Crossing your fingers is not a strategy
If there is one thing that I have learned from all of the triathlons I have competed in, be it a short distance or long-distance race, you must prepare for anything. Rain, wind, extreme humidity, flat tire, broken goggle strap, and yes, forgetting your running shoes, anything can happen.
Now more than ever, I understand the importance of preparation and asking the important question "what if?"
Business and organizations should also heed this critical advice and take time now, if they have not done so already, and start planning for the next disruption. We have already seen some of the downstream impacts and unintended consequences related to the immediate actions and restrictions put into place in response to COVID-19. Whatever you call it, scenario planning, contingency planning, or business continuity planning, if you have not started the discussion with your management team, the board of directors, and your staff, it's time to have the talk.
The first step is to understand your starting point. Completing an assessment of the current state is key to raising questions about things you may not have thought about and identifying gaps. The assessment should focus on four primary areas:
Governance (Board of Directors)
Management and Staff
Business and Financial Model
Systems and Processes
Take a critical look at each of these areas, better yet, get someone external to your organization to take a critical look. A dose of reality will be worth the bitter taste!
When I first started training for triathlons, I remember being asked by one of the coaches after finishing a lap in the pool, "What was that? That wasn't swimming!" Sure, it was a knock to the ego, but it helped me to be a more efficient and more competitive swimmer.
So take action, make a plan, and be prepared to win the race, no matter how strong the headwinds may be.
For more information about how we can help you contact us at Info@karcsaygroup.com