The simple answer is: You navigate exactly like in all other situations!
But the horizon has become significantly shorter. And that then you must act differently as a company manager or owner.
Do you know the old story about two friends on a safari in Africa? They see a lion sneaking in on them. One says to the other: “Why do you put on your running shoes? Surely you can’t run from the lion.” To which the other responds. “I just have to run faster than you!”
There are several parallels that make this story count in the current situation. The competition has never been greater than it is now, and being able to run from competitors is more important than ever. It requires other tools than just a few months ago. Your horizon is shorter, and you need to navigate constantly. And it also requires an approach where you constantly evaluate the given parameters for your industry.
It can be difficult to let go once you have built a streamlined business, when you have to change the base. But it’s not your business processes and how streamlined everything runs in your business that determines your future success. It is your ability to uncover, understand and meet customer needs. This is the time for running faster than the others!
So dear business manager and owner. Look at your customers. The present and the future.
When the horizon is short, we can’t do as we have seen it done in countless companies. You set your goals for one or more years ahead – on all parameters. This is fine on the individual overall objectives. But the way to achieve these is by being agile and setting a shorter horizon on a wide range of goals. Before the Corona crisis, many believed that the road ahead was a highway that stretched as wide and as far as the eye could see. Now it is clear to everyone that the road is somewhat more cumbersome and filled with many obstacles.
Your ability to run from your “friends” is to anticipate these obstacles. You need to be able to navigate constantly and calmly, constantly moving the right direction. There are powerful tools that are fully structured to help you constantly be prepared for what obstacles you encounter on your path.
As in all other situations and crises, such as the current corona crisis, it also offers new opportunities. You need to be aware of when to grab these and when not to. It takes hard work and structured processes to assess these. And you need the right “running shoes” or tools.
Of course, nothing beats “pure luck”. But is this a chance you are willing to take? Or do you, like us at LSV Group, also believe that luck follows those who work to achieve it? Those who constantly look for opportunities and obstacles that will help them navigate going forward.
At LSV Group we have all the tools and experience you need to get help and support your navigation out of the existing crisis. That way, you make sure you can outrun your competition in the future.
We can help you lace up the running shoes, so you can run faster.