Posts

Raise your hand if you want to relive the trials that 2020 has brought so far.

Think about the number and breadth of issues that businesses have faced this year:

  • Abrupt changes in how you conduct business or shutting your doors completely for a period of time
  • Letting good employees go to keep the business alive
  • Significant investments in technology and support for work-from-home arrangements
  • Leaning how to manage and engage remote team members
  • Changes to customer expectations and demand for your products and services
  • Charting a new path forward given much uncertainty

Any of those changes alone are significant challenges to address.  When compressed into a period of a few short months, they can be overwhelming.

While many businesses are still trying to recover, they can’t sit still.  Business owners must fearlessly look forward to what the future holds.  The trouble is no one can predict the future with any level of certainty.  So what are businesses to do?

They must have resiliency.  They must be able to withstand or quickly recover from difficult situations – because we may not know what challenges may come down the road, but we do know they are coming.  The ability to bounce back is easier for a company that has sound plans, that operates with little waste or excess that can creep in when times are good, and that truly understands their strengths and weaknesses.

The ability to live to fight another day looks different for every company.  For some, it means access to financial resources like savings or credit to make it through rough times.  For others, it’s the ability for their operations to continue without access to the company’s physical buildings.  Some businesses need to eliminate their least profitable products or services while some need to diversify their revenue streams.  Operating lean and doubling down on what makes your company unique can help you maximize your efficiency and your returns.

What steps are you taking today to prepare your company for the future?  How are you building resiliency?  If you are just beginning this process and need flexible resources to help you, contact us.  http://linkedin.com/in/cmatt or https://opalpg.com/contact-us/

In our bodies, our DNA is the genetic code that makes us unique individuals.  It contains all the instructions needed to build a complex, living, breathing organism.  DNA is the master of each cell and is passed on through successive generations.  Our DNA determines our physical characteristics, and damage to our DNA can cause problems that range from minor to catastrophic.

Your company has its own DNA – those things that make it unique, give it vitality, and must be passed on as it grows.

A business’s DNA is comprised of two components:

  • What we do
  • Why we do what we do

“What we do” describes our ideal customer – the customer we are uniquely set up to serve well maximizing the strengths of our organization.  It also answers the question “why do customers choose us?”  It is your market niche but it goes much deeper and understands why you can claim that niche.

“Why we do what we do” describes you.  It informs the entire team of the passion and purpose that led to the creation of your company.  It defines the values that are present in the organization and must be modeled and protected if the company is to survive and thrive.

Understanding your company’s DNA is the first step in building a strategic plan that works.  Your company DNA guides and defines everything about your business.  Make sure it is defined, known, and used to make decisions.

Many people are re-examining their businesses due to changes caused by technology and the health emergency.  If you want to build a durable, resilient business, your company DNA is your anchor.  It will keep you from drifting wherever the winds blow.  Knowing who you are lets you build on your strengths rather than reacting to circumstances.

Contact us if you need help mapping your company DNA.  https://opalpg.com/contact-us/

http://linkedin.com/in/cmatt

I’ll admit I’m a fan of survival reality shows like Survivorman and Naked and Afraid.  These shows are entertaining to watch and you can learn lessons from them too.  I find The History Channel’s Alone to be one of the more engaging ones.  The contestants aren’t just fighting the elements for their survival – they do it by themselves.

If you aren’t familiar with this show, individuals are put in remote locations where they will have no contact with any other humans.  They are allowed a limited number of survival items including a satellite phone so they can tap out.  They must find food and build shelter.  The last one remaining wins.

Having watched several seasons, there are lessons that the survivalists learn that apply in our businesses too:

Priorities matter.  Survival means finding food sources, having fire, and building a shelter.  Most contestants begin with either building a fire or creating a rudimentary shelter.  They know that when the evening comes these will be the two most important items they need.  Catching food, exploring the area, and other things are important but they must do what’s most important first.  Otherwise, their ability to remain in the contest is quickly diminished.  They can’t do it all at once, which leads to the closely-relates lesson of…

Pace yourself.  One of the first lessons that the contestant learn is to pace yourself.  Survival isn’t a sprint; it’s a marathon.  One Day 1, everyone is full of energy and excitement, but reality kicks in as soon as they are dropped off.  These men and women are in it for the long haul.  Sustainable food supplies and a warm, dry, secure shelter are paramount.  With limited tools and possibly small amounts of food, they can’t operate at 100% every day to secure those needs.  They pace themselves so they have the energy and resources to reach their long-term goal.

Adapt.  The contestants, like many of us, may catch a lot of fish one day and none in the same spot for days after.  Long rainy days may limit what they can do outside their shelter so they do what they can inside.  As the weather changes, a warmer shelter may be needed.  The survivalists change their tactics when the environment or the situation changes.  They stop doing what doesn’t work.  Doing the same thing when it no longer serves their purpose or meets their needs is a poor survival strategy.

Going it alone is difficult.  The emotional toll of being alone wears on the contestants.  Their video diaries show the emotional and mental battles they wage in addition to fighting the elements and nature.  Many of the contestant drop out for emotional reasons rather than physical ones.

Entrepreneurs and business executives face the same challenges.  We must prioritize what’s important and ensure it gets done above all other things.  We can’t run ourselves or our teams hard too long without time to recreate and regenerate.  We have to change our tactics, services, and markets to stay relevant.  And we need others – both internally and externally –  to help us shoulder the burden of leadership.