Leading in Challenging Times Virtual Executive Summit
To bring timely, actionable data and insights, the Vistage Executive Summit will be presented as live, online Virtual Sessions with keynote speakers.
These are unprecedented times. There has never been a better time to be part of the Vistage community and leverage the resources and support available. The COVID-19 outbreak precludes us all from meeting in person this year, however, please join us for a unique Summit experience from the comfort and safety of your own home.
Matthew will talk about his new book Rebel Ideas
Where do the best ideas come from? And how do we apply these ideas to the problems we face – leading a team, at work, in the education of our children, and in the biggest shared challenges of our age: rising obesity, terrorism and climate change? In this bold and inspiring session, Matthew argues that individual intelligence is no longer enough; that the only way to tackle these complex problems is to harness the power of ‘cognitive diversity’
The Post-COVID Recovery Will be Quantum: Preparing for the Upside
I have found that people running SMEs are especially nervous about the future because they can’t rely on any past experience or data because no reliable data actually exits. They have to make decisions based on instinct and real-time observations of reality. There’s no textbook for this moment in history. That means imaginal skills and gut instincts are paramount. Imagination is the key to success in the new post-COVID/Post Recession world
The good news is that no one knows more about the economy than people running SME’s and mid-sized businesses. These are the backbone of any economy.
Here’s the good news:
- We have record capital injected into the world economy. Investors are looking for a good business model. Government bonds look dangerous now that inflation is picking up. People will back genuine unimpaired cash flows. People are emotionally inclined to support SME’s and local/national businesses now.
- The recovery is happening faster than anyone expected, after all, it’s from a low base so any good news is really good news.
- All the old business models are broken and imaginal skills can produce new ones very quickly:
Rather than preparing for a slowdown, I advise small businesses to prepare for things speeding up!
Things to look forward to:
- COVID has accelerated digitization. What would have taken 10 years, took 3 months from universities to global businesses. That’s why the stock market is up.
- Ephemeralization is real This is the idea that tech lest us do ever more with ever less.
- Glocalization is happening: the idea that global supply chains are becoming local. That means new manufacturing and service opportunities.
- Consumers have changed their priorities. Time is more valuable.They are more committed when they buy now. More thought goes into purchases.
- Politics has become so messy and annoying that people are focused on building a future regardless. Any good news in politics will be met with applause. The US election in November could be the trigger for a wave of global optimism if the Democrats win decisively. That will diminish the risk of trade wars and other things that stifle business. If Trump wins the market will like his low tax/anti-red tape approach. Optimism is underpriced.
The recovery will not be linear. It will be Quantum. It won’t be a V shape or a W or an L. It will be two things at once, just like in the 1920s when we recovered from The Spanish Flu and WWII. Some will make a fortune and lead a Great Gatsby life. Others will be deeply displaced by events plus Ai and automation. They will need help just as the 60% of Americans at the poverty line in the 1920s needed help. That means government programs are coming. Small business should take advantage of such government support.
Decision factors to maximise recovery
The latest insights from Vistage research will help you understand the key factors you must consider as part of your decision-making in these uncertain times. Expand your perspectives and inform strategic decisions on how to best manage customers, talent, finances and operations, and ultimately ensure your business is well-positioned for future success.