Capturing your Corona-geddon learnings in your playbook
Businesses have much they can learn from the military. One key learning is to know how to maintain situational awareness while maintaining operational effectiveness. Enabling us to do so is having an effective playbook in place.
As business owners and CEO’s, having an operational effectiveness playbook in place has the following benefits:
- It captures our learnings from prior times of crisis so we don't repeat mistakes we've made but do repeat what worked well
- Helps remind us what steps we should take to protect the worth of our business and which steps to even build it
- It allows us to spend less time wondering what setps we should be taking, more time executing
- Builds our team confidence that we can handle a crisis
- Prepares us for a future due diligence where future stakeholders will expect a playbook to be in place
Hopefully your business has been working a playbook that you developed after the 2008/2009 financial crisis. But if not, now is the time to build your playbook that captures learnings from this crisis. Doing so will help you capture the best and worst of the steps you’ve been taking and when the next crisis hits, you will be much better prepared to act decisively.
Don’t let a crisis take your hard earned worth away. Have an effective playbook that helps you minimize or protect your losses and even help remind you of steps you could take to build the value and net worth of your business.
