Turn Expectations into Probable Results

Turn Expectations into Probable Results

When we expect a certain level of quality from ourselves, we tend to work harder to meet those expectations. If we don’t believe we’re capable of achieving greatness, we probably won’t. In other words, we perform to the standards expect from ourselves.  We must turn expectations into probable results.

Turn Expectations into Probable Results

My favorite musical has always been My Fair Lady because of the Pygmalion effect, which infers that having positive expectations leads to enhanced performance, which results in a higher probability of success. The implication is that confidence and energy will increase if we believe in ourselves. On the other hand, a negative self-perception results in a significantly lower chance of succeeding. What we think we’re capable of, therefore, basically becomes a self-fulfilling prophecy.  We can turn expectations into probable results.

It’s important to attribute this effect to human behavior rather than science. For example, in a coin flip, the odds of getting “heads or tails” will not change even if you’re full of hope and positive thinking. Similarly, expectations and attitude can help when it comes to things like sports. So, a team might play better if they believe in themselves (the movie Major League is a great and hilarious example of this). BUT, talent, practice, and consistency also play important roles in success—so positivity can’t guarantee that a lousy team will win a championship.

Additionally, if you enjoy what you’re doing, you also have a higher probability of success.

So, when we discuss “projections,” it’s important that expectations and probability (how likely it is that something will happen) are both taken into consideration. For example, when flipping a coin, the probability of getting “heads” is 50 percent. However, the probability of winning the lottery is 1 out of millions. This illustrates how probability is greatly affected by percentage, BUT it is also affected by volatility and variance. For instance, the pandemic is creating highly uncertain and volatile circumstances, which makes it nearly impossible to accurately forecast anything.

Despite this, it is my opinion that dubious circumstances can create opportunities if we remain patient and seek alternative solutions. For example, many restaurants are experiencing immense difficulties, but pizza parlors seem to be thriving. Perhaps the takeaway here is that restaurants should look into cooking and preparing family-style meals to deliver. Another option would be to partner with delivery services like Uber Eats or Postmates, if they haven’t already. At some unknown point, we will go back to attending sporting events, concerts, eating out, and traveling, but until then, we must shift our focus to addressing the needs of the time. That might mean expanding your work-from-home options or pivoting to a different target audience—in other words: it will take work, but that’s business.

Now, in order to effectively utilize expectations and probability, it’s imperative to develop, test, measure and adapt different approaches. Many plans, forecasts, and proposals are done in a static format with one dimensional analysis and results. Those are usually all wrong because we live in a more dynamic and interactive world. For example, branding, marketing, pricing, and operations must all be assessed together rather than viewed separately as isolated activities. Similarly, businesses need to have alternatives plans in place and ready to go so they can adapt quickly. Mistakes will occur. So what? Steve Jobs was fired, Thomas Edison tested thousands of light bulbs before succeeding, and Walt Disney’s editor told him that he “lacked imagination and had no good ideas.”

So how do you use expectations to create positive outcome?

When it comes to the rapid changes that occur constantly in our society and environment, we are frequently afraid of risk. The Internet, digital technology, mobile phones, Google, and Amazon are all examples of technology that is transforming our lives. Therefore, relying on old methods or a “we’ve always done it that way” mentality may actually be riskier than making a change.

Similarly, business analysis, big data, the cloud, and other management tools are great resources to mitigate risk. I’ve done a lot of work testing different pricing strategies to improve performance, especially on the Internet. You can’t just stick with what used to work and, therefore, your expectations must include the assumption that you will need to adapt frequently.

Furthermore, your probability of success increases when your expectations include actionable goals:

  • If you expect big results, consider taking bigger risks.
  • If you expect accuracy, focus on obtaining better data and improving your testing, analysis, and measurement tools.
  • If you expect to keep up with competitors, include innovation and hire exceptional people (this might involve tolerating some “deviant” behavior from employees, but that’s often a side effect of utilizing out-of-the-box thinkers).
  • If you expect long-term success, create an open company culture that embraces diversity, change, collaboration, communication, and pushes boundaries.
  • If you expect greatness from your staff, empower them to do their jobs to the best of their abilities. This requires hiring and training good people, trusting them and giving them the authority, they need to perform effectively, and understanding that they will sometimes make mistakes.
  • If you expect to address and solve problems, develop reliable resources outside of your company. Don’t utilize friends and family who won’t tell you the truth in order to spare your feelings or who may not even understand your business’ needs. Visit places like Google, your library, and incubators for networking opportunities.
  • If you expect to increase profit, focus more attention on the process of decision-making. How good is the information you’re using, what are the consequences of possible mistakes, and how much risk can you afford? With the exception of issues like safety, I think we can all afford more risk. We’re generally overly concerned with the consequences of mistakes and we lose sight of the potential gains.
  • If you want to succeed, believe in yourself. Because if you don’t, why should anyone else? You need to turn expectations into probable results.

