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Business Business Strategy

Now What: The Three Step Fast Track Toolkit

1. Everyone thinks crises are unpredictable. They ask: When will the crisis be over? What is going to happen when the crisis is over? The answer will be different for every company in every industry. 

2. 2 elements make crises predictable. (1) Human nature hasn’t changed. (2) The law of supply and demand hasn’t changed—and this is a demand crisis. 

3. There will be a treatment for COVID-19. We don’t know when. When there is a treatment, the crisis will be over. 

4. The crisis accelerated processes. Provided space for technology to develop extremely fast and take over. 

5. Many clients are moving faster to respond to the crisis. 

6. Companies need three teams that operate separately to respond to the crisis: 

– Pirate brigade: Eliminates uncertainty. This is the team that goes after cash. 

– Army: Most of us believe we’ll be able to use the same biz model after the crisis. They make your business model more efficient. 

– Kamikaze: Role is to kill the existing biz model 

7. To address uncertainty, don’t overcomplicate things. Look to the end consumer, like a lady who buys shampoo. When will she start buying shampoo again? Is it a need or a want? What are this person’s emotions? At the end of every supply chain, there is a physical person. 

 

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