CEOs often forget that their company exists solely to solve the problems of their customers. And while “focus on customers,” isn’t a step only to be taken during an apocalypse, it has outsized importance when everything around us is changing.
This is the time to surround yourself with a support network. You need people to act as sounding boards, to answer questions, and to solve problems. You need people to connect with and keep you grounded.
This step is straight-up not about whether to communicate. It is about what to communicate. Stress is uncertainty about and the inability to affect the future, so telling stakeholders how bad the future might be without giving them something to do won’t make them feel any better.
I doubt you’ll read the rest of this post and have your mind blown. But I have yet to talk to a client this month who is going six-for-six on this list.
Do what you must to improve cash flow and insure survival. Once that’s done, figure out a way to capitalize. No one should put their business on hold for a year.
The only way to truly prove that a business idea is good is to launch it and make it successful. What is much, much easier is proving that a business idea is a bad one.