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Business after COVID-19 – Press Reset and Focus on Your Purpose

As the world reopens after the COVID-19 lockdowns, you might be considering how to rebuild your business. To focus your thinking ask five questions.

  1. If there was only one thing you could do to re-establish/grow/improve your business, what would it be and how would you make it happen?
  2. If there was only one thing you could focus on to improve your own personal performance, what would that be and how would you make it happen?
  3. What market signals or messages are you not listening to or not confronting and how will you respond to them?
  4. What three things are going right for the business and how can you capitalise on these?
  5. What is the purpose of your business? Do your answers to the first four questions support that purpose?

Spence and Rushing argue that believing deeply in your purpose is the way to build and nurture your business. Look at every decision, big and small did you make and ask whether or not it will support or subvert your core purpose. Focus on purpose, and keep in mind why you are in business and profits will follow. Keep in mind what you are fighting for.

Spence R M and Rushing H (2011) It’s Not What You Sell, It’s What You Stand For: Why Every Extraordinary Business Is Driven by Purpose.  Portfolio Trade ISBN-10: 1591844479 See Page 295

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What only a CEO can do? Well, she can’t be busy.

When I was first appointed as a CEO, I regularly felt that I was not doing the right things, no matter how hard I tried.  Over time, and several other jobs, I have learned that being busy “doing things” is not the best way for the CEO to invest time.  There are some fundamental that worked for me, and probably can only be done by the CEO.

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Management through Meaning

“Total self-absorption or lack of empathy” and “lousy interpersonal skills” are the least desirable behaviours of leaders.”

The management of meaning is central to leading organisations in the current climate of discontinuous change (Limerick and Cunnington, 1993:224-225). Managers should have very meaningful objectives but if these are not communicated little will be realised. The ability to translate visions into meaningful actions or attitudes for followers through a mastering of communication is inseparable from effective leadership (Peters and Waterman, 1982:67-73). Vision plus communication results in shared purpose (Nanus, 1992:156).

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Thoughts On Thursday…learning is work

“The ability to learn from experience in the present — from moments, not models — is what is needed when the past has become a hindrance and the future is unclear.“ p.49

This week I was alerted to this paper by Gianpiero Petriglieri.  It’s attraction is a reminder that whilst we often voice the need to learn at work, we often leave that as an aspiration.  To turn aspiration to action we need to create the time and space for learning to occur.  It must a a conscious process.

“There is freedom that comes with transformative learning. If you can notice, voice, interpret, and own your experience, you can also begin to imagine how to change it.” p.50

 Gianpiero Petriglieri (2020) Learning for a Living. Learning at work is work, and we must make space for it.  MIT Sloan Management Review Vol. 61, No. 2 • Reprint #61209 • https://mitsmr.com/358yEht