Before I write anything here, a disclaimer. I really dislike “how to ..” posts that overly simplify ongoing life challenges. Stuff like, “How to Make $1 million a Week Working Part Time from Home!”
And i am not going to write that kind of post here. The reality is that no one really knows how this crisis will shake out over time.
Steve Blank offers a post on how start ups might cope with COVID 19.
Here is the subtitle
Winter is coming
Fred Wilson offers some interesting thoughts about how the stock market and crypto markets are reacting.
His key point
… this downturn (is likely to)l see a greater number of winners and losers than most of the downturns I have lived through. That is because we are already into a pretty meaningful transition from an industrial/physical economy to a knowledge/digital economy and the very nature of this macro event is accelerating that transition in many ways. We just won’t go back to doing some things the same way.
The rule of thumb: to stay afloat, figure out how to add value in this changing environment. Don’t just “hunker down” and wait for the crisis to pass in order to go back to normal. That might work. And it might not. Follow that kind of strategy at your own risk.
An alternative? I liked Adam Rapaport’s message to fans of Bon Appetit. I liked it for 3 reasons
- Adam shows a positive attitude. The “We can get through this together” message is critical from leaders to followers. Or else followers will search for other leaders
- Adam realizes that BA clients want some sort of continued service during the crisis, and he is adapting to provide stuff in light of what is possible. He is not just mechanically doing old stuff or stopping altogether
- Adam realizes that BA clients want to understand how BA is changing. He is sharing the process, not just the result. And he is maintaining your personal links to his staff.
You might contrast that with the NBA. Because I paid to become an NBA prime subscriber, Commissioner Adam Silver sent me an email. What did he say? That the NBA is concerned about health. Ho hum. NBA prime still has lots of video of old games. Ho hum. Nothing about what the NBA is thinking about doing to provide sports entertainment during the crisis How could that work? I don’t know. Then again, no one is paying me the kind of money that Silver gets to do that creative work either. I was not satisfied, and Silver damaged my relationship with the NBA.
So if you are running a business, it is time to get creative. Think outside the box how to preserve your client relationships by helping them get through this crisis.
That is my “how to” message. Now, as my dear departed old dad would say “no get off your ass and do it!!!”