COVID19: Winners, Losers and New Business Opportunities
The world seems a lot different today than just 30 days ago.
Global markets have taken a massive plunge, schools have shut down globally, shopping malls have closed, the NBA has suspended its season, the Tokyo Olympics have been moved 2021, almost everybody who can manage it is working from home (that’s if they haven’t been let go), and public gatherings have been outlawed — it’s like nothing we’ve seen since perhaps World War 2.
I spoke business survival strategies with Steve Blank for an episode of the Future Squared podcast today. In response to the crisis, he urged leaders to first take stock of their runway, then ask themselves if this crisis is a three-month, one-year, or three-year problem, and adapt accordingly.
The shorter the runway and/or the longer the problem, the more drastic the action that leaders need to take.
Value networks around the world have been disrupted. As a result, previously true assumptions underpinning business models— say, customer appetite and ability to pay — might now be false.
