As lockdown hit I helped clients develop an interim strategy. For one business it was very simple, ‘to survive so that we can come out the other side stronger knowing that some of our competitors won’t survive’
The strategy was simple and clear and like all good strategies it drove priorities. They slimmed down their team dramatically, they were diligent with cash and questioned all of their outgoings, restructured their finances and pivoted the business towards digital to generate at least some income.
Their execution was relentless. Constantly communicating the plan to the team and holding regular and focussed meetings, meant that everyone knew what they were trying to achieve.
The business is over 50 years old but the business we see today has reinvented itself. It has developed a new, lean, digital business probably 5 to 7 years quicker than it might have done without the pandemic and put clear water between itself and its competitors, many of which are no longer in business. It now owns the market in a way that it couldn’t before.
As we prepare to come out of lockdown the business is smaller and in much better shape. It is now time to rethink the strategy knowing as we do the benefit of a simple, clear strategy and rigorous execution.
There are lots of challenges in the world but a business that is run well can benefit the world more than almost anything else, creating purpose, dignity, and wealth in honest and worthwhile work. If you would like to significantly improve your business performance and expand your thinking please reach out. firstname.lastname@example.org.
Doing good by doing well.