviewing opportunities for a full-time role in strategy and efforts in customer/patient learning and marketing communication.

He's a former healthcare provider, serial entrepreneur, VP of strategy, 4x patent holders and healthcare media host interviewing top industry leaders.

Additionally, he developed a timely online L&D program for empowering individuals and employee teams to interact with greater shared civility and respect with differences.