The views portrayed in this A Nimble Advantage blog are subject to change at any time based upon market or other conditions and are current as of Nov 15, 2020. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.
“The only strategy that is guaranteed to fail is not taking risks.”
— Mark Zuckerberg, founder, Facebook
With no question, the current pandemic as brought significant challenges to businesses and we are all facing them together. The reality is that society can’t keep up with the pace of change, let alone get ahead of.
Today any company that isn’t delicately balancing its future direction – as well as constantly adjusting its day-to-day contexts – and quickly making significant operational changes is putting itself at risk. All companies have a significant amount of constraints and unknowns that we are facing together. Not to mention, the typical pressure between needing to stay ahead of increasingly fierce competition and needing to deliver growth results. This can be fiercely overwhelming.
What to do?
First, take a deep breath!
Second, stay positive.
It is important to identify the most important challenges and formulate creative strategic initiatives that are nimble enough that they can be implemented quickly. It is important to note that the changing landscape is also a tremendous opportunity for companies to adapt and succeed.
Many start-ups, for example, are organized more as networks than as hierarchies, because entrepreneurs need to be nimble and creative in order to grab opportunities. Do not hesitate or be afraid to leverage your network. People want to help and can help. In some cases, maybe more than you know.
In closing, being able to adapt and maneuver is the name of the game. Several ideas for your organization to consider are:
Establish a sense of urgency (We are past the thrive to survive!)
Create a guideline coalition
Develop a changing vision
Communicating the vision (Communicate, communicate, communicate!)
Get team buy-in (Two heads are better than one.)
Empower team for action
Generate short-term wins and celebrate them
Incorporating and embracing change into your culture
Never let up
At AFZA Capital, we continue to encourage entrepreneurs to pursue their dreams and charge forward! We are in this together!