Written by: Ashok Jaiswar
About the author: Group Head Marketing & Corporate Communications – Greaves Cotton Limited & Ampere Electric
Post pandemic curves coupled with a spike in unemployment has led to quite an uncertainty. There have been cuts in discretionary spending and people are more conscious of what to buy and consume. The choices today are driven by absolute necessity and utmost essential products and services only featured in the shopping list. The new normal poses a challenge for all of us.
As we usher into a new era metamorphosed from economic slowdown followed by lockdown, we find various ways in which people are dealing with this seismic change. A little deep dive with business leaders & understanding why the start-ups have defeated this retarding effect is worthy enough to be studied and dwelled upon.
So, what are they doing differently?
What can we learn from them, imbibe and act upon to recover faster from this uncertain phase?
There are 4 clear things (P.A.C.E) which can be focused upon to not just reverse the downward growth graph but spring back really fast.
- People make the difference
- Be Adaptable
- Foster Curiosity
- Execution is key
People make the difference
They are at epicentre of any great plan. One alone can’t win a war but it’s the team that comes together, discusses, collaborates, carries forward the mantle ahead. It’s confluence of minds, camaraderie & commitment which brings astounding results. We have seen few organisations & corporations showcasing a very high level of empathy supporting people & their families in the last few months. And we also have seen the way in which people have come forward to help and elevate communities during this crisis period. It’s positive karmic cycle & any small act of kindness rekindles humanitarian consideration for the rest of the world. Help people to help yourselves, this society and the nation.
While the world battles this unprecedented crisis, it’s the most adaptive one who will continue to fight back and grow stronger. This one ability to adapt has been part of our primitive instinct & has lived within us for years. We adapt, adjust, understand and grow from the situation. Historically, the species who demonstrated adaptability survived & lived in this world as a glaring example to be studied by all of us. Those companies & brands which quickly adapted to the situation have been able to successfully ride over turbulence. Just look at those who adapted to the new safety norms, connected to the outside world via online medium & showed resilience, have been standing strong and solid now & successfully separated themselves from others. Quick to change & adapt to survive is the key mantra.
If you are curious enough you can find your way out by asking the right questions and seeking the better way out. The solutions mind-set triggers us to seek clarity, evaluate alternatives, consider options and choose the best way out more easily. Every discovery stems from a curious mind which is keen to explore perspectives, has done scenario planning & helped everyone around to take a calculated decision.
One of the most common mistakes we make is to remain shy & not ask questions. If we overcome this habit, we not only will find simpler workable solutions but come up with much more functional products & services with higher value output. As Japanese TPM experts say ‘Good observation, Good analysis’, I would add one more aspect to this ‘Good Questions, Good Analysis”. Beyond keen observations we should ask always right questions timely, so that we can safeguard the situation. So be curious & courageous before you are victorious.
Execution is key
Last attribute which is extremely important is execution, a fact which makes or breaks things.
“To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.”- Steve Jobs.
A lot to learn from this quote. All those experiencing these challenging times have thought of some or other idea to handle this period & have drawn a recovery roadmap. It’s important to start working on the same & progress further rather than over analysing a situation. One of the best ways to check out, if our plans are effective or not is to see only when it rolls out. Don’t wait too much & waste time to perfect something, go ahead and do it. The more we wait, more flaws & perspectives will come up & then nothing will take off easily. We learn in our course of implementation & keep bettering it.
Execution and chase of completion brings required change. So be it your first pitch presentation to your customer, roll out an innovative idea, facing a large audience, product launch, testing or experimenting some concept you believe is best don’t stop just do it. Don’t get worried about what others-will-say, they any way will do. If it’s a calculated move, go ahead & implement.
Do-learn-repeat has enabled the established players, A-listers and go-getters to achieve monumental results.
So, in a nutshell if we are cognizant of these 4 things and work diligently, it can really help us to move northwards much faster and reset the pace.