Leading in Times of Crisis/Guiding Principles of Leading in Turbulent Times

03/05/2020 08:46

Some advices and experiences collected from several key leaders as joining different webinars over the last week

For entrepreneurs the advice to build a strong framework to develop the successful biz in turbulent times

• Operational environment/know the context social, political, regulation in the environment/context where you aim to invest
• Memories of future / vision. Energy strong to take your biz forward/ambition
• Strategy choices you take to go to the market
• People/resources_ people balance sheet, quality of people you want/need. Development talent
• Execute and discipline to do it

Key behaviors (5) driving your biz as entrepreneur

- awareness to pick up signs of the market and the environment

- something deep inside of you to sustain you during the journey/inner fortress character guiding you to get you through time of crisis

- adaptability/flexibility

- not fight alone, develop networks in times of volatility

- courage /keep conviction (turbulent times are times of opportunities)

THE WORLD AS YOU HAVE SEEN SO FAR IS OVER.

TOP 3/4 KEY LEARNINGS

1. EXISTING SYSTEMS IN CRISIS DON’T WORK. WE MUST BE FLEXIBLE AND AGILE, CRISIS DOESN’T WORK IN BAU
2. ENGAGING WITH PEOPLE AROUND COMMS AND BEING VISIBLE, TRUST/BEING CRDEDIBLE/KEEP TOUCH WITH CUSTOMERS, AND PREPARE FOR THE DAY AFTER WHAT TO DO
3. POST CRISIS / FUTURE/ YOUR POSITON FOR AFTER CRISIS
4. YOUR OWN RESILIENCE IN FRONT OF THE CRISIS
5. PEOPLE REACT TO THE CRISIS BY INTERNALISING NEW REALITY / FEARS/EMOTIONS MORE POWERFUL THAN REASONS
6. LEADERS HAS TO SHAKE UP THE ORGANZIATION, TO LOOK FOR A CHANGE AND REDO THEIR PLANS/BIZ MODELS
7. MOST URGENT THINGS TO DO IS PROTECT THE PRESENT (PUT CASH WAR ROOMS IN PLACE / SAVE CASH / CASH DASHBOARDS/REPRIORITISED YOUR INVESTMENTS/NEGOTIATE WITH BANKS AND VENDORS) BEFORE LOOKING FOR FUTURE
8. LEADER MUST BE MORE OPERATIONAL THAN STRATEGIC
9. EXTREMELLY AGILE LEADER MUST BE THE GOOD ONES. THE WINNER AFTER THE CRISIS IS THE QUICKER
10. ENGAGE WITH ALL YOUR STAKEHOLDERS (CUSTOMERS, EMPLOYEES, VENDORS,..)
11. SCENARIO PLANNING, PLAN THE FUTURE. NO TIME TO COMPLETE A FULLY NEW SCENARIO. MUST RELY ON YOUR TEAMS/EXTERNAL ADVISORS AND EXPEDITE TO ACT /EXAMINE THE RISK BUT YOU HAVE TO TAKE YOUR OWN DECISION. 3 PACKAGES OF ACTIONS
    1. STOP THE BLEEDING. PROTECT YOUR CASH/P&L (VARIABLE COSTS VS FIX COSTS), ADJUST THE DEBT. PREPARE FOR THE WORST CASE ALWAYS AND DETERMINE HOW TO RESPOND (CASH POSITION)
    2. ACTIONS ALLOWING YOU TO BUILD RESILIENCE IF NEGATIVE SCENARIO TAKE LONGER. I.E DOWNSIZING (DO SOONER THAN LATER)
    3. BE PREPARE TO WIN. THINK STRATEGICALLY OF WHAT WILL BE THE NEW NORMALITY (M&A),. INVESTING IN NEW TECHNOLGY, DEVELOPING YOUR PEOPLE, ENHANCE YOUR HUMAN CAPITAL). CRISIS BRING WITH OPPORTUNITES AS WELL 
12. START PROJECTING SCENARIOS WITH ASSUMPTIONS. ‘WHAT IF’ OUR INCOMES CUT 50% AS WE DON’T KNOW HOW OUR REVENUES WILL BE IMPACTED AS WE DON’T KNOW HOW LONG AND HOW DEEP THE CRISIS WILL BE AND ASSUMING YOU DON’T HAVE PERFECT INFORMATION SO YOU HAVE TO HAVE THE COROUAGE TO DECIDE. YOU DON’T HAVE TO BE PARALISED BY ANALISIS AND MAKE DECISIONS AND RISKS BASED ON YOUR BEST ASSUMPTIONS
13. PURPOSES AND VALUES ARE CRITICAL DNA OF THE ORGANIZATION. IF WE WALK THROUGH CUT HEADS IS IMPORTANT TO PROTEC THOSE FACING THE CUSTOMERS/DEALING WITH THE CONSUMERS
14. IN A CRISIS YOU SEE THE BEST AND THE WORST PEOPLE CAN CONTRIBUTE WITH (SELF INTEREST OF SOME PEOPLE). 
15. SURVIVAL IN SHORT TERM AND SUSTAINABILITY FOR FUTURE (I.E OPPORTUNITIES).
16. AS A LEADER YOU HAVE TO TAKE CARE OF YOU HEALTHY, FRESH AIR TO MAKE RIGHT DECISIONS AND BE RESELIANCE
17. EXECUTE: CARE OF PEOPLE AND SEEK FOR CARE TO BE RECEIVED BY OTHERS, CONNECT TO THE TEAM OPEN TO FEEDBACK, SHARE VISION, CREATE ADVANCE SISTEMIC CHANGES IN YOUR ORGANIZATION (CREATE THE FUTURE). AS NAPOLEON SAID “FACE REALITY AND GIVE HOPE TO YOUR TEAM”

Back