OMG! Another COVID Business Story
Written by: Chuck Bean, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
I like to say that the ups and downs of business are like swimming in the ocean. If you want to survive and perform, you have to stay above the water during the wavy times and understand the chop. Sometimes you are up, sometimes you are down, and you are always being pummelled. Learning to stay above during the high and low times and being able to match and overtake the cadence of the chop is key.
Coming out of the COVID19 pandemic (a low for many and a high for some) will be no different than any other revitalization event, and the same rules will apply. It will be important to have visibility into your people, processes, business environment, and the technology you need to keep them all optimally operational.
It goes like this…
People. Your people will need goals long-term (3 to 5 years), mid-term (annual), and short-term (quarterly) to focus on. Overload them to keep them absorbed and achieving. Determine what training is required and get it for them. Be fair and be strategic. Trust and verify to ensure that they are resolute regarding delivery.
Processes. Innovation is rampant during difficult times. Review your key processes and match them to the new realities that are coming. You will have top-line processes such as sales, marketing, operations, finance, innovation, engineering, manufacturing, logistics, and you will have sub-processes inside of these key processes. Remember that a strategy is tactics in the right order. Make sure your processes flow effectively, and your people can oversee or apply them correctly.
Business Environment. You can’t control your environment, but you can predict and prepare for environmental changes. Be clear about what your competitors, customers, and vendors are up to. Be aware of the socioeconomic situation present and future. Use this information to craft your corporate innovation to stay ahead of the waves. Don’t debate the past… debate the future.
Technology. Technological improvements should only be implemented when you have your processes aligned and operating with good results. Technology is an enhancer… it should be implemented to speed things up. If your processes suck, bringing a technology accelerator will only get you to suck quicker.
I have seen many trends and many movements throughout my career, and there is a big difference. Trends are generally feigning, like fashion trends: slim pants this year, baggy pants next year. Movements are more foundational such as the movement from leather-soled shoes to rubber-soled shoes. Movements can change a market and be very disruptive.
Returning to the “new normal” with COVID-19 is a movement. It will require a full relook at your business to ensure that you can stay above the water, master the waves, and outperform the chop.
Chuck Bean, Executive Contributor Brainz Magazine
Chuck (Charlie) Bean started his business career at age 6, collecting golf balls at the local driving range for pennies. “I would spend every Saturday and Sunday making enough money to buy a bottle of pop or a candy bar in the concession,” tells Chuck soon after he was selling golf balls to players on the local course and even beer!
Fast forward, and Chuck was an award-winning sales professional. Management followed. Moving into the paper industry, Chuck carried on with regional and then national turnarounds, eventually named VP Sales and Service, overseeing a team of 180 inside and outside salespeople, managers, and directors.
Following his dream, he opened a consulting and training advisory. Chuck will tell you he has had a great ride. Besides having worked with over 400 companies and over 18,000 individuals, Chuck has consulted and guided some of Canada's biggest stars, including working as COO for one of the world's largest specialty energy service companies.
Today Chuck specializes in developing strategies and delivering training and coaching in leadership, sales, communication, business value building, and teamwork. He is no-nonsense and pragmatic and has helped people and corporations succeed for over 40 years. He will call a spade a spade and work quickly to understand, address, and help fix problems, identify opportunities and identify challenges.
He has developed business strategies for almost every geo-market. He has worked extensively in oil and gas, general industry, IT, electronics, dental, paper, chemical, wood products, and consumer packaged goods. He specializes in B2B and channel-type organizations.
He has authored/contributed to books with Dr. Stephen Covey, Dr. Deepak Chopra, and Dr. Ken Blanchard. Chuck also owns 6 tech start-ups currently in different levels of commercialization.
