Is this the new normal?

March, 24 2020

 

this is not normal
*image credit Matt Chorley "this is not normal tour".

Let’s deal with a few quick realities as I see them so we can move on to the good stuff.

Reality 1: The global economy is constricting. This is a plain and simple fact. Large sections of the world are isolated and in lock down.

Reality 2: This will have a huge knock on effect. Supply chains are long and complex, from the wheat that makes your bread to the plastic clips that secure the bread bag, some are considered essential others are not and at the end of every chain are people.

Reality 3: Regardless of any stimulus there will need to be a rapid restructuring of resources. Companies can no longer operate under Pre-Covid conditions and market assumptions.

Reality 4: Companies and individuals who until now have supported non-essential markets or who are in service led industries are going to be the hardest hit.

Reality 5: A company is, at its core, simply a group of people who combine to achieve a shared goal or purpose.

Each of us are reacting differently and I'm sure most of you have already made the connection to the 5 stages of grief: denial, anger, bargaining, depression and finally acceptance.

It’s important to remember that even though we are way beyond normal, how we behave as people shouldn't change. Don’t be tempted to trade on fear, don’t be tempted to push products or take advantage, don’t forget that the very people you are dealing with have the same issues that you do.

Economic factors aside, we are all living in the shadow of a world changing event. This is in itself an opportunity for every one of us to come together and make a few changes, understand the new marketplace and re position accordingly.

Rather than scramble to lock down business, why not take the time to think about what each of us actually needs over the next 3 months and beyond and how you or your organisation can help?

We need Food

We need Transport and Logistics

We need Infrastructure

We need Health and Pharmaceuticals

We need Education

We need Security and Emergency Services

We need Plumbing, Sewage & Electricity

We need Connectivity

We need Communication & trusted sources of information.

We need Entertainment and Well-being

We need Government and Leadership

This is by no means exhaustive, there are plenty of other things we need, the key is to identify how you or your organisation might adapt and where you can add real value. This is going to require, in some cases a serious pivot, but only by realigning with the “new normal” and supporting these and other essential sectors will we strike a balance between business as usual and business in isolation.

Regardless of how you proceed, communication is key. How you collaborate with your team, how you share your vision, how you position yourself with your market all relies upon a clear strategy, a solid plan and good execution.

This may be the new normal or the new normal may be months or even years away. This is the time to adjust, review and take stock. If you operate in the travel, events or service/hospitality space this will a tough time, likewise if you're self employed. If we all continue to pull together and support each other though, it will hurt a lot less. Some of the worlds most amazing businesses have grown from periods of crisis and recession, most recently Uber and before that, Adobe, EA, ARM and many more.

Take some time to consider your choices in both the long and short term and if you’d like to talk about your options or just bounce some ideas off a 3rd party, please reach out to Proven for a video chat. There’s no fee or sales pitch involved we just want to help get things back to normal for you if we can.

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