Everyone must now act like a startup due to the sudden changes caused by the pandemic. To succeed during a crisis, companies should 1) identify hypotheses about how the world currently works and may work in the future, 2) test these hypotheses and accompanying tactics to understand what is known, and 3) adapt tactics that work and be ruthless about abandoning what no longer works, as the world is now different and past successes may not translate. Acting like a startup by pursuing this process of trial, learning, and change will help companies thrive during uncertain times.
7. 1. Identify your hypotheses
HERE’S HOW WE THINK THE WORLD
WORKS NOW
HERE’S WHAT WE THINK THE WORLD
WILL LOOK LIKE IN THE FUTURE
8. 2.Test your hypotheses and accompanying tactics
How do we know what we know?
How can we be ready for the new normal?
9. 3. Adapt what works
YOUR NEW TACTICS DRIVE
YOUR NEW STRATEGY
BE RUTHLESS ABOUT
WHAT NO LONGER WORKS
REMEMBER, THE WORLD IS DIFFERENT NOW. JUST BECAUSE
SOMETHING WORKED BEFORE DOESN’T MEAN IT WORKS NOW.
10. If your business world has
turned upside down, behave
like a startup!
