In times like these, it’s really important to get clear about what your view of the near future, even if that's 30 days at a time. Get clear as you can in this haze of uncertainty.
COVID-19 will continue to be disruptive and oppressive, for the next 90+ days. There will be profound uncertainty until the world sees reasons for optimism and begins its recovery. As it does, we can then recalibrate to the next normal.
Right now the focus is all about keeping people safe, holding on to key team members, staying liquid, and securing the essential business needs to make it.
No one knows the right strategy for the longer term, given our profound uncertainty. However, while we're waiting for stability, there is value in assessing your situation, systematically developing your assumptions, and preparing for a range of scenarios to help you and your team pivot to the right plan(s) when the time is right.
Invest in your comeback. Once your basic business survival needs are met, it will be time to begin to shift to meet the new dynamics and emergent patterns. Invest your time and energy early to shape your next strategy & your enduring culture so that you're ready now to be ready for when the market again turns positive and the new normal begins to form.
What is your view?