Is the impact of Covid19 really something that we have not experienced before in business?
The reality is that Covid19 is just ‘Sudden Change’, something that nearly all business has, and will continue to experience as we move ahead.
It is no different in concept to a competitor entering the market, the introduction of the internet, Online competition, Global service providers, or the launch and end of the LNG build in Papua New Guinea.
We have all dealt with sudden change before so why the mad panic when it happens again?
In business, we need to continually re-evaluate how we operate, and if we fail to do this, we are setting ourselves up for failure.
We are surrounded by constant change and for those of us who are successful, constant growth.
Like renovating a house, the foundations remain constant, but we can change the look and feel. If you have a successful business model and product, you have the right foundations. You do not need to knock the house down and start again, but you do need to renovate to make sure it remains of good quality.
You must ensure you are not obsessed with short term targets and focus on being visionary and strategic.
Be open minded to what your people have to say and consider their options for remodelling the business for a successful future – remember they also have a lot invested in the company and their future security.