Throughout the COVID-19 crisis, we’ve seen so many companies and leaders rise to the challenge. Shifting, adjusting and gaining both reputational and digital acceleration points along the way. We aren’t in the clear yet, and sadly, for some, it will take quarters and perhaps years to climb back to where they were in early 2020.
As we emerge as new leaders, companies and humans, there are important questions to ask: How can your company uncover the secret sauce to reimagine the way you drive growth as an organization? How can your company continue to build resilience in ever-changing contexts? Answers to these questions will provide the roadmap to your own “What’s next?”
Operate at two speeds: mine the current business while preparing for what is next
Businesses today must consider new customer perspectives, rethink internal and external value propositions and accelerate digital transformation, across their enterprises. While doing so, they must operate at two speeds.
The first speed must be a commitment to operate at lighting speed to stabilize your market position. Successful companies are doing this by leveraging customer insights, category analogs and both existing and new market data to inform every decision. They are ramping up scenario planning for employees, customers, leaders and brands. In each scenario, they are finding a series of “no-regret moves” they can double down on immediately, without having to wait to see what the next chapter will look like. . In short, they aren’t standing still or pausing, but are continuously innovating to survive and thrive in dynamic environments.
The second speed is all about reimagining the future – one that will help your company transform; from the overall business model, to your customer base, to talent and culture, to brand. In this speed, companies are exploring new ways of working, new business models, new partnerships and new operating infrastructures. They aren’t waiting to build their next three- or five-year strategy. Instead, they are acting with purpose, intentionality, open mindedness and enhanced collaboration to help them create their longer-term strategy, with “right-now” implications.
Disruption will always happen. However, if approached with a “reimagination” mindset, they can present incredible opportunities to accelerate your organization forward.