I have learned that traditional and detailed startup recommendations (like planning and budgeting) are not as important as we previously thought. Instead, a continuous process of analyzing, measuring, and adapting to ever-changing parameters, programs, markets, and risks has a much higher probability of success. Finally, expect greatness from yourself. Learn to turn expectations into probable results. Success requires positive thinking and high expectations. If you truly believe in something, you’ll work tirelessly to make sure it’s successful. So, why can’t that something be you?

Please visit our website www.startupconection.net to book a Free Session in which we can help you develop an action plan that will evaluate potential and risk. We always discuss process, expected outcomes, and cost before you make any commitment.

Dr. Bert Shlensky, president of Startup Connection, prides himself on his ability to define what is unique about each and every business. He works closely with individuals to develop a personalized approach that targets specific areas of concern and offers solutions based on his 40+ years of experience. His expert team will address your particular needs while working to save you time and money.

You can also reach Dr. Shlensky at: 914-632-6977 or email: bshlensky@startupconnection.net

Excellence: An Unfortunate Casualty to Other Priorities

Do you ever feel like you’re spreading yourself too thin across too many endeavors? It’s a common occurrence among ambitious people trying to achieve excellence. There’s this notion that we can either be adequate at several things or excellent at one (maybe two). There is substance to this idea: Think of Olympic athletes—they train all day, every day striving to be the very best at what they do. Undoubtedly, this comes with many sacrifices, but no one can argue that they are not exceptional at what they do.

We live in a society where unsolicited advice is shoved at us day in and day out. This comes in the form of advertisements, social media posts, news articles, friends/family, etc. These opinions include recommendations to change this or that, be flexible, be more analytical, more inclusive, more supportive, and so on and so on. While these all seem like noble endeavors, are we spending enough time attempting to truly do them right? Are we dedicated to putting in the work necessary to ensure our efforts make a difference?

Some examples:

  • Everyone says rely on science and data. However, we frequently advocate conclusions without validating the assumptions. For instance, remote education has become increasingly popular. For the most part, however, eLearning does not properly address the need for one-on-one contact especially among children with special needs.
  • Organizational structures, procedures, and communication are being challenged because of antiquated practices. However, new approaches may not be adequately researched, tested, or measured. Nearly every retailer that is in bankruptcy or consolidating (such as Penny’s or Hertz) has been advocating new strategies and regularly changing chief executives for years, but with dismal results.
  • We quickly fall in love with innovation especially when it comes to technology and services (think Airbnb and Uber). Yet, many of these efforts lose millions of dollars and will never actually be profitable. WeWwork and Gilt are notable current examples.  

We need a shift in perspective regarding change, execution, and excellence. The following are some specific instances where organizations simply need to better understand their new environment and work to more effectively execute fundamental change:

  • Demographics are a critical factor for most businesses. The world is simply getting older and more ethnically diverse. A critical issue that affects excellence is: Do you understand your target audience? This includes all of the nuanced social characteristics that go along with it. For example, if your product is geared toward people under the age of 25 and you don’t have a website or online presence, you do not have a clear grasp on the buying habits of your demographic.
  • Organizations that don’t understand and use the digital transformation need to change, rather than just execute. Opportunities like the cloud, Google, internet, CRM systems, digital phones, apps, etc. are simply changing the processes, costs, and marketing of businesses. Amazon and other online retailers will continue to revolutionize—requiring traditional brick and mortar stores to react and adapt. Similarly, companies like Uber and Airbnb are significantly transforming their industries and will continue to do so.
  • In the current state of the world, businesses are and will continue to be subjected to radical and continuous change. In order to survive such a turbulent climate, they need to build mechanisms into their processes that can adapt quickly. As we prepare to face ongoing uncertainty and instability, we must focus on changing and simplifying processes in order to reduce risk. Therefore, strategies such as pivoting and “develop/test/measure/adapt” need to be built into our organizations.

