Kelly Manthey, Global CEO – Kin + Carta.
Ask any Philadelphia basketball fan what quote encapsulates their team, and they’ll probably tell you that it’s “trust the process.” The concept of slowly and strategically rebuilding the team to create something great was the cornerstone of Sam Hinkie’s redevelopment of the 76ers.
They may have been the first team to use the phrase, but the idea has been borrowed by any number of teams since then. One recent example happened over in England, where the fans of soccer club Arsenal FC were asked to buy into what new head coach Mikel Arteta was doing as he rebuilt a stagnating team over several years into one that, for the first time in nearly a decade, was a serious challenger for the Premier League title, eventually falling just short to a dominant Manchester City.
But we’re here to talk about business. And “trusting the process” is an idea that’s equally applicable to business strategy when times are tough. It’s one of the best ways to ensure you become indispensable to your clients and customers.
Find The Process That Works For You
It can be difficult when times are hard, but two key elements are pivotal when it comes to “trusting the process”: an understanding and confidence from everyone associated with your business—even those who are in it for the short-term—that there is a long-term strategy in place and that it’s there for a reason. Teams will feed off that confidence and momentum internally, and it can have a trickle-down effect on the whole company.
That’s why it’s so important to identify the drivers behind “the process.” For your business, that means defining the factors driving sustainable growth and how you’re going to enable that growth.
It’s also key to set ambitious, but achievable, goals. You might well be in a downturn, but that doesn’t mean that you can’t dream big. What’s important is to align with the realities of the challenges you’re facing. Overly ambitious targets could dishearten your team, while ones that aren’t big enough could also have a negative impact. It’s about balance.
In challenging times, you control what you can control: your work, how you perform, where you focus and what you spend money on. It’s also necessary to find the path that fits your business—and there always is one, even if it’s long and winding.
Adaptability and the nimbleness to change what needs to be changed as you navigate the path to success are also important parts of a long-term strategy that enables you to keep the goal in sight. Leaving this room to pivot, change and adapt means you’re not blindly sticking to a plan when things are changing rapidly.
To return to sports quotes, I’ll share one from Mike Tyson: “Everyone has a plan until they get punched in the mouth.” The plan should be robust enough to retain its essence and strong enough to flex around the immediate factors at hand.
Be Transparent, Honest And Available
Ultimately, I’ve found that all stakeholders want leadership that is transparent, honest and available. This trinity is what unlocks support for the vision and strategy for the long term.
The final part of the play is best summed up by a winner outside of sports: business magnate and investor extraordinaire Warren Buffet. At a recent shareholder meeting, in response to a question on what leaders can do in the face of an economic downturn, he said:
“The best thing you can do is to be exceptionally good at something. Whatever abilities you have can’t be taken away from you. They can’t actually be inflated away from you. … so the best investment by far is anything that develops yourself, and it’s not taxed at all.”
If you are the best at what you do, there is always a need, and people will always be willing to pay for what you have to offer.
So, trust the process. Show your stakeholders and employees that you have a plan. Try to become the best at what you do, so you become essential to your clients and customers. Be flexible and adaptive to meet their needs, including working around budgetary constraints. And, of course, be prepared to potentially get punched in the mouth.
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