Change ahead: How do you respond?
Imagine you are driving through a snowstorm at night. The snow is swirling in your headlights, the lines on the road are obscured, the road is slippery.
How do you respond?
Do you speed up and try to get through the snow quickly so that you can get to your destination before it gets worse?
Or do you slow down, turn off the radio, ask for help from your passengers, and focus on the road right in front of you?
Leading through the uncertainty of 2022 is like driving through a snowstorm
A recent report published by AlixPartners found that “94% of executives say their business models need to change within the next three years — but 57% fear their company isn’t adapting fast enough.”
Think about that for a minute.
Nearly every executive in the survey (mostly C-suite folks at Private Equity owned companies) believes that they need to fundamentally change their business in the next three years.
Aside: Do you agree with them? How fundamentally do you think your business model needs to change?
Their response is that they want everyone in their organization to speed up.
I have to ask;
- How clear are they about what that new business model looks like?
- Have they talked to their customers to understand where their client’s business is going? (The clients are changing their models too, right?)
- How well have they communicated what they see and where they want to go to their team?
So, if you see a need to change your company’s business model, how will you do it? Pedal to the floor, or taking time to get clarity and bring folks along?