Despite the fact that we consistently praise excellence, we frequently ignore opportunities to pursue it and actually do things better. Some simple ways to improve performance and incorporate excellence into your business practices include:

  • Review how and why you do things the way you do them. Eliminate ineffective practices from our organizations. Some practices may be outdated or just flat out not working.
  • Focus on customer service. Many companies are devoting new efforts to improve this department. However, these efforts are limited without a culture to reinforce them. Consider this: Do companies really care about their customers and get excited when a customer has a great experience? Many companies treat their customers and employees like expendable pieces of the machine. A critical element of culture is trusting employees and staff. This requires hiring and training good people, giving them the authority they need to do their jobs well, and understanding that they will make mistakes at times—mistakes that need constructive correction and not just reprimand. 
  • Consider pricing adjustments. Pricing is not a dirty word and there are numerous tools to improve results without deteriorating your brand. Packaging efforts like bundling and unbundling, quantities, timing, quality, the Internet, and service are all elements that should be part of pricing strategies. For example, Costco and Four Seasons Hotels follow quite different, but successful value strategies.
  • Analyze and analyze some more. All of the aforementioned efforts will be even more successful the more open and analytical your organization is. Businesses need to understand their environment, review their successes and failures, listen to new ideas, and be willing to accept the truth even when it’s not what you want to hear. 
  • Remember that business is about people. They are your most important assets. Hire excellent people and then listen to them and reward their behavior. A simple please, thanks, and “How are you?” go a long way. Kindness and appreciation are incredibly easy and efficacious efforts.  

When it comes to achieving excellence, remember to evaluate situations and determine the appropriate strategy. Assumptions, efforts, process, and results are greatly improved with analysis. Additionally, evaluating alternatives can also help build support for any processes that are executed.

At the end of the day, keep in mind that you’re only one person and you can’t do everything. And if you try, as mentioned earlier, you’ll probably only achieve mediocre results. So, in your pursuit of excellence, remember that we each have limited financial and human resources. Prioritize and learn to focus on the areas where you can have the greatest impact and the aspects of your business that customers really care about. Training always sounds good, but it frequently fails to achieve its goals. Instead, consider hiring people who can specialize in the areas where you may be lacking and delegate tasks in such a way that will encourage excellence across the board. Finally, when it comes to matters of safety, health, social values, and civil rights, we must incorporate these issues into our values and efforts so as to facilitate excellence and not impede it.

Dr. Bert Shlensky, president of Startup Connection, prides himself on his ability to define what is unique about each and every business. He works closely with individuals to develop a personalized approach that targets specific areas of concern and offers solutions based on his 40+ years of experience. His expert team will address your particular needs while working to save you time and money. Check out his books for the business entrepreneur: Marketing Plan for Startups & Small Business and Passion & Reality for Business Success. Both are available at www.startupconnection.net.

For a Free Consultation, you can reach Dr. Shlensky at: 914-632-6977 or email:bshlensky@startupconnection.net

Maneuvering through a Pandemic: Baby Steps or Big Change?

Functioning during a pandemic is the ultimate conundrum. While constant uncertainty, risk, and complexity complicates (and slows) every decision, the pressing need for immediate change, adaptation, and redirection never lets up. It’s a relentless balancing act between immediate survival and long-term success and the only sure thing is inconsistency. Amidst so many necessary adjustments, it’s difficult to know the best way to advance effectively as we are maneuvering through a pandemic. But, alas, advance we must.

Are baby steps the answer or is big change the way to go?

As we find ourselves maneuvering through a pandemic, on one hand, some baby steps are critical because problems continue to develop every moment that require urgent and immediate changes. While we are rushing to develop solutions, the nature and complexity of immediate goals has dramatically shifted. Safety must be at the forefront of every program and decision. Short-term financial constraints have become paramount while uncertainty is limiting most forecasting through 2021 at least.

Crises Response:

  • With forecasting unavailable in a rapidly changing business environment, instant flexibility and response are crucial. For example, work-from-home, online shopping, and crowd avoidance will continue to evolve over the next few months.
  • People management is requiring more quick decisions and administration. When, who, and how do you bring back staff? How do you make decisions and adapt the organization while considering factors like work-from-home, more volatility, and more uncertainty? Should you consider hiring creative types or especially skilled people who can offer new solutions?
  • Pricing strategies during a pandemic are critical both in controlling costs and generating volume. In particular, you need to recognize new costs and new customer preferences; which will require analysis and measurement using multiple small trials. Consider alternative pricing tactics as well as the entire pricing package. Online sales, measurement, and flexibility will make these rapid changes executable.
  • The latest trends in dealing with the crises also bias our decisions. For example, many businesses are executing 25% operating formats that most experts think will fail. Every business owner needs to continue to test a lot of alternatives that integrate expectations, uncertainty, psychology, culture, risk, quality control, consumer confidence, and values.

