Traits to focus on Post Covid-19
View(s):Sri Lanka’s economic growth which was 2.6% in 2019 will drop down to a 0.5% in 2020 is the latest estimate coming coming in from World Bank. However, the reality in the business world is that we must be focussed to the industry that we are operating in and develop sharp strategies to keep the consumer to our brand. This is the ruthless focus that will be required to stay in business and keep the organization that we serve alive.
Let me share the keep traits that are required to survive in business post Covid. Why I say Post Covid is because, Sri Lanka cannot continue to be on the lockdown approach.
We have to be open to business given that almost half of the country has not reported any Covid-19 cases and no reported symptom related patients. It’s good if Sri Lanka can continue to be on lockdown mode for at least a month, but the economy needs to revived so that the country can avert a financial crisis due to the private sector not being able to function.
So the reality is that we have to practice the ‘ Hammer and Dance theory’. Meaning from lockdown mode to allowing the people to get back to the Dance their used to- WORK. Hence the name ‘ Hammer and Dance’.
1) Simple in the thinking
If you want to be successful in the ‘ Post Covid’ era, be succinct. Use short words, short sentences in your briefing. This will require deep analysis and clear thinking so that it transfers to simple directions with logic. Stay focussed to this new behaviour required. Practice this diligently and you will see people commenting ‘ he is very impactful’.
2) Embrace a functional life
Let’s accept this, the old ways of working is not going to work. May be you may have had a flamboyant lifestyle but now you will have to be down to earth and functional in your new way of life. The way you eat, drink and indulge in your hobbies will have to be very functional given the ‘ obsession we will have on staying away from germs’. This will include in the way you dress and the products you engage.
3) Innovate as a way of life
You will see that the companies that innovate will stay in business. Hence you will have to be very sensitive towards criticism. That is where the opportunity is. Contradictions, opposing views will be very trendy and this will give birth to innovation. So be ready to shift quickly. Be agile. Don’t be fixed in your ideas.
4) Ecosystem
There is so much of negativity in the supply chain it’s important to be focussed to your eco system. Cut the information that is not relevant to your business or your life. You must be ruthless on this issue as if not it will affect the business moral and your own confidence level.
5) Strong Learner
The most successful business leader post Covid will be ‘ strong learner’. You have to read a lot of what’s happening in other countries and pick up best practices. You must keep the ear to the ground so that you can quickly adopt to the situation. Strong learners will be better equipped to deal with the organization’s ability to deal with its next wave of challenges.
6) Unite the team to new task
You will see that the real task of a CEO of today will not be on business sense but on how you can motivate people to come to work, stretch from their comfort zones at the place of work ( especially if working remotely) given the fear of Covid. You must talk to the staff members regularly and also give feedback. Being the chief motivator will be your new destination. Not CEO.
7) Keep the high standard
It’s very important not to reduce on your standards. Keep the Goals high but work on you proposition to the consumer. Make your brands more relevant given the fear factor of the virus. This will require to maintain the skill set. If required do some training. Do not cut the training budget. In the next six months this situation will be part of history.
The writer Dr Rohantha Athukorala a business professional who has been actively involved in the Sri Lankan economy during the 2008 global economic down. He heads an Regional Artificial Intelligence company for Sri Lanka, Maldives and Pakistan.