On Thursday, April 16, 2020, best-selling author and tech expert Amber McArthur, better known as Amber Mac, joined us and shared her advice about managing during the COVID-19 pandemic.
Amber started her career in the tech industry during the DOT-COM boom, and then went on to join Microsoft. In 2006 she started her own digital agency where her first client was Tony Robbins, and her client list now includes Microsoft, Google, GE, Paypal, Nintendo and many others. She is the author of two bestselling books and recently launched a new podcast called The AI Effect.
The 5 Step Framework for Relentless Adaptation
We are in a time of unprecedented change, and for businesses, the choices are simply to either adapt or die. This framework will ensure that you control what is controllable in the most critical areas to give yourself the best chance to survive, and possibly even put yourself a stronger position post-COVID.
During the episode, Amber walked through the model:
- Prioritize Health – Amber explained that this element of the model is shown at the bottom because it is the foundation of everything else. Without personal health, there is no way to execute on the other elements. Keeping yourself healthy involves physical, mental, and spiritual maintenance each day.
- Protect Finances – This element includes looking for each and every opportunity to reduce costs, optimize the cash-conversion-cycle, and tap into programs from government and financial institutions.
- Nurture Relationships – Keep communicating regularly with all stakeholders in your business. This means checking in with customers, employees and key vendors weekly with authenticity and care.
- Chase Opportunities – In the past some things may have been non-negotiable, but under the current circumstances we need to be more flexible than ever. Flexibility in price, financing, terms, service scope, add-ons; all of these are on the table. This is also a great time to build goodwill with many stakeholders, even competitors that will pay dividends on the other side.
- Monitor Realities – Across the board be mindful that the landscape is changing daily. Monitor these carefully, both inside and outside the organization, and be willing to change course on short notice.
To be successful, work with your leadership team using this framework, and maybe even assign one member to each of the 5-elements to act as a steward. This will give you the best chance of surviving and thriving.
If you would like more information about managing through COVID-19, please reach out via our contact form.
You can watch the entire episode below. Further, if you are interested in this and other topics to unleash the potential of your business, you can watch all the episodes of Unleashed by subscribing to our Youtube channel.