Today’s Topic

FNB’s CEO has not made use of either an office, or a personal car for at least 5 years.

How will your operational circumstances change after Covid-19?

It’s already happening

Twitter told employees they can work from home permanentlyEven before the COVID-19 outbreak, Dorsey had voiced plans to encourage a "distributed workforce" with more remote employees living outside San Francisco, where the company is headquartered

Google, Microsoft, Facebook, and Amazon – employees can keep working from home through the fall, even if their offices reopen sooner

Faith and Discipline

“You must maintain unwavering faith that you can and will prevail in the end, regardless of the

difficulties,

and at the same timehave the discipline to confront the most brutal facts

of your current reality, whatever they might be”Admiral James Stockdale

Brutal Reality

Will pass

Experts – with us for some time; till end 2021

Second wave

Reorganize – every place you can put your foot down; cast your eyes over

Focus only on the negative – risk of missing the opportunities

Which Mode are you in?

Survival Mode

Navigation Mode – Finding the best path forward

Opportunity Time

Decide…

Writer? Character?

How To Make The Right Decision

“It's not about making the right choice.It's about making a choice and making it right.” – J.R. Rim

Identify your goal, your destinationGet the map to your destinationHave a planBe agile – continuous planningAccept you don’t, and will NEVER know everything – PartnersGet tools to assist with the aboveCommit to lifelong learning – Believability Weighting

Critical Requirements

TrustConfidence

PartnersTools

Make sure both your microscope and telescope are IN FOCUS

Critical Requirements (Cont.)

Short Term & Internal Long Term & External

The concept of an alliance of business owners and other high-powered peers was introduced in the book Think and Grow Rich by Napoleon Hill

“No individual has sufficient experience, education, native ability and knowledge to insure the accumulation of a great fortune, without the cooperation of other people”

Partners

Ray Dalio

Partners (Cont.)

Ray Dalio

Use them to Believability Weight your decision making

What are “Operations”?

Customer ServiceEmployee DevelopmentFinancesHR ProceduresInformation TechnologyInternal CommunicationsMarketingOperationsPlanningSales

Interactions

Interactions

It is impossible not to interact with humans and/or technology

It is impossible not to benefit from the interaction of others

Try and imagine a scenario…

Interactions (Cont.)

“Buyers of meeting solutions are increasingly interested in converged solutions that offer embedded audio, along with video and collaborative capabilities

Meeting technologies have developed… to allow users to benefit from the collaborative experiences whether they are using videoconference room systems, sitting at their desks using desktop or web clients, or accessing from mobile devices”

“Magic Quadrant for Meeting Solutions” based on the 2019 Gartner Digital Workplace Consumer Survey

Interactions (Cont.)

Gartner asked the included vendors’ reference customers to list the key desired business outcomes for choosing their meeting solution.Top 5:1. Creating operational efficiencies2. Cost management3. Driving innovation4. Improving business process agility5. Enhancing decision making

“Magic Quadrant for Meeting Solutions” based on the 2019 Gartner Digital Workplace Consumer Survey

Customer Service

Virtual shopping

Web site is designed to provide information and service to our customers

Check before going to store

Payment systems

Employee Development

Measure employee performance objectively

Have effective performance evaluations

Working hours

Training

Finances

Clearly defined Budget and Cash Flow

Management Accounting

Retained Income

Scenario Planning – ongoing

HR Procedures

Employment

KPIs

CTC Variables

Performance management process

Information Technologies

Mobility

Create operational efficiencies

Cost management

Enhancing decision making (interaction)

Internal Communications

Face-to-face vs. Virtual

Video vs. Real-time

Aimed at ensuring understanding by all employees

Many available platforms

Marketing

Written plan

UVP

Use the optimum marketing and distribution channel/s for getting product to our customers

Use an integrated approach to marketing products/services

Operations

Keep up with changes in technology

Review in-house work for outsourcing, to take advantage of companies that can do so more effectively and efficiently

Production and employee scheduling and tracking processes to control labor costs, and for effective resource scheduling

Integrate continuous improvement into all areas and monitor effectiveness

Planning

Written Strategic Plan

Identified strengths, weaknesses, opportunities and threats

Scenario planning before deciding on a strategic direction

90 Day Plans

Sales

Have a sales strategy focused on your target market

Have a written plan for increasing sales

Prepared sales presentation (Template)

Identified and measured key sales metrics (leads, sales, sales cycle time, re-orders, etc.)

Summary

Get intimate with your FinancesUnderstand How your Customers are ImpactedAssess your Customers & Impact on RevenueContinue working with non-paying clients?Review your Sales PipelineReview Revenue ForecastsNew Sales PlanNew Marketing planIdentify New Emerging Opportunities

(Cont.)

Summary (Cont.)

EmploymentOfficesParkingAccessSafetySecurityInsuranceTravel

OutsourcingInsourcingImprove and refine OperationsFunctional remote offices setupProductivityCommunication

In Closing

You can’t blame anyone for being in this position next year this time,

and next time…