| The sky is falling. The sky is not falling. We are | | | | exercising leadership, and that is exactly what your |
| doomed. We are fine. Confused? You are not alone. | | | | employees want. When the House of |
| The economic roller coaster of September, 2008 | | | | Representatives failed to pass the bailout bill on |
| presents unique challenges. We simply do not know | | | | September 29, citizens nationwide decried the lack of |
| what exactly is going to happen and that uncertainly | | | | leadership in Washington. You need to lead today. |
| is paralyzing our economy. It is also paralyzing | | | | More than ever, your people want to know the |
| managers. McCain and Obama are campaigning for | | | | score, and they want you to tell them about it. |
| change; you need to campaign for a plan--a plan that | | | | Second, answering the above questions will allow you |
| answers the question, "What if?" | | | | to be more flexible and able to respond quicker to |
| Businesses all over the world are worrying about | | | | your clients. When it comes time to act, you will be |
| what might happen. But, now is not the time to | | | | ready. Other firms will be just beginning their planning, |
| worry; now is the time to develop a plan. In the | | | | while you will already have a plan in place. You will get |
| Marines, we did contingency planning. We would pick | | | | the "first movers" advantage. This can put new |
| the three most-likely scenarios for a situation we | | | | money in your pocket or allow you to keep the |
| were facing, and then develop plans for each one. | | | | money you already have. |
| Our job was to execute at a moment's notice. We | | | | The process is what matters. These contingency |
| planned while we had time, and then implemented | | | | conversations are not lunchroom chatter or filler at a |
| one of those plans based on the situation we finally | | | | staff meeting. They are written plans that you |
| did face. Rather than agonizing about impending | | | | create, refine, record, and store for use. They're like |
| doom, I suggest you gather your team and answer | | | | the fire extinguisher in the glass case: ready when |
| the following three questions: | | | | you need it. |
| - What if the economy recovers and business is | | | | One of the axioms of military combat is, "No plan |
| great for us in the next 6 months? | | | | survives contact with the enemy." Some would use |
| - What if the economy stalls and our business | | | | that as an excuse to not plan. "Why bother? It is |
| revenue significantly decreases in the next 6 months? | | | | going to change anyway." But, the smarter business |
| - What if our business remains stable despite the | | | | leader knows that the power is in the planning, not in |
| external fluctuations in the economy? | | | | the plan. That's where you learn, where you think |
| Planning and answering these questions will help you | | | | ahead, brace for the worst, and work together to |
| in the following important ways: | | | | achieve a goal. The plan will change but you will be |
| First, it will give your team confidence. Inaction | | | | ready for whatever you face because you asked |
| breeds fear. Action creates energy and gives people | | | | the question, "What if? |
| a sense of control over their destiny. You will be | | | | |