Planning ahead:

  • Short-term small efforts must be integrated and designed with long-term strategies and operational efforts in mind. Start with a quick assessment of who you are and where you are going with your business. Don’t worry about the details. Just take a half hour or so and write down key goals, challenges, and opportunities. Make it short so you can focus on priorities rather than overwhelming yourself with too much. You can (and should) come back and revise this list frequently.
  • Assess your potential profitability and financial needs. There are simple profit models that can help you easily determine your viability, key issues, and alternatives. In particular, the analysis should focus on the impact of various factors on your profitability and potential. One of the surprising aspects of this analysis is that growth and prioritization are frequently more important than cost cutting in business success.
  • Focus on what you do well and eliminate efforts that will fail.
  • Keep strategies and programs integrated. Issues like rent, supplier relations, marketing, operations distribution, etc. are critical and must remain flexible on a daily basis. And while finances may be tight, marketing could be the best opportunity for success. Additionally, collaboration with suppliers and landlords will be essential for success. Many tenants and landlords seem to avoiding each other, but I suggest negotiating new rent requirements and marketing efforts in order to survive and generate more business. There are also a number of marketing efforts that can be tested and purchased on a reduced or trial fee.
  • A lot of great discussions are taking place regarding working-from-home, office spacing, and communication. However, most of the talk revolves around physical settings to accommodate spacing and other requirements. We need to also examine the impact on structure, communication, social interacting, and decision-making.
  • The new normal must include tools that encourage informal communication in order to help develop relationships, build trust, encourage new ideas, and create safe feedback. Examples: some in-office meetings and social events, including part-time or other department staff, promote health and wellness, and develop community efforts to replace interactions that no longer exist such as “water cooler chats.”
“I just thought we should talk more.”
  • In general, I support developing confidence and taking more risk. In many cases, we overestimate the costs of failures and underestimate the value of success. Midst pandemic, constant uncertainty makes risk more prevalent in all decision-making. Make sure you understand the value, alternatives, and the probability. Similarly, analytics frequently ignores the potential of innovation and out-of-the-box-solutions. Adapt and be flexible. Most efforts won’t succeed on the first try, but practice integrating the positive components from each trial with some different approaches.
  • Traditional organizations will most likely fail in the wake of the “new normal” because they are inflexible, hierarchical, and change too slowly. Walter Isaacson’s book, The Innovators, illustrates how commitment, diversity, collaboration, and friction among diverse participants such as Jobs and Wozniak or Gates and Allen led to success. The structural key to change is the need to be open to measurement and feedback. Looking at, understanding, and sharing financials, operations reports, and sales reports are the first step. Simple research studies and social media can be additional tools.
maneuvering through a pandemic

As we find ourselves maneuvering through a pandemic, the solution seems to be found in a paradoxical combination of immediate change and big baby steps. Inarguably, the slate needs to be wiped clean and new paradigms are a necessity. This will include immediate crises and opportunity management as well as long-term strategic considerations. A focus on cooperation, open collaborative systems, and trying to keep in mind that “smaller can be better” may offer hope for organizations as they restructure. Finding a way to stay afloat and, ideally, thrive during such a transformative time requires nuanced decision-making. You’ll need to find a balance between small steps, immediate action, gradual shifts, and drastic change while determining which approach works where and deciding if it’s a short-term response or a long-term solution. Sure, it sounds complicated, but that’s the nature of business. And you already knew that.

Dr. Bert Shlensky is president of www.startupconnection.net. He and his expert team help businesses develop integrated customer-focused marketing programs that are key to business startup success. He is also the author of the recently released book “Passion & Reality for Business Success.

The New Normal: What Will It Be and When will it Happen?

At some point, through everything COVID, we’ve all wondered: when will things return to normal? The short answer is: never. Things won’t (and can’t) return to the way they once were. And, despite extensive planning and attempts to reopen the economy, there will be change and it will usher in a new normal.  

Nowhere is this more evident than with the economy. Every day we hear success stories like Peloton and Papa John’s Pizza who are absolutely thriving. However, this drowns out the noise of businesses like Hertz, JCPenney, J. Crew, and Wework who have gone (or are in the process of going) out of business. Everyone is touting the need to preserve and support small businesses with absolutely no idea how to save them. The reality is that hundreds of thousands of small business are no longer viable and will be gone. Industries such as airlines, travel, gyms, hotels, recreation, sports, and restaurants will need completely revamped models in order to survive.  

