TEN LESSONS FOR CRISIS LEADERS
One event, three change the world the scenarios! Little did I know when I wrote this paper only six weeks ago that a single event coronavirus could single-handedly trigger three of the scenarios I described. So what are the lessons for leaders? Here's my top ten:
1. Always expect the unexpected - the only certainty about your plans is that they will be wrong
2. Cash is king - cash buys time and buys flexibility
3. Expect the worst, hope for the best
4. You can't mitigate all the impacts - there will always be pain, sometimes significant. The best accept that and do their best to live through it
5. Think twice - but fast. Don't react to every supposed data point. As Reagan said, "Trust but verify"
6. Get your priorities right - focus on what matters most
7. Your ecosystem matters as much as your own organisation - employees, customers, suppliers. In fact they matter more when the turnaround begins.
8. Something like this WILL happen again so learn the lessons now
9. Family still comes first
10. One day we will reminisce about where we were and what we did and it wont seem so bad