Strategic Leadership in Fearful Times
The real risk is holding on for too long
I took up rock climbing to confront my fear of heights.
I’d follow my planned route, stopping to decide on my next steps. Stopping for too long, usually out of fear, was always a mistake. Fear aroused the oldest part of my brain that screamed, “Any move other than right back down the way you came is dangerous.” I’d hold onto the rock for too long, and only look narrowly in front of me, missing potential steps. I’d exert more energy than was needed, sapping my power to move upwards, and eventually forcing me to retrace my steps.
We’re in the scariest economic time in our working lives (unless we worked in the Great Depression). Fearful, we hold tight to what worked in the past. The only next step we see is the age-old wisdom: “Cut costs and lower break-even points to conserve cash.” This advice is wise; it’s what strong operational management is all about. But it lacks strategic leadership.
Strategic leadership demands that you use the changes going on externally to position your company for stronger growth in the future. If you don’t change more than your cost structure in a downturn, you’re not bringing strategic leadership to bear on today’s opportunities. Business model innovation is job #1 to not just get through this recession but to position your company for where you want to be for the upturn.
What fears are keeping you from being a more strategic leader? What are you reading or learning to enhance your strategic leadership skills?
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For insight on business model innovation and business model strategy, read my recently released book, Beyond Price.
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Hi Kay, Best of luck with your new blog. In another sense as well, I think your photo captures one of the most serious challenges to strategic planning in business. You are so close to the action, it becomes hard to see where you’re at, so you lose your perspective.
Kay,
Brad just made me aware of your new blog. I love the look and feel. Good luck — more comments to follow in the days to come.
Cheers,
Bill
Thanks Brad. There are ways up the rock face in this recession, as you know. You must lean back from the rock to see the options to redefine what your business is all about. What are you doing with your business?
Bill, I’d welcome a guest post from you. Your ideas for “rennovating” a business model would be of value to my readers. Best regards, Kay
Hi Kay and Bill – My business has been in a more or less continual state of development since I started it in 2005. (Is that bad?) Today my focus is on content strategy, content optimization and business blog development. Those areas seem to be the best match between my skills and what the market tells me it needs. Am I on the right track or the wrong track do you think?
In an industry changing as rapidly as on-line communication/media the fact that your business is changing a lot does not concern me. My question would be: Who is your target market for your services? And what benefit do you bring them that they should chose you for content strategy, content optimization (are these both for blogs and/or for websites?) and blog business development. Kay