The economic issues are compounded by the integration of social circumstances. Social distancing is the elephant in the room and it’s completely disrupting many industries: 25% to 50% restaurants, hotels, airlines, and theaters cannot function (profitably) this way. Simultaneously, we are learning to like and, perhaps even enthusiastically, incorporate certain aspects of the current situation into our daily lives. Working from home, delivery and take out, and Zoom meetings are all becoming preferred activities.

An obvious game changer would be a vaccine. However, the uncertainty of when and how that might happen leaves us with no choice but to forge ahead with the information we have and the circumstances in which we currently we find ourselves. So, let’s examine some obvious changes that need to be managed to get to a new normal:  

  • Office space, rush hour, lunchtime eating, and traffic will reduce by at least 15-30% as working from home becomes largely preferred.
  • Entertainment, sports, restaurants, and travel will reduce by 15-30% as patronage drops due to capacity limits / spacing requirements, cleaning protocols, and other restrictions.
  • 2020 is and will continue to be a chaotic disaster. There is already overwhelming uncertainty regarding a vaccine, the virus itself, the economy, unemployment, education, the upcoming election, and increased social unrest in the form of protests.
  • Many forms of stress release have been taken away or changed due to the stay-at-home order (i.e. entertainment, exercise, visiting with friends). Unmanaged stress can lead to depression, unhealthy behaviors, and increased instances of family abuse.
  • Other major concerns: absorbing shutdowns, 10% unemployment rate, 100,000 virus deaths, -5% GDP decline, and a few more government stimulus programs.
  • As states start the process of reopening the economy and more businesses and schools startup again, we might expect a second wave of the virus followed by another (full or partial) shutdown.

Therefore, amidst all of the uncertainty and change, it’s absolutely necessary to focus on stabilizing, developing alternatives, and accepting that a new normal is inevitable.

In contrast, 2021 could offer some huge opportunities and a turnaround in regard to many of the things above. The election, fewer deaths, 4-7% unemployment, 2-5% economic growth, and a gradual relocation / increase of public activities are fairly reasonable predictions.

So, how do we move forward effectively?

  • Hope for a vaccine should not be discarded, but it also shouldn’t be counted on.
  • Don’t get distracted looking for quick solutions rather than attempting to implement new paradigms. Drive-in movies and restaurants may be nice temporary activities, but they are not long-term solutions. Meanwhile, opportunities to work-from-home and Zoom calls are providing whole new structural alternatives. The problem, however, is that we need to maximize their potential rather than just settling for their existence.
  • The pandemic has shed light on the fact that many of our institutions (such as schools, health care, social services, and retirement homes) are extremely broken and require structural change. We need to learn to focus on developing great programs rather than simply putting Band-Aids on problems. For example, nursing homes should be smaller and more patient-centered instead of resembling an overstocked warehouse. Many nursing homes have very diverse populations grouped together with little hope or expertise to service individual needs.   
  • Many other businesses and industries (like post offices) are changing as well. Discussions generally focus on close, fund, or shrink, but alternatives (such as changing models, merging, adding programs etc.) should receive more attention. For example, I have an apparel client who is now making masks and safety equipment. Shifting needs requires shifting business models.
  • Remote efforts, technology, and innovation are the key trends to keep an eye on. Activities and services that require crowds and/or physical contact will continue to be problematic. I think much of the discussion to follow will be about the technologies regarding issues like social distance in public (i.e. elevators) and how to improve working from home. We have the opportunity to create new work environments and should start by considering the goals, strengths, and constraints. For example, it’s easy to advocate only allowing half the people in an elevator at a time, but that doesn’t get thousands of people up the elevator of a 30-story building in a timely manner. 
  • Everyone tries to discount politics in forecasting, but it is critical during this period. I believe the Democrats will have a landslide in all areas including state and local government. This would certainly embrace climate change, infrastructure, education, health care, taxing the 1%, immigration, and social rights. Less of a landslide or loss would bring about very different changes. Either way, we must incorporate our assumptions into our actions and not ignore politics simply because it’s an uncomfortable topic.

While we’re still not sure what exactly the new normal will require, we do know many of the opportunities and challenges that will come with it. Avoid engaging in obsolete or doomed activities and, instead, embrace innovation, testing, and new paradigms. All cultural change starts with openness, includes a focus on infrastructure and measurement, and requires an awareness of biases. And, ideally, those steps lead the way to cultural change that ends in positive progress.

