So, 2020 was a bit of a shit show.
Let’s not kid ourselves; last year was one most of us would like to forget. But simply putting it behind us might not be the responsible thing to do. And we definitely should not look for a return to pre-pandemic 2020 normal, because that state of being doesn’t exist anymore. It’s gone.
Last year was disruptive. Not only did we get saddled with a global pandemic that had serious implications on every aspect of our lives, but many were suggesting our economy was meandering towards a recession and that a hard market was visible on the horizon. We can blame the pandemic for the economic hardships we’re dealing with now, or we can take the view that it may have been the catalyst we needed to get ahead of – or at the very least hop on and ride – the disruption wave before it swallows us whole.
It’s almost irresponsible to think that what you did to get to where you are now is what will get you to where you need to be next. Businesses are built to deliver the results they currently deliver. Different results require doing business differently. Bring forward lessons learned from 2020’s shit show and recognize the way forward will require more and it’s going to mean a lot of change.
Accept it, embrace it and let’s get on with it.
The reason it’s so difficult for organizations to take advantage of disruption is because most existing business models, processes and the people that made them good at what they did are the very things that hold them back from doing what they need to do next to survive and get ahead of what’s coming.
Legacy, credentials and past performance are deceiving and can provide a false sense of confidence that you’re ready for what’s next. The consumers that built our businesses have changed. They have different expectations. They expect a different relationship with brands and if we don’t get it right, they’ll walk. And we can’t blame them for that as they’re in the shit show too.
For example, spending the last five years building up certain capabilities, products or services only to realize they’re no longer relevant or don’t have the same potential for success as you’d planned for is the reality for many organizations.
Letting go and walking away from something you’re so invested in is hard, but it may be necessary. Learn from it and apply it to what you need to do to get through what is coming.
In the following weeks, we’ll share some insights based on our discussions with leaders across several different industries for how 2021 will require some new thinking on how brands engage with and provide value to their customers.
So, buckle up and get on board; we’re going to share how to ride this out so you’re not just surviving, but actually doing the things that will get you ahead in the long run.
Article by Dave Cliche, President & CEO at TMD