Has your strategy just gone out the window? We hear you and we have you covered!
In unprecedented times, strong execution must be top priority for all businesses.
Here’s why. Businesses that have already executed with speed and pivoted are either seeing the rewards, or have taken measures to reduce the impact on their business.
We are even seeing some inspiring collaborations and innovation emerging from businesses who are acting swiftly.
Many businesses have been hit hard by COVID-19, however, others (such as medical, food and cleaning – and don’t forget loo roll companies!) are experiencing exponential growth. In all instances, businesses are under pressure to execute fast.
Here are the steps you need to take now to double down on your execution:
Businesses need to quickly pivot to the new circumstances we find ourselves in. Excessive planning and strategising won’t work as things are changing by the day and that strategic plan will be out of date by the time it is finished.
This does not mean do not plan. It means now isn’t the time to over think it or wait until the plan is perfect in order to execute.
Take a leaf out of Tony Robbins: “Never leave the site of a goal without first taking some form of positive action towards its attainment. Right now, take a moment to define the first steps you must take to achieve some goal.”
Things can feel very overwhelming at the moment and many of us don’t know where to start. Just take your first step and the rest will follow.
Speed is also critical when it comes to communicating with your customers. It is vital to provide relevant and clear updates. In some cases, the lack of communication is compounding the issue and resulting in a negative customer experience.
You might be about to take a detour to your destination. The end goal does not need to necessarily change, but the path to get there most likely will. Be open to new ideas and ways to serve the emerging needs of your customers. This may bring a healthy dose of innovation to your business and strengthen the community you serve.
Here are some companies both small and large who have already pivoted:
- Urban Rituelle: An Australian Small Business, and one of our clients, developed a hand sanitiser in record speed and went to market within 48 hours.
- Pub: A pub in my parents’ village have opened a home delivery service and have been inundated.
- Louis Vuitton:have repurposed their perfume factories to make hand sanitiser!
- Gyms: Multiple gyms have started live streaming classes. Sweat with Kayla Itsines have re-created 3 programs in within 24 hours to be #BBGHome with less equipment needed.
- The Execution Zone: Within our business we have changed all of our workshops to virtual workshops and we have released a free membership model to support businesses at this time.
Pivot now, don’t wait.
This is the time to step up and lead:
Our teams, colleagues, families and communities need people to step up and lead.
How you lead now will make a difference both internally and externally to your organisation.
Good to Great by Jim Collins showed the common denominators of “Great companies” were “level 5 leaders” and who “confront the brutal facts but never lose faith“.
The short version of this book is that both the good and the great companies had challenging times, multiple crises and variable market conditions, but great companies still succeeded despite hard times.
“Level 5 leaders display a powerful mixture of personal humility and indomitable will. They’re incredibly ambitious, but their ambition is first and foremost for the cause, for the organization and its purpose, not themselves. ” Jim Collins
This is your opportunity to lead.
“Focus on the wildly important” is one of the 4 Disciplines of Execution by Franklin Covey.
We need to focus on what is of critical importance and at risk of not happening due to the “whirlwind” of the day.
To stay focused limit your exposure to some of the hysteria and media outlets which will lead to overwhelm. As Dr Kristy Goodwin (Digital Wellbeing Expert) says put a “fortress around your focus.”
Focus on what you can influence and things you can do to move the needle. Find the silver lining for you in this situation.
“If we have the courage to ignore the ‘prophets of doom’ the best opportunities come in times of maximum pessimism.
If we focused on that advantage, we’d feel very differently, wouldn’t we?
Consider the Pareto principle, what 20% of activities will get 80% of your results?
Both Bill Gates and Warren Buffet credit their success to focus. That has to be the best reason I’ve heard to double down on your focus.
If you need additional information and/or support, we are offering a free membership for all Australian businesses with resources to manage the COVID-19 crisis. Please visit: WELCOME.THEEXECUTIONZONE.COM or Instagram @TheExecutionZone for more information.