Slides from Webinar that can be viewed here: https://app.livestorm.co/people2people-2/bold-brave-questions-to-ask-yourself-and-your-teams-to-co-create-more-resilient-digital-businesses
Coming to terms with the new normal of operating in a socially distanced world, what are the questions to be asking to help not only recover but also make your business more resilient to lockdowns and moving from one level to another.
This session is for professionals whose business is under stress and for professionals challenged to reinvent their careers in response to the COVID19 pandemic.
#adaptiveleadershipsessions #newnormalforbusiness #b2brevenuegeneration
Key takeaways
We’ll examine some of the key pathways to understanding what the new normal will be for your business, as the world moves out of lockdown.
Look at some real world examples of how digital innovation is developing new and more resilient forms of revenue, at a social distance.
Explore some of the tools available to help develop your own personal digital change strategy, so you are more professionally resilient to change.
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Bold and brave questions leaders should be asking themselves, and their teams, to co-create more resilient digital businesses.
1. Bold & brave questions
leaders should be asking themselves,
& their teams, to co-create more
resilient digital businesses.
2. HELPING ENTERPRISES…
Market at a social distance.
Co-create intelligent digital experiences.
Transform how businesses generate revenue.
@samuelmwilliams
3.
4.
5. TODAY…
1. Getting perspective on the challenge.
2. Putting this into context.
3. An example pathway out.
> Three bold and brave questions to ask.
7. “With countries accounting
for over 50% of world GDP in
lockdown, the collapse in
commercial activity is far
more severe than in previous
recessions.
The exit path from lockdowns
will be precarious, with
uneasy consumers, a stop-
start rhythm that inhibits
efficiency, and tricky new
health protocols.”
12. Victor Tseng – Pulmonary & Critical Care Physician: University Of Colorado.
2. “THE
SECOND
WAVE”.
13. History tells us every country,
state, & region will be different in
both their response & recovery.
1918
H1N1 INFLUENZA
PANDEMIC
vs
vs
Sweden NZ
Queensland Victoria
21. OK STEADY –
moderately affected,
but manageable
0-20% drop.
Products,
manufacturing,
online sales.
1.
JUST SURVIVING
- struggling to
stay afloat – more
than 30% drop.
Exporters, product
& services - with
no online sales.
2.
THRIVING – can’t
keep up with
demand – up on
last year.
Digital, online,
content based
business.
3. DROWNING -
Business has
disappeared for the
foreseeable future –
50-100% drop.
Tourism, travel,
retail.
4.
22. BUT…
1. Get prepared for the next waves, gradual restarts, stops.
2. There are new restrictions on budgets, headcount, travel.
3. Adapt to a new mode of working – remote working, space utilization, expectations.
4. See it as an opportunity to invest, divest, reorganize.
5. Hit the accelerator on digital initiatives, change of business models.
6. Fresh eyed view on business performance metrics – reexamining the risk, vs
performance, vs cost calculations, as well as compliance & tax.
1. OK STEADY “We are not out of the woods yet”
23. 1. The mission is to survive the next 2 years.
2. Hard choices have to be taken, with limited options.
3. You will have to roll your sleeves up & just get on with it.
4. Focus, staging, & process become key to getting to the other side.
5. Considered reinvention, leveraging your limited resources may be a pathway.
6. Finding digital revenue sources that you had perhaps dismissed become an option.
2. JUST SURVIVING
“There is light at the end of the tunnel”
AND…
24. 3. THRIVING
“A good problem to have”
1. Adapt to a new mode of working – remote working expectations, space utilization, compliance.
2. Stress test assumptions & get prepared for the next waves, gradual restarts, stops.
3. Empathy, tone, & compassion – will be your leadership go-to.
4. Recognise that the new normal will be different – complacency is your enemy. And supply chains
will continue to alter – especially for talent.
5. Hit the accelerator on digital initiatives, change of business models, more efficient processes – look
to invest in a socially supportive way.
6. Take a fresh eyed view on business performance metrics – reexamining the risk, vs performance,
vs cost calculations. Supporting a better balance.
AND…
25. STRATEGIES:
1. Wait it out.
2. Change tacks completely.
3. Choose both.
AND BE AWARE:
• It will play out over a longer time period.
