Has your company been sailing along creating revenues and profits that may have been of record proportions only to take an unforeseen turn for the worse?
One of my CEO members experienced this recently. At the last monthly meeting of his peer group business was booming, record revenues being recorded, large projects being won and it looked like this was a trend that would continue. They were “killing it”!
Ah, in one week union negotiations turned ugly. Movement toward agreement stalled. A strike loomed. And I won’t go into the negative Plan A or B that he considered.
Does this resonate with you? Has an unforeseen event derailed your company’s momentum? The recession in 2008 and beyond was a surprise as to it’s severity. But smaller events can have a similar effect. Things such as losing a major customer, having a newly launched product fail, losing a key management team member, a computer virus that causes you to lose all or a significant portion of your data, or a fire or earthquake.
My teaching point…never become complacent. I’m not suggesting to stress when things are going well but just do not relax. This is a good time to confer with your management team and create some plan Bs for a number of different scenarios. Ones that you may have experienced in the past, ones that plagued one of your competitors or something you may have heard or read about and realized, “That could happen to us”.
Never go into coast mode. I am reminded of a quote from one of the speakers I had speak to my CEO groups, “You can only coast downhill“.
Always be leading your company.