As I speak with my EMyth clients, I often begin with this quote from John F. Kennedy, “In a crisis, be aware of the danger-but recognize the opportunity.”
Yes, there is no sugar coating the negative impact of the Coronavirus. It is a crisis.
By definition, a crisis is when a circumstance, situation, or sequence of events, reach a turning point for better or worse.
There are many examples of how systems have been built to endure a crisis. For example, the human body has systems that go into action when a situation dictates. It could be an adrenalin rush or a rapid development of white blood cells.
When you view your business as a system of systems, it should include responses for a negative crisis.
This should include triggers for implementing short-term strategic decisions and actions for executing these decisions.
Many of my clients have had a framework in place for a crisis although no one, myself included, anticipated one as “unusual” as what we are now facing.
Therefore, with every client, we discuss:
- The current impact of this crisis on their business.
- The needs of their employees.
- The needs of their customers.
- Strategy for the short term.
- Strategy for the long-term future.
I remind every business owner that this crisis is giving them both the opportunity and responsibility to lead. They should not abandon their foundation and ensure that whatever actions they take must reflect their values and their brand.
Think like an entrepreneur – hold the long view so that your present actions move you forward. Here for you if you need me!
-Stephen
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