How long has it been since you were on a plane? At one point I felt more at home at an airport than in my own backyard!
However, last week I took my first flight since the lockdown. What I didn’t expect was an “ah-ha” moment about living with risk.
Yes, the process of flying felt familiar, but there were plenty of COVID changes:
· Masks and hand sanitizer at every turn
· Only 10 socially distanced passengers boarding at a time
· The flight attendant’s reminder to “remove your COVID mask before putting on your oxygen mask” if we lost altitude.
These were layered on top of precautions we somehow now find “normal”:· Security screening for weapons and water bottles· De-icing to protect us from inclement weather· Flotation devices for the “unlikely event of a water landing.”
Then, one simple precaution jumped out at me: “Buckle your seat belts in case of sudden turbulence*…
*Turbulence: the quality of being turbulent, characterized by conflict, disorder, or confusion; not controlled or calm.
The underlying message from the crew was this: “Things might get a little bumpy — but we’re going to be ready.”
2021 has already provided plenty of turbulence :
o COVID dynamics continuing to impact operations, resources, and revenues
o Cyber-attacks and threats worse than experts had imagined
o A myriad of new federal policies that could dramatically change business models.
These represent new challenges as well as new windows of opportunity.
But what kind of “seat belt” do YOU have in place if things get a little bumpy?
In a turbulent environment, decision-making gets more complex. People get concerned and confused about what the changes might mean, and what actions will be required.
In my work with CEOs and boards making a change in their strategy, I encourage leaders to openly talk about risk and “what if’s” with employees, supporters, funders, and partners.
Whether you’re pivoting because your current strategy isn’t working, or shifting direction to seize a new opportunity — taking a systematic approach to identify and manage risk can actually build confidence, alignment, and accelerate results.
A rhythm of talking about risk can serve as a “seat belt” to help you lead through turbulence.
Bharat Dave is a former Fortune 500 executive and serial entrepreneur who now mentors executives. When it comes to managing risk, he guides:“If you’re going to spend two days to plan your year, spend at least two hours talking about your risks and how you’d handle them. It can actually give you and your team new energy you didn’t think you had.”
Alan Iny, a partner with the Boston Consulting Group, advises leaders to intentionally build what he calls “your uncertainty advantage“: “Leaders need to “become better at detecting signals, more decisive in acting on them, and more proactive in fostering resilience. Rather than seeking to eradicate uncertainty, top-performing organizations create the conditions for living with it successfully.”
So how do you start? How about trying this at your next planning session:
- “Scan for signals”: Ask everyone to share one observation about changes they’re seeing (Customer needs? Regulation? Technology? Supplier processes? Competitors?) What risks — disruptions or windows of opportunity — might these changes imply? Make a list of risks you want to investigate further.
- “Play the movie backward”: Select one risk and envision the future having successfully navigated it. Now, rewind that story! Look for one thing you “did” differently that enabled your organization to better address risk down the road. See if there’s a “de-risking building block” you could implement today.
Talking openly about risk can build a more resilient organization.
Instead of getting overly invested in “The Perfect Plan“, you and your team can align and move forward with “The Plan For Now,” taking imperfect action that is:
o grounded in your organization’s purpose
o clear on the problem to be solved
o continually learning what works and what doesn’t
o scanning for changes in your landscape
o evaluating new options along the way
o ready to make decisions and act quickly when needed.
Yes, 2021 may continue to be turbulent. But with a systematic approach to living with risk, you too can lead with the calming message: “Things might get a little bumpy — but we’re going to be ready!” Safe travels! –Susan
P.S. If you’re a leader of an organization interested in ways to de-risk your strategy, learn more about the Changemakers’ De-Risk System for Impact. It can prompt some good dialogue with your team. And let me know if you’d like to chat about your own situation!
Susan Schramm, Founder and Principal, Go to Market Impact LLC
+1(847)778-0123 susan.schramm@gotomarketimpact.com
