Mike Tyson the heavyweight champion of the world was famously quoted that “everyone has a plan until they get punched in the face”
For most businesses, our strategic plans we set at the start of 2020 went out the window as the Covid crisis sucker-punched us and turned our world upside down!
So much for 20/20 vision, we did not see that coming!
As an entrepreneur, I think success is measured by getting up more times than you get knocked down. What does not kill you makes you stronger, and it is how you respond to adversity that matters. We have to bank the learnings, strap on a positive mindset and rethink our strategy.
Over the past 6 months, we have had the privilege to work with companies around the world to help them reset and modernise their go to market strategies. Many of those companies have had record months (in the entire history of their business) despite Covid.
What have they done differently and what are some of the key learnings?
Leaders must rise or the business dies! Great Generals are found in war, not peace. During a crisis, leaders must lead, have a positive growth mindset and be unwavering in their direction. Having a plan makes provides clarity to lead and give certainty to stakeholders.
Plan but don’t think too far out, Instead of planning 12 months out, plan 90 days and review monthly.
Here are some key questions to consider when planning:
What is our cash runway? Where will our revenue come from? Existing or new? How much new business do we need? Who is our ideal target market? Do you still have a viable addressable market or do you need to pivot? What new challenges is your target audience faced with that you can solve? How do you reshape your strategic messaging to get their attention? What are the leading KPI’s for us to achieve our short term goals?
Adapt your sales process to the buyer’s journey and current conditions. The sales landscape has changed more in the last 6 months than the last 60 years. Because of travel restrictions and social distancing we need to adapt and lean on technology to enable growth. We need to transition from face to face to screen to screen.
