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Heraclitus said that the only constant is change and 2021 is holding true to form with even more dramatic change on the way. The US socio-political situation is tense but it is being resolved quite quickly. The vaccines are on the way giving us not only hope but confidence as well. China and the rest of the world are at odds but new balance is being found. The various despots, crackpots and other demagogues around the world are waiting to see how the big players will set the new world order.
So big changes are coming.
Last year the virus created huge changes as the entire world pivoted into a defensive stance. We learned social distancing (which should have been called physical distancing IMHO). We learned not to stand up on a Zoom call before making sure you were properly dressed. We learned how to manage from home. We all became comfortable buying and selling on-line. We learned that you didn’t have to fly to Latvia or Argentina to sell services there.
The other thing we did, was to save our money. We didn’t travel, we didn’t buy clothes, we didn’t go to shows or restaurants. As a result, the middle classes of the world have bank accounts stuffed with money – all of it looking for somewhere to go (how else do you explain retail investors pushing Tesla’s market cap to $770B or Bitcoin’s to $600B).
As the new world order settles into place, the virus is quelled, and the social-political systems regain equilibrium the world will once again change. It won’t go back to ‘before’ it will be yet another new normal.
Until now, your business has been riding the first wave of change – adapting to lockdown, political uncertainty and the rest. Very soon your business will be riding (or drowned by) the second wave as we change yet again. (Think of the tsunami that follows an earthquake). New international relations, new ways of working, new business relationships, new health systems, new tools, Oh and don’t forget CO2 reduction, wealth divide, BLM, and more, which will accelerate this year.
Get together with your executive team and discuss how this second wave will impact and potentially enable your business. Use a PESTLE analysis to guide your conversation. (Drop me a line if you’d like help running a PESTLE analysis.)
And, if you need, we’ll hold your beer while you ride the next wave to phenomenal success.