Dr. Bert Shlensky, President of www.startupconnection.net, offers experience, skills, and a team devoted to developing and executing winning strategies. This combination has been the key to client success. We welcome comments, suggestions, and questions. You can write him at: bshlensky@startupconnection.net or call at: 914-632-6977

Adapting to the Pandemic

The pandemic is rapidly teaching us that personal, organizational, and structural change is going to be tougher and faster than expected. Consequently, we must accept that dramatic solutions are necessary to manage, what is now, an entirely new landscape. We all need to be adapting to the pandemic.

There are several significant changes that have already occurred (and are not going to disappear in the near future) that are worth taking into consideration:

  • We are implementing financial deficits at local, state, and federal levels that, prior to this, were never considered acceptable.
  • Health care and service workers are receiving (long overdue) recognition and appreciation. Experts are also saying practices like home care and virtual appointments, which are eliminating marginal procedures and improving efficiency in medical care, will become a more permanent standard. 
  • Social distancing policies are forcing behaviors such as hugging, kissing, and shaking hands to be revolutionized and avoided.
  • The magic word seems to be “remote.” Tele-doctors, homeschool e-learning, working remotely, food delivery and pickup are becoming the new normal, but standards, expectations, and productivity are still unstable and unsustainable. Adjustments will need to be made to accommodate shifting trends and other obstacles. For example, many pizza parlors are experiencing dramatic increases, but the volume is mostly at dinner rather than a steady all-day flow. Parents are finding it difficult to work while simultaneously caring for their children. And, teachers are struggling to manage students and cover the same amount of material in a virtual classroom.

On one hand, we need faster and more dramatic change. On the other, we need more science, testing, and technology to ensure success. Imagine how an increase in things like control groups, curves, models, and logistics could improve our effectiveness and efficiency as we are adapting to the pandemic.       

There are several key areas where dramatic and structural change will be necessary to adequately adapt to a vastly changed environment:

  • The most dramatic (also evidenced in the 2008 financial crises) is that the big will survive much more effectively than the small. In the last few decades, the number of banks and public companies has reduced by over 30 percent. In contrast, the number of restaurants (about 600,000) has remained the same for years. It’s estimated that 10-20% of those and other small businesses will not survive this crisis. That will significantly alter the opportunities and challenges of small business.
  • We need to focus more on efficiency and restructuring over simple cost reduction. Amazon and other tech companies have become the main targets of criticism regarding questionable practices. However, we should also recognize their contributions in expanding things like communication, home delivery, cloud sharing, etc. For example, I have a consumer products client who has lost much of her retail business. However, she has more than offset it (via sales on Amazon and on her own website) with higher margins and lower prices.
  • Better management of increased risk and uncertainty is required. Companies are unwilling and unable to forecast 2021, which makes 2022 equally uncertain. Thus, capital, operations, personnel, and marketing decisions are basically on hold. However, we can look at history, industry, and probability models to provide a little more predictability. In particular, looking at alternative scenarios and their probable outcomes can be a valuable effort.
  • Technology will be king. Amazon, Google, Facebook, and Apple will survive and grow as they become even more innovative and efficient. Traditional retailers with large real estate platforms and margin requirements are at great risk. Consumers are enjoying many aspects of the work-at-home, delivery, virtual lifestyle. These conveniences will be expanded and must be integrated into our systems.
  • We need to face tough decisions in maximizing our success. While the specifics may be uncertain, most organizations require more technical and analytic skills. Can you provide challenges and opportunities for your best people rather than drowning them in bureaucracy? Can you retrain or replace staff who are less effective? How can you create a supportive culture that values risk-taking, innovation, diversity, and embraces the importance of learning from mistakes?
  • Learn to prioritize. What is working, what is failing, and how do you devote more resources to the successes? Sometimes our fear of change limits our effort to understand that opportunities, not challenges, have the greatest impact.

The most important aspect of adapting to the pandemic that we’re currently experiencing is to recognize its significance and aggressively find solutions. It does require an openness and willingness to test new ideas. Don’t let emotion or bias affect you. Remember that passion, energy, and commitment are strong determinants of success. Take comfort in the fact that risk can be reduced greatly with testing, research, and analysis. And embrace integrated approaches that incorporate new strategies and activities. As Sheryl Sandberg said:

Dr. Bert Shlensky has an MBA and a PhD from the Sloan School of Management at MIT. He is the President of the New York-based consulting firm, The Startup Connection, where he uses his 30 years of high-level business experience to guide his clients toward maximum sales and profit. For a free consultation, please visit www.startupconnections.net.