My friend, Paul, called the other day to trade thoughts on how the coronavirus pandemic was affecting the business world. While still deep into the crisis, he was thinking about the future of a company where he’s a board member and asking, “What happens on the other side?” Great question!
Is it too early to ask this question? For some, perhaps. For many, no. As I suggested before, if you’re running an organization (even if not obviously affected by the pandemic), you should be thinking about the future and how you’ll prosper in it.
Here are some questions you should start wrestling with:
- What have you learned during this crisis about how you should operate your business?
- Will your business model (the way you make a buck) need to change?
- Will anything change about your relationships with your customers, employees, partners and vendors?
- Is your supply chain still reliable?
- Are there new opportunities to profitably satisfy new needs?
- Can you shake off the understandably negative emotions and think logically about your business?
- What kinds of assets (e.g., physical, intellectual, people, capital) will you need?
- How can you help your team be excited and committed after coming through the storm?
- As a leader, how should you adjust your message, tone and behaviors?
I’m optimistic that what we’re experiencing now isn’t the new normal. I also believe that the future won’t be exactly like the past. So, what’s on the other side? Where do you go now?
Todd coaches CEOs to higher levels of success. He is a former CEO and has led teams as large as 7,000 people. Todd is the author of, Never Kick a Cow Chip On A Hot Day: Real Lessons for Real CEOs and Those Who Want To Be (Morgan James Publishing).