I wonder what Peter Drucker would say about the current situation we are facing in our businesses. One thing I know is that he would be looking forward and not backward. We cannot change what has already happened. However, we can embrace lifelong learning and identify if we need to reinvent ourselves. First understand how you can add value to others. Only then will you have clients who will engage you or your company to grow beyond survival.
Many are talking about a new normal. There will be no more 'Normal' for many months and this current crisis is a catalyst for changing business models more frequently as consumer needs and buying habits keep evolving.
What ever you do, don't sit there wishing for how it was before. You must get your employees involved in how the business is going to operate in the future. They are the ones who are going to help you be successful, but first as a group you need to workout what you are aiming for.
Insights into a successful family business who understand the importance of their core value of compassion when tough decision are required to protect the business. In this particular company, I have attended every board meeting as an external advisor for the last ten years and have experienced a roller coaster ride of various economic conditions.
Bill Winter is a renowned family business advisor and facilitator of the hard to have family succession conversations.