• There will be different types of waves.
• New opportunity exists in the “new normal”.
4. DROWNING
“Choices in a storm”
38. Three big, bold & brave questions:
1.How will you sell and market in a socially
distant world?
2.How do you create more compelling,
meaningful, commercial digital experiences
for customers?
3.Question every assumption or risk there is in
your resourcing supply chain?
39. 1. Marketing & selling at a social distance.
2. Co-create intelligent digital experiences.
3. Transform how businesses generate revenue.
WAYS WE CAN HELP…
Editor's Notes
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Source Peter Cook. Thoughtleaders.co.au
Poll #1
Thinking about COVID-19 today, how long do you see the negative effects of it lasting?
1. We’re on the other side now and just need to get back to work.
2. Between 3-6 months or by Xmas.
4. About 12 months and it will be back to normal.
5. Up to 24 months.
6. More than 24 months.
Poll #2
How would you describe your business today:
1. STEADY: Things are just OK - we are moderately affected with up to 20% drop in business
2. SURVIVING: But only just - we are struggling to stay afloat - with more than a 30% drop in business
3. THRIVING: Struggling to keep up with demand - business is up on last year.
4. DROWNING: Having to shut shop for good or go into hibernation mode.
Being so far apart and yet so close together at the same time along with the fact that we're all in this together globally - means something quite different to what you might think from a marketing standpoint.
It means your marketplace just dramatically expanded – potentially - since your local market is just as socially distanced as your faraway market.
If we take that hairdressing example there is no difference between learning about cutting your own hair from a Greek barber or a barber from Geelong.
So long as that content online is relevant - you're actually quite happy to consume things from different locations. Keep this thought in mind – your marketplace has changed and got a whole lot bigger – but they probably going to want to consume in much lower value increments.
I guess what's interesting about this, is before the pandemic, these platforms were already coming into their own with the likes of YouTube and Instagram influencers and making money of a following- it's just that the pandemic is forcing us to dramatically and suddenly focus on this approach as a way of potentially making money.
I know we've thought that YouTube is for kids and millienials - that have too much time on their hands – it is suddenly the thing that many of us have now which is a lot of time – no commute, no time catching planes.
Another principle to perhaps consider in all of this - is instead of thinking about footfall past your retail store, or the size of your professional network in a B2B selling sense - the new normal is becoming web page traffic, YouTube channel watches and engagement, and Linkedin engagement - not just how many connections you have on LinkedIn but how many people are actually engaging with your content.
If you embrace this idea around digital footfall and start think how can I get people past your digital shop window - this by default will be global-traffic. And so long as you've got products and services and packages that people can buy and consume at a distance, then you're on a pathway to a more resilient, digital, revenue stream
Just to hint at what’s possible with this way of digital revenue generation. This is Ryan – he reviews toys and last year he earned US$26m.
Now I suppose not everybody is going to be able to do this - but there is hidden value out there and it's waiting to be discovered as a result of what's happened and it is going to form part of
the new normal.
I guess like back at the beginning of YouTube no one would have thought that you would be able to do unboxing videos of toys, with an eight-year-old kids and be making million dollars out of it.
I want to invite you to explore different ways in which you can disaggregate how you deliver value to clients and start to think about how you can build a different form of digital relationship over time.
With the example that we have here you can see at the bottom of the screen that they’re actually selling products of the back of learning how to cut your own hair.
And this could be everything from Clippers to scissors, to hair products and hair dye.
So it is worth considering the old game of business-to-business relationships selling - which leveraged who you knew, and your reputation that you earned from in person encounters - is evolving into one where value lies in the online relationship and following that you can build.
And it is reflected in your digital expertise and capability. Just like those Millennials, teenagers and hipsters you’ve possibly scoffed at.
Your propensity to produce and curate digital content, with a point of view, that you can then monetize in the form of socially distanced products services and packages like this hairdresser is going to become part of the new normal in B2B revenue generation.
Poll #3
What types of digital innovation are you working on?
1. Finding new ways to engage with clients at a distance
2. Taking business online to sell products or services online
3. Exploring radically new ways to engage and deliver products and services
4. Improving or automating existing processes, systems and facilities
5. Figuring out how to do more with less, or do things yourself.
6. Doesn’t apply to my situation.