Do you have what it takes? The 3 Crucial Leadership Strengths

Vision. Strategy. Talent.

While leaders need to be strong in several key areas, there is a reason these three are at the top.

VISION

Right now your people need you to clearly communicate your positive vision on where the organization is going.  They know what they do.  They are landscapers, construction workers, plumbers, and lab technicians.  They know their jobs and they know how to do those jobs.  They are skilled, talented, and motivated. What they need from you now is to know where they and the organization are going.  It is up to you to provide that guidance and direction.

STRATEGY

COVID-19 is forcing all of us to make changes in how we do business. That includes looking around at what we were doing that was okay, but needs to be better.  Good enough then – before COVID – is not enough now.

How do you start reimagining your strategy?

1. Look at your competitors. What do they do better than you do? How are they providing a better service?
2. Product differentiation. What do you do better or differently than others? You don’t always have to be bigger, better, or cheaper. You do need to be different.  Hotels and motels all basically provide the same service – a place to rest for a few hours.  How they provide that service and the different price points are their differentiating features.  What do you do differently that attracts people to you?
3. Market expansion. While you need to know what your competitors are doing, you’ll also need to consider who might move into your market share. How many new companies have decided they are now making masks?
4. Barriers to entry. Products and service offerings are changing quickly. Do you need to move into another market?  Are you positioned to make that move?  What are the obstacles, or barriers to entry?  Assess both your current market and your potential new market. 
   Ask questions such as:
   What do my current customers need now?
   What will my current customers need that I am uniquely positioned to provide?

   What areas are my competitors moving into now?

5. Assess your price points. Competing solely on price is a race to the bottom. Now is a time to be competitive, communicate your value, and be the trusted resource your customers know and rely on for a good quality product, pleasant interactions, and an easy buying process. People pay more for all three of those.

TALENT

Where will you find the talent you need to move your organization into the future?  Do you have the right people with the right skill sets now?  Do you have people who will continue to evolve and develop their talents and competencies?

With around 22 million Americans filing for unemployment, this crisis has been one of the largest talent shake ups in the last fifty years. Many good people with amazing talent are suddenly without work.  If you are making personnel changes now, you need a plan for getting the best people on your team before your competition gets them first.

The executives I am talking to right now are refocusing their efforts to engage their teams and customers with a meaningful vision of where they want to be moving forward, they are developing smart strategies, and they are looking hard at their talent pool and what they need moving into the future.  This is the time to reassess, re-engage, reimagine, and rebuild.  This takes strong leaders who are willing to take decisive action.