Chuck Fandos, Chief Strategy Officer for The Pebble Group, joined us to help our Partners’ owners and key management reimagine what their companies will look like post-pandemic. Chuck provided reassurance to the leadership teams that it’s okay to say, “I don’t know” when presented with questions about the future, since we’re all in unprecedented times. While there is unfortunately no manual on how to manage through a pandemic and beyond, he mapped out over a dozen areas of business to take into consideration.
Like many presenters we’ve had join us for our REBOUND-20 series, Chuck encouraged leaders to take the disruption of COVID-19 and use it as an opportunity to reinvent the parts of the company that could use some shaking up. Creativity is an integral part of this process, and he even referred to his comprehensive guide as a “paint by number” for business to emphasize the importance of being creative and thinking outside the box.
For companies that have never created or stuck to a defined business plan, now is the time to test it out. It’s crucial to set and assign measurable goals among the leadership in a company and hold those departments accountable for completing the tasks involved and reporting on them. Set defined roles for all employees at your company. This creates a level of accountability and transparency that can make a good company great and set it apart from competitors in the market.
As many companies move toward more permanent work-from-home policies, defining company culture in a virtual environment and keeping communication lines open will be more essential than ever before. Take time to think about what your company culture was before and what you want it to be going forward. How will you project this culture outwardly, especially in the event that you’re doing entirely remote interviews to fill new positions? Will potential candidates be able to get a good feel for your culture and will you be able to easily decide if they fit in well? As many good candidates find themselves out of work, strategically hiring the best people will inevitably serve your company well moving forward.
Chuck emphasized being bold and being open when painting this new picture of business, and keeping in mind that quality over quantity is a good principle to stand by. Moving forward, use the challenges that COVID-19 has presented as a starting point for your next phase of business and take full advantage of the opportunity to reinvent and reimagine all aspects of your company, from the broader culture down to individual roles.