It’s time for action. My top 10
So, how would you find your purpose? Ask the following questions – What’s important to you and why? What are you good at? How could the world be improved? Find the overlap. You will get it. Or, try answering another question: Assume, you have one billion $ in your bank account today. The stuff that you would do from tomorrow, is your purpose.
This would be a good time to re-assess and press the reset button.
Ambassador, Coach and Consultant- OpenExO
We wake up to unpleasant news every morning. It’s a number that we keep tracking through the day, that makes us stay at home and that makes us view the world with a different lens today. No country or individual is spared from the onslaught of COVID-19. Neither is any business or institution. We are grappling with an unprecedented healthcare crisis, and are clueless about the disruptive impact it will have in the near and distant future. My prayer – everybody stays safe and healthy and this virus gets off our planet at the soonest! And I am sure – this too shall pass!
Ok, let’s switch the conversation. If you look at Russia’s military planeloads of medical supplies being sent to European countries and the USA – what do you make of it? At the first level, it Is a great humanitarian gesture and which certainly is. But think hard, think again. It actually exposes the European Union’s failure to provide quick help to a member in crisis and gives President Putin a publicity coup at home and abroad. When Serbian President Vucic says “I sent a letter to President Xi, in which for the first time I officially called him not only a dear friend but also a brother, and not only my personal friend but also a friend and brother of this country”, it only reflects how political entrepreneurs are stepping up their presence and diplomacy at these turning points. They are clearly creating history!
Let’s now visualize the racing tracks of a Grand-Prix. The curvy turns are not only a delight for the eyes, but this is where speeding cars overtake others. This is where winners take on the losers. We don’t see this happen on straight paths! Do we? So, if COVID-19 poses significant and unforeseen turning points before us, why should we let them go waste? As is said, “Never let a good crisis go to waste”!
You can create history too! Because, you are startups! You are fearless! You create value by solving problems that have not been addressed yet or are being uniquely addressed. And there is plenty of problems to choose from today. The playing fields are getting levelled, since everyone is equally impacted and disruption is inevitable. And, it would not be about mere survival but about metamorphosis. Because, the social, economic, political conventions and baselines are being redrawn. The future is therefore largely unknown and will evolve from now on. While these sharp turning points will remain moments in history, a startup will have an opportunity to quickly navigate through these evolutionary steps and come out as winners.
So, what have you been thinking and what are your options? I would say only one – Move on, Fast! There are 2 possible scenarios. One, you were already on-track (pre-COVID), you had a product-market fit and your value proposition continues to stay very relevant. In that case, you need to ask a question “If you were starting the same venture today (post-COVID), how would you design it?” Do those changes and run with it. You would be fine by reconfiguring your business. Second, if the problem you were solving has lost much of the relevance (post-COVID) or the venture had yet not taken off, please re-examine the possible cognitive biases. Examine sunk-cost fallacy or the confirmation bias or the bandwagon effects and any other, as relevant. Then, you may need to move on and it’s a good time to pivot. Align your purpose with a new problem you would like to solve. It’s a fresh beginning with another problem, with a big difference. You have a tail wind and you could be the one ahead of others now!
I believe, resetting the course for a grown-up enterprise will be ten times difficult. That’s a conversation for another day. So, here is your one-in-a-million opportunity to change the world and win in the turns!
Ambassador, Coach and Consultant- OpenExO