When do you start shifting from a defensive posture to offence? That’s a great question and the answer is going to be based on what you hear from your customers and your team.
Starting the rebuilding process requires foundations to settle underneath you first. What factors have settled for you so far? How is the team settling in? Are they focused on the tasks at hand, do they have clear direction? If they are lacking clear direction, that’s a leadership issue, not a team issue. During this time, long term plans and last years forecast have been thrown out the window.
Start instead to work on 30 day plans. Track the results week to week and iterate as you go. Double down on what’s working and quickly change what isn’t working. A huge percentage of public companies have “pulled guidance” on future quarter/year forecasts. The general theme is that “we just don’t know enough” to offer forward looking guidance, we’re not in business as usual mode anymore. If they don’t have the data, you don’t either.
Learn as you go. Set the example and help your team become a learning organization. I’ve added a post below from the NFX team about how to be a deliberate learning organization.
There’s are two contrasting articles on “time to build” below. The first is from Marc Andreessen, the second, a rebuttal from VOX (sorry to my International readers for the US centric approach on this one). I seldom weigh in on policy or politics, but I thought both articles captured a challenge that I believe entrepreneurs can help solve. I realize for some areas of business we need permission, but as founders, permission has never been the thing we have waited for before taking action. Here are some interesting reads from this week