A WAY FORWARD…DEFINING THE FUTURE IN THE MIDST OF CHAOS

Vision is always a vital element in business and a primary obligation of leadership. Now, as we find ourselves in a significantly disrupted environment, vision is paramount.

Virtually every part of a company’s ecosystem has shifted, seemingly overnight. Supply chains are broken. Customers have departed without paying the bill. You have been pushed to reduce headcount and rethink organizational alignments. Your Board members are nervous and calling too often.

In short, the business environment that you discover around you when the pandemic departs, will likely be very different from what we knew a few months ago.

DEFINE THE FUTURE BEFORE IT ARRIVES

Wise leaders are shifting gears right now. Those in the business dealing with the immediacy of the crisis should continue to do so. However, the CEO, CFO and perhaps one to two others need to look up and out. Create the three-year view. This becomes the shiny house on the hill. That vision will be invaluable for three reasons:

·      It will influence today’s actions

·      It will help you define areas of focus for the second half of 2020

·      It will provide a guiding star for 2021 strategy

Senior Executives are advised to dedicate roughly 10 percent of their time on a weekly basis over the next 2-3 months working on the future. Challenge your senior team members to bring you bold ideas regarding business model, supply chain, customer engagement and new alliances. Don’t be shackled by status quo. Muster the courage to abandon past beliefs and customs. It’s a different world now.

Get outside the company’s boundaries and solicit input from customers and suppliers. Learn about what is changing within your customers’ businesses and how their operating model has been disrupted. This knowledge will influence your R&D efforts and product road map strategy.

CONNECT THE DOTS

Once you have a clearly defined three-year view, return to the current condition and map out 90-day tactical actions. Adopt this quarterly approach to execution, using milestones to track progress.

This proactive approach to emerging from the crisis will energize your people and displace fear with hope. Undoubtedly, people in the business are looking to the leaders for answers…and for a glimpse of a future without COVID-19.

Every CEO and Board are wrestling with the existential challenges thrust upon us by this pandemic. We cannot minimize the brutal impact on companies and individuals globally. While our instincts drive us toward triaging and margin preservation efforts, acquire the internal discipline to find time to thoughtfully set the Three-Year View and construct the strategic roadway that takes you there.

Leaders who guide others to manage the day-to-day and paint the picture of the future for all stakeholders will emerge from this disruptive period more confident, stronger and poised to regain the growth trajectory.