COVID-19: Week 7 Insights

COVID-19: Week 7 Insights

Friends, clients, partners, and fellow community leaders,

As the calendar turns to May, our journey navigating COVID-19 continues. These weekly posts are an opportunity for us to reflect on what we’ve learned, celebrate the small wins, and take heart in the resilience and determination of entrepreneurs and decision makers in our community as they muster the courage to travel this uncertain road. We encourage you to stick with it and choose to give each day your best.

Today I shall behave as if this is the day I will be remembered.

– Dr. Seuss

Over the past two months, we have spent significant time connecting with leaders and observing the shifts in mindset that occur as we navigate COVID-19. Here are some thoughts from Week 7:

      1. It is the end of the beginning. With government leaders beginning to speak of “reopening the economy,” we have heard some start to suggest that the end is in sight. In Week 1, we advised this was more of a marathon than a sprint, and we still believe that. Business as usual will not return with the gradual reopening of some businesses and sectors. Alberta faces a long road to full recovery, and organizations are best served by planning for an extended period (months not weeks) of business as unusual. It will be easier to adapt a plan that overestimates the impact of COVID-19 on the economy and your organization than one that underestimates it. Yes, an end to the current phase may be coming, but it is only the end of the beginning. Remain hopeful, but not naively so. Steady, practical, and realistic will see you through what is still likely to be a long and bumpy road ahead.
      2. Make decisions. Challenging times make us want to withdraw and second guess. Organizations and leaders who survive and even thrive as a result of COVID-19 are most likely to be the ones who make decisions proactively. You will do better by making many decisions and getting some of them wrong, than by limiting your decisions to only a handful you can be certain to get right. Undertake some analysis and due diligence, but do not allow yourself to be paralyzed by uncertainty and a lack of perfect information. Choose a path, adjust as necessary, but choose and move forward.
      3. Find the courage to reinvent. The more challenging the current reality, the less likely organizations are to make bold choices. However, if you or your organization are struggling, now may be the perfect time to innovate or try something new. People are actively looking to support those around them navigating the pandemic and are more willing to accept an imperfect solution from you. Right now, there is space to experiment with new offerings or approaches. Some will fail, but there will never be a more forgiving market in which to try something new.

We want to share a reminder about the recent launch of Compass Collective, an initiative Incite has co-founded to bring complimentary professional advice and support to businesses in need. Check out the wide range of offerings available from us and the other partners. www.compasscollective.ca.

Our insights from Weeks 1 to 6, along with other valuable resources, can be found here:
https://incitestrategy.ca/insights/

We know how difficult this time is for many business leaders. If you have questions regarding your business or simply want to chat, please do reach out. We are here to help.

Keep going and just do your best.

Best regards,

Ted Kouri

President

Ted Kouri
[email protected]


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