Navigating the Great Pause of 2020

4/10/2020

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With some of us four weeks or more into a sea change in our business and personal lives, a business check-up might be long overdue (as are haircuts, gym visits and more). This new normal is evolving rapidly; it calls for a different approach for many Enterprise Software managers. One role of a Leader or Founder is to show your people how to adapt and thrive with skills and mindsets they might've not known they possess.

Enjoy!

Mike Perry

1.212.472.5858

[email protected]

Navigating the Great Pause of 2020

Ten and twenty years from now some of us will look back on this event as the catalyst for huge life changes - health, family, societal, our life purpose - some discovered, others permanently altered or rapidly accelerated. As business leaders, we can be a positive catalyst for our People - employees, customers, prospective customers, partners, vendors, investors.

Some practical tips you might be doing already or worth considering.

1. Show Calm, Empathy, build Resilience
In the face of uncertainty and disruption, you don't have to have all the answers. Focus on the known,

not the models. The future will reveal itself daily (or hourly as the case may be). Fearful and anxious people want to feel certainty and control. Employees want to know that their job is safe - for a while. Many are unaware of their abilities to adapt and be resilient; you can guide them and encourage them to push through their fear.

2. Re-evaluate Anything
If you've felt that a system, a process or cohort was sub-optimal or broken before, this is the time to scrutinize, reassess and re-tool. Now, more than ever, your people will be very open-minded and less territorial or resistant to big changes. Especially if they understand the logic and know it is necessary for the company/departmental to survive or thrive. From work assignments, to pay plans, to silos, informal orgs, WFH, nearly everyone is willing to wear more hats, rethink, and pitch in to help others.

3. Have Plans
As of this writing, the outcome and timing of recovery is unclear. Therefore, the importance of creating multiple plans, or What-If scenarios. You’ll want to evaluate the new health of your market – your clients’ individual industry, prospects, persona, competitors, suppliers, employees. Does this reshaped marketplace really need your product or service? Should you or can you pivot into a new product-market? What will your financial condition allow, and how can it be improved? This is not a static exercise; it will be evolving in real-time and so you want to consider new data as it arrives. Stay laser focused on your micro-economy, rather than the overall economy. We know recoveries are usually spotty, not evenly distributed.

4. Talk, Talk, Talk to Key People
Leaders, Customers, Key Staff, Investors, Industry Influencers - are more available and accessible now than ever, (as long as you aren’t bothered by babies, dogs, bedhead and other WFH realities). Customers and p

rospects will appreciate a collaborative, in-the-foxhole approach. Board members, Industry leaders and others are more open to sharing ideas, identifying opportunities, offering introductions and other tangible support. For us WFH experts and veteran managers of remote teams, your expertise and management tips could be valuable to your peer department heads and customers who are newbies adjusting to their newly decentralized teams.

5. Keep them Busy
Most employees still desire the routine and rewards of accomplishing work, almost secondary in some cases to getting paid. Your WFH staff can be highly productive given cloud-enabled apps. The pivots or re-tooling options mentioned above can be delegated right now. Salespeople: can reassess territory plans, clean up their Salesforce, rehearse product presentations (Zoom video competition, anyone?). Marketers can research new markets, enhance and better-segment their ABM systems, redesign messaging and branding to acknowledge The Crisis. Product management can bui

ld and catch up on enhancing product. Employees are now extra-motivated to show value to their organization. They know there could be job cuts, and a job market recovery could be delayed.

See who rises up, takes initiative and shows exceptional leadership qualities. A McKinsey study shows the value of a Network of Teams approach with specific behaviors and mindsets. Lean on your go-to leaders. Share as much as possible and encourage your teams to do so.

Final words
Adversity reveals one’s true character, including your own. Let it blossom this spring.

This might sound premature, but I’ll say it anyway: For the bold believers, this Crisis or Pause will serve as a gigantic reset button, allowing them to leapfrog competitors, gobble up market share and execute game-changing new strategies, products, services. The World's game board has been reshuffled - stake your claim. The past means nothing. Today it’s all about the future. How many Recession Inventions (i.e. iPod after 9/11) will we be talking about years from now?

Most importantly, may your family, those important to you, and our fellow humanity be healthy, strong and safe as possible through this unique time in history.

Kindly,
-Mike Perry
[email protected]
1.212.472.5858

I have been engaging with and surveying Enterprise Software Growth leaders throughout this COVID crisis. For those insights, or as a confidential sounding board, call me or book calendar openings here.
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Mike Perry is sought by leaders and founders in venture-backed Enterprise Software early-stage and growth who are unsatisfied with the model and results of their Headhunter choices. ProSource Management operates a client-centric model which commits to results and deeper level of engagement, without being time-consuming. His 15 years of Enterprise Software Sales experience inform this solutions-oriented and project approach to magnetizing the best people to your opportunity.
To discover how this process can benefit your organization, visit www.prosourcemgmt.com or simply reply to this email or call Mike at +1.212-472-5858.