This document discusses strategies for businesses to bounce forward during times of crisis and adversity. It outlines four key strategies: 1) View crisis as an opportunity to subvert paradigms and create new opportunities. 2) Nurture a winning team by aligning teams to a shared vision and celebrating small wins. 3) Use the RACE framework to reduce unnecessary factors, augment differentiators, create new offerings, and eliminate redundant factors. 4) Leverage positivity through effective communication, customer success initiatives, and recognition programs to fuel success. The overall message is that businesses must be agile and resilient during difficult times by applying these strategies to bounce forward rather than back.
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⢠Subvert the paradigm â you are not alone!
⢠Believe in yourself â there is no option to mental
resilience
⢠You need to have a PHD Degree to create
opportunities;
â Passion: to make a difference
â Hunger: How badly you want to win?
â Discipline: Being persistence is the key
Bounce 01: Crisis creates opportunity
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⢠Proximity is power â you are the average of five
people around you
⢠Remain enthusiastic and nurture optimism
⢠Identify your TRUE NORTH â align teams and
evolve a shared vision for next one year
⢠You are the captain of the ship â Lead from front,
back and within
⢠Most importantly â celebrate small wins!
Bounce 02: Nurture A Winning Team
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Which factors should be
reduced
well below industryâs
standards?
REDUCE
Which factors should be
augmented well above industryâs
standards?
AUGMENT
Which factors should be created
that the industry has never
offered?
CREATE
Which factors which industry has
long competed on should be
eliminated?
ELIMINATE
R
A
C
E
Bounce 03: Letâs RACE with R.A.C.E.
Adapted from Prof. W. Chan Kim of INSEAD & HBR
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⢠Brainstorm with the teams and list out all the
probable actions for R.A.C.E.
⢠Identify high impact actions â remember the
power of few!
⢠Create a 13 weeks detailed action plan â What,
Who, By When?
⢠How are you going to monitor the success? â
Measure it to improve it!
⢠Create a structured review
Bounce 03: Letâs RACE with R.A.C.E.
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⢠Show them the big picture first! â Effective
Communication
⢠Create a cross functional âCustomer Successâ team
to identify ways of creating âCustomer Delightâ
⢠Have a morning huddle â 10 mins standing
meeting with your leadership team and give a
positive push to achieve results
⢠Establish structured reward and recognition
mechanism and promote transparency
Bounce 04: Leverage positivity to fuel success