►Enterprise Survival and Revival◄
The President of a nearly 500-year old Italian company east of Milan shared with us early last week, “L’Italia come piatto di Petri per il Coronavirus mi preoccupa molto.” Translated to English that means “Italy as the petri dish for the Coronavirus troubles me greatly.”
A senior manager within another client company shared with us 3 days ago, “Our leadership team is freaking out over all this.” Translated to enterprise failure that means “Nobody is leading.”
Through our current work with 8 client enterprises to ensure business survival during and after this pandemic we observe that the Coronavirus is in fact providing the business solution to its own trail of destruction. All you need to do is notice it and utilize it in its binary form of 0’s and 1’s.
Just as the people early to the grocery store toilet paper aisles captured all the toilet paper, the enterprises who are now readying their simple survival and revival recipe will endure and thrive as the Coronavirus is defeated.
About 23% of your executive and employee populations as the 1’s will power your company’s survival and the other 77% as the 0’s will either slow it or prevent it. As you probably know “slow” is fine only when cash flow is typical.
The secret sauce of enterprise survival now includes only pared spending, keeping the wings level during this lengthy turbulence, and re-thinking how your business will operate without knowing how long these troubles will last. Accepting that it will likely be for a lengthy period is the non-negotiable price of admission.
For individuals and enterprises disaster survival results largely from confidence, coordination, energy, intelligence, optimism, singular focus and inability to be distracted. Think Ernest Borgnine as Mike Rogo in 1972’s movie “The Poseidon Adventure”.
The Coronavirus has created many distractions most of which have already led and will continue leading to outcomes not in the best interests of businesses, their employees, their vendors or their customers. Almost one-quarter of your executives and employees have remained committed nearly exclusively to your business mission during recent events while three-quarters or slightly more of your executives and employees have become non-beneficially rerouted from business mission to a subject they have no expertise with. In their imaginations this is the Coronapocalypse and in many of their minds it likely leads to the end of times.
The purpose of this publication is to assist you in knowing who your survival/revival contributors on that smaller team happen to be. They have been and will continue to be most of the horsepower of your enterprise, and the Coronavirus real-time Assessment Center now in place within your enterprise will affirm that.
A STARK REALITY-
Any business or industry where human contact is its foundation is being decimated. In many cases, it makes no sense to keep operating with little or no cash flow according to many CEO’s recently interviewed by the business press.
Enterprises with high levels of debt, poor customer or employee relations and/or those that were struggling prior to the Coronavirus outbreak are now in grave danger, and the more they are distracted by the Coronavirus from their enterprise mission the more likely their futures range between gloomy and non-existent.
It appears to us that airlines, energy companies, entertainment and gaming enterprises, hotels, leisure industry players, and retailers will in many cases be the first casualties. Even new movies will also now be delayed by either months or years.
If you are a key enterprise leader within any business your primary job for the next 3 to 15 months is to keep your employer alive so employees and customers will have jobs and suppliers to return to when this is all over. To accomplish this requires astute judgement as to who is contributing greatly and who is not, and only the approximate 23% will keep your business breathing while then authoring its recovery at an unknown future date most likely during the first two months of 2021.
Within your enterprise now exists a real-time, highly valid and very reliable Assessment Center that you are luckily not paying a consulting firm for. As your real-time Assessment Center sorts the 23% producers (1’s) from the 77% marginal contributors (0’s), the answer key for who your enterprise A-Team players now are and are not is summarized here:
- The employees and executives, even while working remotely, who remain immediately responsive on all business subjects to all other employees, all customers, all regulators and all vendors 5 days per week, both by telephone and Email. This includes answering the company provided cell phone whenever it rings, with no inbound communications awaiting response at the end of each business day.
- Those employees and executives who are more energetically driven to stay in business and stay employed than they are distracted by the fear of losing their jobs and paychecks.
- There are job duties that cannot be done from home such as manufacturing, retail sales and caring for patients, so make note of employees and executives who under such circumstances energetically accept that fact without requesting or demanding remote work or vacation arrangements.
- The employees and executives who still come to work, perhaps with butterflies in their stomachs, but also with fire in their bellies. People with fire in their bellies are consistently happier and more productive in life and on the job than those without those fires burning.
- CEO’s and executives are not expected to be as right as they are required to be engaged. Only those who remain fully engaged will create survival and revival, and the others will dramatically reduce chances of success. If executives do not remain highly engaged during nerve-wracking times, employees in their shadows will not do so either. In other words, executives who are 0’s breed employees who are 0’s and that virus spreads even faster than the Coronavirus. It is also much more deadly to businesses than the Coronavirus is to humans.
- The leaders who deliver bad news directly, with eye contact and without pause, and the recipients of that news who maintain their professional commitments and demeanor’s.
- The employees and particularly the executives who are seldom distracted by extraneous subjects. They know what and who to ignore and are also masters of disaggregating all mandatory objectives from all tangential distractions.
- Because commiserating about Coronavirus is like comparing the result of the 2019 World Cup to the result of the 2022 World Cup today, 2 years in advance of 2022, you will observe that your 1’s will spend very little time commiserating about the Coronavirus or anything else for the foreseeable future.
- You’re 1’s accomplish nearly everything very fast, a crucial attribute during times of reduced staffing. In so doing, the Coronavirus cannot catch them.
Pandemics kill some people. But they are also exceptionally effective at separating leaders from managers, contributors from those who contribute little, and your 0’s from your 1’s.
Freaking out never leads to survival just as running from a grizzly bear never works except for the purpose of the bear’s dinner.
We encourage you to know and remember the names of the people in your enterprise who are not running from the Coronavirus grizzly bear as they will create the least expensive and most successful future for your enterprise during this pandemic and after it is behind us.
They should also be the executives and employees who remain after any necessary downsizing’s occur.
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